@@themanwhospeaks8010 I wouldn’t mind seeing both parties swinging from trees... Both parties are corrupt and both attempt to trivialize things and twist their agendas to make them more palatable to their respective voters
The debt is defined in dollars. Most of my crypto will continue to be an unrealized gain, until it's the new defacto. It will be easy to pay off the debt when one Bitcoin is worth an infinity dollars.
Those who stand in the middle of the road get hit by traffic. I don't care if we enter into a great depression for 200 years if it means we were able to end abortion, stop degenerates parading in the street and clean up education from leftism. It does however seem as though we will get the depression along with the left shifting the culture toward their issues.
Perhaps not allowing an additional 4k people with third grade educations and that don't speak the language stroll through the southern border daily to become a public charge could help.
@@trevorbilliot2625 one only have to look at the omnibus bills. Emergency relief funds for the people coupled with ... money for foreign nation gender programs, and Kennedy center for the arts, etc. keeping bills lean and “pork free” would be a good start.
Spot on. Government spending is one of, if not the biggest issues of today and it seems like nobody cares. Because we keep getting politicians who couldn't care less.
I won't blame politicians. The fact is, so long as it's "your man/woman" in office, people really don't care how much gets spent because then it's "essential". No candidate will ever get voted out of office by their own party because they spent too much.
@@fatpotatoe6039 the environment is a problem, no matter what you believe. You can’t say you have common sense and say it is not a problem. The problem isn’t that we don’t have time before it becomes super bad, no, the problem is that it’s not long before it starts becoming irreversible. Permafrost is a large amount of this, I’m asking you to research permafrost and it’s effect on global warming so that you can understand what I mean. Today the largest problems is: Little political freedom, government corruption, covid, and global warming. If you say global warming is not a problem, you are a dumbass, simple as that.
This channel here is nice but SIMPLE; hence the word Soapbox in the name, i guess. So if you wanna keep learning and understanding what's up and what's wrong with stuff, go and check out Sci Man Dan and Illuminaughtii.
@Radio Kaos I'm guessing as soon as Trump was out and Biden got in, they immediately barricaded themselves in and began to attempt to pass as much radical, controlling legislation as they can before the midterms. HR 1 would ensure we'd never have fair elections again. And they are desperately trying to pack the Supreme Court before October because there is going to be a major, ground breaking case that will (if everything goes according to plan) render "may issue" CCLs unconstitutional and therefore forever change the course of gun legislation.
its a whole bunch of nonsense. Alan Greenspan: “Central banks can issue currency, a non-interest-bearing claim on the government, effectively without limit. A government cannot become insolvent with respect to obligations in its own currency.” St. Louis Federal Reserve: “As the sole manufacturer of dollars, whose debt is denominated in dollars, the U.S. government can never become insolvent, i.e., unable to pay its bills. In this sense, the government is not dependent on credit markets to remain operational. www.cnbc.com/id/44051683 "The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default" said Greenspan on NBC's Meet the Press th-cam.com/video/DNCZHAQnfGU/w-d-xo.html "Alan Greenspan: "I wouldn't say the pay-as-you-go benefits are insecure in the sense that there is nothing to prevent the Federal Government from creating as much money as it wants and paying it to somebody."
Keynes basic idea is like this: - In good times, governments should spend less, so that they don't outbid tax paying corporations etc. thus pushing prices up. - In bad times, governments should spend more, so that they keep the lights on at companies that need contracts. The problem with this is that politicians has to say "and now that the economy is doing well, we'll have less public spending!" and nobody has the balls to do that. There are no Keynesian politician in the US with any power, because the American People (however that's defined) wants more spending and less taxes, but nobody wants to say no.
@@killdizzle Exactly, why do you think they keep pushing the idea that we need inflation? They want us to think that a higher cost of living is good for us, but all it does is transfer the wealth of the people to the top 0.1%.
You shouldn't care about it. Alan Greenspan: “Central banks can issue currency, a non-interest-bearing claim on the government, effectively without limit. A government cannot become insolvent with respect to obligations in its own currency.” St. Louis Federal Reserve: “As the sole manufacturer of dollars, whose debt is denominated in dollars, the U.S. government can never become insolvent, i.e., unable to pay its bills. In this sense, the government is not dependent on credit markets to remain operational. www.cnbc.com/id/44051683 "The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default" said Greenspan on NBC's Meet the Press th-cam.com/video/DNCZHAQnfGU/w-d-xo.html "Alan Greenspan: "I wouldn't say the pay-as-you-go benefits are insecure in the sense that there is nothing to prevent the Federal Government from creating as much money as it wants and paying it to somebody."
