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What would happen to the US if it paid off its debt?
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Why do you insinuate that the majority of the national debt is from military spending when military is less the a quarter of the total federal budget and Mandatory spending (Medicare, Medicaid, and Social Security) is over half the total federal budget. Seems a bit misleading.
The term "debt" is misused in this video. Debt is an accounting term and it is not the same as a household debt or a business debt where money is actually borrowed. The Federal government creates dollars and spends them and each year takes back a part of that spending in taxes. What remains is what each of us have in our checking, savings, investment and retirement accounts. Government "debt" is the private sectors savings. If you had a printing press and could print your own money to pay your expenses, would you go to the bank and borrow money? Why would the federal government? The "debt crisis" in an invention of libertarians, specifically the Peterson Group. The US can never go broke.
One of my biggest pet peeves, when someone is running for office in terms of presidency, is when they talk about paying off the debt and people ACTUALLY THINK they'll pay off (or put a dent) in the debt. It's never going to get paid off and anyone who uses that as their reasoning for voting for someone is an idiot.
The joke is that society accepts this as "responsibility" and they think it's heroic to kill strangers and cowardly to not enjoy hurting other people. They claim to be free and reject the notion that they're slaves. They claim to be unique individuals but bully others for being different. We've all gotta live here together, but everyone insists that abuse is better than love.
We claim to be intelligent and point toward technology as proof but how many of us are actually trying to advance our species?
Infographics Show’s statement 1:28 in that America has been at war a total of 225 yrs and at peace only 21 yrs since 1776 is absolutely ludicrous and we shouldn’t take anything else they say seriously. Since the end of the revolutionary war in 1783, not 1776, we have been in 11 wars which when added together total 54 yrs. A long way from 225 yrs!
I'd like to see a graph of the evolution of the US debt in parallel with the presidential mandates. I bet anything that you would see a acceleration when a republican is in charge and a deceleration when it is a democrate!
Sad to see that this video just contributed more to the ignorance of the average American of Why, Who, What, When, Where and How "Money" and Debt works. For those who want to take the Red Pill and Wake Up, I suggest you read a copy of "The Creature From Jekyll Island" by G. Edward Griffin!
The Keynesian perspective that spending more money than we have is so harmful for our economy. The only way this debt will ever get paid off is if we raised taxes or upped inflation, both of which would be harmful to the savings of the lower and middle class. Deficit spending increases interest rates and hurts investment in the private sector. Inflation also steals value from people holding dollars to pay for this expenditure, while also artificially lowing interest rates and tricking entrepreneurs into making shitty investments that will not be met with consumer demand due to lack of savings. Its also really sad that if we were to finally pay off our debt the first thing a big government Keynesian would think is to have more deficit spending.
Reminds me of Joe Pesci in Casino. He had a fool proof plan. When he won he collected and when he lost he told the bookies to go Fuk them selves ..what were they gonna do? Muscle Nikki? Nikki was the muscle....
That’s how the US is. Borrows and then says Fuk you what u gonna do about it? We are the worlds muscle
How can you have a video on debt and not mention the Federal Reserve, an international banking consortium that controls the issuance of our money? What a piece of happy propaganda this video is. Every dollar is issued into circulation with a debt that must be paid by the taxpayer. Problem is the money to pay off the debt is never issued, hence am unworkable system that makes continuous debt slaves of the public. The debt could be paid off rather quickly if the Treasury takes over the function of the misnamed Federal Reserve. Will you be making a video to correct the errors in this video? Probably not because that would make the powers that be very unhappy. The American people are waking up. It's time to abolish the Fed.
Abolish the Federal Reserve. Throw away the credit card. Stop imports. US made only. We are the high school kid that his parents bought us a new car and in a few years we are homeless because we never learned how to manage our money. The federal government shouldn't have any money anyways. The power should have gone to the States and to the people. Now we are getting back to the point where taxes will be getting higher and higher but this time there is no ocean to cross and form a new country. Abolish the Federal Reserve. Throw away the credit cards. Stop imports. US made only.
Obama doubled our debt. And what is there to show for it? Trump is an economic wizard and will save America. Everything he's gone through has been preparing him for this challenge. He's done a lot more than kiss babies and make bad promises like other presidents.
Triffen's Dilemma (see wiki) is a better explanation. Technically, the Federal Reserve is where money comes from. The government can't print it, it borrows it (read Federal Reserve Act). On the other hand, the Federal Reserve turns over interest, less operating expenses to the Treasury.
Additionally: gold standard, wars 1&2, more gold, Bretton Woods, Keynes & the Bancor, Dollar Hegemony (Reserve Currency), form IMF & World Bank (financial globalization), Trade deficits beginning late 1950s, Triffen discover's the dilemma, Nixon Shock, Stagflation, bubble economy (credit cycle), stealth socialism, lost productivity, bailouts, and interest grows exponentially (fear the math).
This video sounds like a College student's Liberal Arts project.
We're not in debt because of Government handouts (The highest in the WORLD)
We're not in debt because of our incarceration rate (The highest in the WORLD)
We're not in debt because our citizen idolize rappers and Hollywood and we rank LOWER than some 2nd and even 3rd world countries in Education.
No No No....It's because of our pesky Military...
Do you guys understand that printing money,is also lending? If the governments prints money, they have to sell bonds in return. Thats the only way the GOVERNMENT can "print" money. If other countries/people stop buying those bonds because they have no trust future taxation will be enough to pay it back, it will default on its debt.
Sadly many bad things would happen if US even tries to pay back a huge % of its debt. The reason is that 1 currency is valued after how available that currency is.,more debt = more available. Meaning if 1 country should try to seriously reduce its debt the consequences would be on a global scale. And if a large country like the US would try,,many countries that has taken loans in dollars would be affected. Not only the US.
As well as exports and imports of both the US and the world. Basically what would happen is a world crash ...
This video is just awful. The graphics are clearly trying to bo Kurzgesagt, the audio is constantly clipping, and the video doesn't even start until like 7 minutes in.
Also it's physically impossible to pay off our debt. With literally ALL of the money in the world, it still wouldn't be enough in the slightest. For the time being, we are slaves to the banking system.
Also Also the actual topic of the video spans about 10 seconds. The rest of it is either advertising or back story (7 minutes of it). To the people who have watched the video, you just wasted your time.
When you rule the world you dont have debt. The only time it’ll have to pay the debt is the day that they dont run the world anymore and thats why they spend on CIA, Military and bases all over the world.
Wowza. Obama wasn’t perfect. Neither was anyone before. Neither is trump. We get it. You hate him. Also before you imply that he messed up the economy why don’t you show some actual facts of how he did and if others did before.
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