I've been paying into social security my entire life. I'm 38 now, and I can guarantee you that by the time I retire, I will never see a penny of any of the money I put in.
th-cam.com/video/QuUx3IL0a-0/w-d-xo.html Even Donald Trump could tell you social security can not go broke. www.ssa.gov/history/Gulick.html "I suggested that it had been a mistake to levy these taxes in the 1930’s when the social security program was originally adopted. FDR said, “I guess you’re right on the economics. They are politics all the way through. We put those pay roll contributions there so as to give the contributors a legal, moral, and political right to collect their pensions and their unemployment benefits. With those taxes in there, no damn politician can ever scrap my social security program. Those taxes aren’t a matter of economics, they’re straight politics.” Alan Greenspan: “Central banks can issue currency, a non-interest-bearing claim on the government, effectively without limit. A government cannot become insolvent with respect to obligations in its own currency.” St. Louis Federal Reserve: “As the sole manufacturer of dollars, whose debt is denominated in dollars, the U.S. government can never become insolvent, i.e., unable to pay its bills. In this sense, the government is not dependent on credit markets to remain operational. www.cnbc.com/id/44051683 "The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default" said Greenspan on NBC's Meet the Press th-cam.com/video/DNCZHAQnfGU/w-d-xo.html "Alan Greenspan: "I wouldn't say the pay-as-you-go benefits are insecure in the sense that there is nothing to prevent the Federal Government from creating as much money as it wants and paying it to somebody."
Dude I was just talking about this with my friend the other day, and I proposed if somebody really gave a shit about us on the national level they would come up with a plan for at least 30 years to pay off the national debt, alot of the problems we see today would be solved.
No one would vote for that person, and no politician would back them, because they would have to make a ton of cuts to military, and foreign aid, possibly cuts to NATO, as well as cuts to politicians salaries. They would be hated by all sides, with no backing.
@@XFizzlepop-Berrytwist and that's exactly why we haven't been able to get rid of the national debt because nobody knows the impact it will cause later down the line. No politician would support because it doesn't do what they want or need because they're all corrupt bastards.
I think one of the easiest ways to start would be a reduction (if not abolishment) of foreign aid and other federal programs such as obamacare, along with cutting the pipeline of tax dollars in subsidies that flows into ludicrously expensive and highly impractical green energy programs, primarily wind and solar. Also, the salaries of politicians could be based on the gdp of the counties and states they represent
@@patheronaetherson2860 I agree with you but I also have to agree with the comment above you, because The Democrat party would never let it happen because they are so far gone into green energy.
If the government cut ALL spending by 20% for 5-10 years and allowed free market to grow like it did in Hong Kong several years back before the CCP took them over, we could actually get rid of most of the debt in a few decades.
The best proposal I've heard of how to fix the defict, "a law that says anytime there is a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election."
that's a terrible idea. You'd literally never get anything done and you'd punish people that are trying to make a difference. Even worse is one party deliberately sabotaging another through obstruction...oh like they already do now. That isn't a solution. It's just a punishment.
We get so caught up with the "flavor of the month" crisis that we forget about the bigger slowly building crisis that goes unnoticed until it is too late.
"The Matrix is a system, Neo. That system is our enemy. But when you're inside, look around. What do you see? Businessmen, teachers, lawyers, carpenters. The very minds of the people we are trying to save. But until we do, these people are still a part of that system, and that makes them our enemy. You have to understand, most of these people are not ready to be unplugged. And many of them are so inured, so hopelessly dependent on the system, that they will fight to the death to protect it." - Morpheus in a roundabout way explaining why normies are such POS.
Same in Canada with the Indian farmers, they're shameless and ask for donations for other countries. These people need to learn to help Canadians first and not these farms in other countries, and I speak as someone who is mixed and has one parent who is Indian.
@@xSilentZeroXx There were anti-mask protests from the beginning. Those people made the lockdowns drag on as long as they did. Places with fewer of these people were much better off, both in terms of health and economics.
The national debt makes me so scared sometimes to even work. What's the point when everything you earn & save is just going to collapse along with the value of the dollar in 5~10 years? Occasionally makes me depressed because I work so hard to save as much as I can, optimize and spend very little. I've built a good savings, but I feel no accomplishment because I know it could just all be gone in a few years and no one wants to even slow things down let alone solve the problem.
Here's what you do: PILE UP RICE AND BEANS. Under good conditions, these Ingredients never go to waste is well preserved. Also buy something to protect yourself if you fear an incoming collapse. Finally, Yeah, living in a countryside is the safest option. I would do it if I gad yhe clue. I would trade all electronics away if it is the cost.
Invest what you can, don't save everything. Savings devalue with the dollar while the market is at least a pyramid scheme that will grow with the inflation as people put more money in
Reminder: the states that locked down and are still locked down are not experiencing significantly different covid rates than the ones that did not lock down.
Modern monetary theory is an ignorance killer. It is our savior in that learning it makes you knowledgeable and immune to fearmongering from myths and lies.
@@henrygustav7948 Spotted the woke idiot. If you ever think your reasoning is immune, you have become dogmatically emotional. MMT is just a rehash of Neo-Keynesianism but with real-life mechanics.
This was my biggest concern a decade ago. With all the spending in the last year, I have grown numb. We are fucked. I’m more concerned about what are culture will be like after the collapse.
@@burnttoast.2017 My bet is on another secession. Texas will become the new top dog in the NA and will be joined by a few other states while the rest turns into another Mexico. The scary part is the giant military that USA currently has. Who knows what THEY will decide in the moment of crisis?
I want to know who disliked this video? This is really important and really relevant. The only way you would dislike this video is if you think bankrupting the country is ok. It is not.
@@joshsolders5543 If American falls, the U.N isn't gonna take over. I advice you to learn Chinese very quickly, if you want a world where America isn't the global hegemony.
@@kjullthedemon The chinese right now are trying to take the #1 spot, but considering the UN has a lot of countries working towards Agenda 2030, I can assume that they will turn on China once its use is over. They are leaving a blind eye at the moment, but their plans include all countries and I doubt that they would be unwilling to use force to get the last few countries under control. China is a hot topic right now, but probably because they are an easy scapegoat for everyone to point to while other powers continue to advance their own plans. The UN has goals and they may not always keep to their time tables, but they aren't going to let one country full of people who need to buy clean air from Canada and barely earn enough to survive day to day stop them when they are on the precipice of victory.
I learned about the National Debt and how money is procduced in college economics. The room was perfectly silent. Everyone was stunned... The first sound was me say “So we’re screwed”
Yeah I’ve had economists try explaining to me why inflation is a good thing. Every time it came down to tricking stupid people into thinking they’re making more money just because the number is higher.
I think part of the problem is all of these federal / national programs that we're inadvertently funding that's really causing it. We're wasting money on not just bureaucracy, but for programs that could probably be more efficient as privatized companies. And, of course, gender studies programs overseas that can be easily done by some variant of missionaries.
We just need to move these programs from the federal level to the state level. States have to balance their budgets, they aren't allowed to run a deficit forever. Once people have to pay for programs now, instead of racking up debt for the grandkids, they'll be more willing to admit that some of these programs aren't worth the cost.
@TheDrewSaga Obama mentioned, during his presidency, that an idea that was floating around was to mint 1 trillion dollar coins and do exactly as I described.
@TheDrewSaga Yeah. I like to think that somewhere there's someone in charge that has explained that "Since the US Currency isn't backed by anything it's worthless. Even if you were to print 30 trillion dollar bills, they would have been more valuable as a tree."
I think China holds at least 30% of the US debt. I am legitimately not joking. US citizens and other countries who invested in Treasury bonds, and the US government (wtf?) own most of the rest.
It's owed to whoever holds the bonds and people buy and sell them all the time. You can buy bonds yourself if you want. Whoever has the bond gets regular payments from the government until the bond reaches it's expiration date.
@@petercross1879 Then no one will lend us money in the future. Also, other countries will put tarriffs on American goods in order to retrieve the money owed.
Ahhh, an intelligent comment graces my eyes. Wanna talk distractions? I was afraid people were too distracted by the big scary number to have an idea of the bigger picture.
That would erode people's savings. Essentially, printing more money would be a default on the debt and make it more difficult, if not impossible, to borrow in the future.
@@djm5687 Business Insider listed the US currency in circulation at 1.7 Trillion in January 2019. That's compared to a $3 trillion increase to the 'money-supply' since March. We're really looking at two different levels here. Besides, in general, people have more debt than they have liquid savings. Those with significant savings probably hold some sort of assets, be it stocks or Real Estate, that will hold some intrinsic value that will scale with inflation. At least better than cash. Or the 'money-supply'.
@@warmachineuk Corporations don't pay taxes directly, but their customers (sales taxes), employees (income taxes), investors (bond interest), and shareholders (capital gains & dividend taxes) pay taxes. Unlike humans, corporations don't use welfare. Also, corporations can easily "move" to a lower tax area with a little bit of paperwork. Increasing tax _rates_ doesn't necessarily increase tax _revenues._ The Democrats won't be eliminating corporate tax breaks because *tech and media companies helped Biden & the Democrats win the 2020 election.* If you watched the video, you would realize that if the military budget were reduced to ZERO, *it would not even pay the interest on the national debt.* Serious federal spending cuts need to be made to *all departments,* not just the military. In the 1990's, Canada (under a Liberal government) was able to balance its budget by shifting federal spending onto the provinces, and by breaking a campaign promise to eliminate the federal sales tax (GST). The federal government needs to put responsibility for spending (on healthcare, education, and infrastructure) onto the states & municipalities.
@@LiberalsGettheBulletToo What happens to people who have little or no savings? Unlike bank deposits which receive FDIC protection, there is risk of stocks & real estate losing value (eg Enron, Nortel, Detroit RE). A person who is 70+ can't just "wait for the market to recover" when they have bills to pay and no employment income. How will our safety net tax care of a 70+ year old person *as well as youth who want "free" healthcare and education?*
Everyone talking about this is about 100 years too late to fix it. Our economy is already at terminal velocity, and we lost the parachute decades ago. In our lifetimes we are going to see a depression that makes THE Great Depression look like a penny stock dip. We're talking decades of international repercussions. At best, only America is affected, at worst, all Fiat money across the globe becomes worthless overnight. The FED will continue forever to print money for the Federal "Reserves," rocketing the price and taxes of everything around us exponentially as the inflation they've dammed for decades springs leaks, until the floodgates are blown off and the mere idea of a US Dollar is less than worthless. We can already see it now. Food prices are growing. A dollar here, two dollars, 4 dollars, 8... It's not a supply-demand issue. The tsunami is coming.
@Shinshocks, given that our intention is to have this debt paid by the taxes of the unborn, that IS necessarily bad. It's stealing from those least capable of defending themselves.
Okay, I can appreciate this video. It makes a great point-that no one on either side is really doing anything to address it. I have seen people on both sides use it as a talking point, yet no one does anything.
And before anyone says, "tax the rich, make them pay their fair share," please keep in mind that the rich don't have that kind of money and no tax increase has resulted in a reduction in spending or a balanced budget.
Can't we just liquidate the movie industry? Actors, producers, directors, agents. All of their incomes added together has to take at least a little of a chunk out of that debt. It's not like they're making movies anyway.
It isn't money being spent that is the problem, it's the money being spent unwisely. Feed a man a fish, he eats for a day. Teach a man to fish, he eats for, the rest of his life. Turn third world countries, into first world countries, and we can earn the money back through things like trade.
@@mattevans4377 No. American money needs to go to Americans first then anything left over can go to other nations. other nations don't tax their citizens to give money to America so why should we tax Americans to give to other countries
@@mattevans4377 "Turn third world countries, into first world countries, and we can earn the money back through things like trade." Except that isn't true. The only way to make money off of foreign nations is to exploit them in the same way America used to, or the British empire used to. If you spend a huge amount of money turning a nation into an equal trading partner, even assuming that is possible, the time to return will be so long that the return itself won't matter assuming you even see it.
It's not my debt. Never voted. Don't believe in another person having authority over me. Idk who the money is owed to. I just know I don't owe a penny.
Same, I never even factored in Social Security into my future as the economic infrastructure was already destroyed before I graduated college. The National Debt is so large and growing so quickly that it truly is virtually impossible to get out of, that means any "austerity" imposed on regular people at this point in futile, Fractional Reserve Banking is benefiting from increased debt. Because of this, economics needs to be reevaluated to take into consideration of what's going on. Any Classical solution to this rampant debt will result in suffering of people who have been paying taxes and living responsibly, and driving the standard of living to the dirt. I have a hunch that the situation we're in may be able to be kept in control, for good or bad (probably bad), simply because of how centralized the banking system is, how few people are in charge of it. Fractional Reserve Banking is terrifying and weird.
@@vincemarenger7122 that's not what I meant. Communism sounds good to people in poverty and those that are uneducated on its history, or hope to become more powerful by taking advantage of the situation.
Increasing private debt takes more and more of your freedom, increasing public debt gives us more and more economic freedom. Its private debt that enslaves us, not public debt.
I was in a class in 11th grade and we were tasked with coming up with what the most important issues facing the nation are. We did this in groups and then listed them all to narrow it down. I had added the national debt to the list and my class dismissed it offhand almost immediately. The social security system is due to collapse and nobody will care until it directly affects them.
Yes!! I've been saying this for years. SS is just a crutch for our government, not for us or to benefit those retiring or disabled. It's a reason for the government to take our money, tax our money, and then take it again, while we're constantly taxed on our income and still pay taxes for the goods we purchase. In the end, we still rely on out retirement plans (401k or IRA) to help us retire and still that money gets taxed. It's never about us, it's about the government.
It's stupid. Why does the government pay for people to sit on their ass and do nothing for 15 years? Is that a human right, just like every other random noun? That's not even conducive to happiness. Study after study after study shows people are happiest when they are busy. My dad "retired" for a couple of years, and then started working part-time, and he said he's happier now.
Even Sweden, everyone's poster child for supposedly functional Democratic socialism, abolished their social security program and privatized pensions instead directly tying payments to the economy and taking away the government's ability to buy votes by raising payments like we do now.
@@christinaeconomidou7257 Ok then it’s not a very good jail because they kept getting out ans running over into Seattle and dc and Chicago and New York and every other place they were rioting all summer
We didn't say they were all in jail. We said that if they actually cost every one of us $220k, they would be all in jail. Alas, the costs they impose on others are largely concentrated on a small number of inner city business owners and the people who live in those areas -- not enough to get most of our political class to care.
@@CommonSenseSoapbox oh hey I got a comment from the TH-cam creator. Well now isn’t this a surprise. A surprise but a welcome one. Hopefully you realize I’m not just a bot and I’d like to discuss this So your whole thing is about National deficient. Personally I despise how much the US is in debt to China but fair enough on your point. My point is this Your saying how all the rioting and stuff is minimal by comparison. How much would it cost to make Chicago a modern day state and not a third world area? Then how about Detroit? And then how about Portland? And then how about Seattle? Then how about the entirety of California? And these are immediate problems because the scum of these areas are flooding over into every other state. So forgive me but your whole National deficient seems about as important as global warming But maybe I’m wrong I just think this is the biggest problem so far and it’s only getting worse
You actually made a video entirely on this subject about people fleeing these high tax states and running into other states You made a video on this The problem is these states everyone are fleeing, then become more and more of a problem so long as they are attached to the US and then the people fleeing those states bring all their crap to new states
@@007kingifrit Money is not wealth! In a functioning system it represents wealth fairly well, but we all know hyperinflation and even deflationary Recessions.
I keep up with topics like this and I’m honestly worried. What can we do? The left won’t cut social programs, the right won’t cut the military, and if anything lots of sections in the US need more money pumped into it. Literally, what can we do about this?
Why can't we just say "fuck it, we are not paying back debt"? Every other country does it when we constantly send them forgin aid. Explain it like im 5
@@petercross1879 It's like being the rich kid at school. You give the other kids money so they'll pretend to be your friends and do things you want. That's what foreign aid is.
Or raise it to 95 or dementia. Anyone with dementia over age 50, otherwise, 95, with a grandfather clause for anyone already on it at the time of transition.
@@eldermillennial8330 I don't think all 60 year olds are prepared for that. and not all of them are physically fit to do most jobs, and not young enough to retrain for other fields
Same as in the UK with debt now at £2 Trillion with a population of 67 million and it doesn’t matter who is in power either Conservatives or Labour because the debt keeps increasing.
Three things: 1. Why are you assuming GDP and thus tax revenue is static over time? 2. Why are you assuming the debt is equally shared among all parts of the population? 3. Why do you consider the interest rate being closer to its historical average a disaster?
Just sayin, for number 2, it's that it's because that the whole point of the calculus. GDP per capita isn't saying the GDP is equally shared. It's just a useful measure to know how big the GDP really is relative to the population. Same for the debts.
This comment is not made from ignorance. Look again, you can sense the wide breadth of historical knowledge that informs the content of this comment. Have a like, I too am waiting for shit to go off the rails.
@Henry Gustav I'd love to like the link you sent me, but it disappeared when I go to read the rest of your comment. Anyway, debt is a meme. Seems like JFK was aware of that. Probably part of the reason he got iced by that team of 8 snipers.
@@DallasPurdum weird i'll send again. www.jfklibrary.org/sites/default/files/archives/JFKOH/Council%20of%20Economic%20Advisers/JFKOH-CEA-01/JFKOH-CEA-01-TR.pdf page 276 JFK and James Tobin Nobel prize winning economist. That the Heller council was able to be so influential with Kennedy is attributable in part to the tutorial function it played in his economic education. This is well illustrated by James Tobin's account of one of his sessions with the president. He wanted to talk about economics, economic theory indeed, He wanted to ask me some questions, but it turned out he wanted to give his own answers to them too and see if I agreed, almost as if he were showing how well he had learned his lessons. So he did most of the talking, and my own interventions were largely to confirm that his own answers to his questions were right. There were two subjects; the budget deficit and gold. On the first he said, "Is there any economic limit to the deficit? I know of course about the political limits. People say you can't increase the national debt too fast or too much. We're always answering that the debt isn't growing relative to national income? There isn't, is there? Well, what is the limit?" I said the only limit is really inflation. He grabbed at that. "That's right, isn't it? The deficit can be any size, the debt can be any size, provided they don't cause inflation. Everything else is just talk."
This might explain why the SSA says i owe them around 100k for benefits i allegedly received, but they have no records of the checks being issued, and i have bank statements going back 15 years (literally been with the same credit union since i was 10, and im 31 now) showing i only received SHORT TERM disability benefits from 2012-2014, after a massive injury...
It's ok. As long as we're sending taxpayer-funded, exorbitant rovers to Mars so that we can see pictures of its sand, we should have nothing to worry about...
@@darthhideous9084 In the grand scheme of things, it's not the space program that's caused this debt, and you know that. So it's not worth talking about.
The trick is, move out of the USA, with all your assets, of course, just before the debt explodes. I've heard that there are some nice countries for retirees.
Social Security will be insolvent in fifteen years. Fifteen years later, "social security will be insolvent in fifteen years.". Politics is always making forecast that are completely false.
For years I've known people who would constantly swipe a card in lieu of cash and the reader would display "Good luck, LOL" while pending the transaction.
It’s the part about how obfuscated the debt has become. Virtually no person I know recognizes the issue. I run into the same attitude depicted in the cartoon.
“The most dangerous [lunatics] are in Washington.” Well said.
Unless they're Republicans. Then they're rational.
@@themanwhospeaks8010 kind of true. I guess he should’ve said “the most dangerous (and useless) people are in Washington.”
@@themanwhospeaks8010 I wouldn’t mind seeing both parties swinging from trees... Both parties are corrupt and both attempt to trivialize things and twist their agendas to make them more palatable to their respective voters
@@bigeanimations9779 The Potus tends to do that a lot with their promises
@@themanwhospeaks8010 The national debt he mentioned was 2020, TRUMP was president so....
Whenever someone brings this up, all I can think of is the Tyrannosaurus Debt schoolhouse rock song.
They tried to warn us.
@@Enchie The debt from the 70s seems quaint now...
The debt is defined in dollars.
Most of my crypto will continue to be an unrealized gain, until it's the new defacto.
It will be easy to pay off the debt when one Bitcoin is worth an infinity dollars.
@@jtjames79 🤔 I’ve been thinking of getting into crypto...
Post a link?
Keep people distracted so they don’t notice the bigger issues. Bread & circuses.
but where is my damn circus
@@DutchTDK What you missed the impeachment dog and pony show?
@@madogthefirst oh yeah we DID have a circus
Your circus is your social media friend. Left vs right is literally just the gladiators or charrioters in the arena. Take your pick. Blues vs Green.
Wheremt’st my bread? Damn pigeons...
Clowns to the left of me, jokers to my right, here I am, stuck in the middle with debt.
Damnit!!! I glanced past and thought your name was malcom for a second but were all in the same boat and its sinking fast
And the best part is that you'll be the one left holding the bag when this debt leviathon becomes truly unstoppable!
Haha BBC WW1 rap battle reference
I see you are a man of culture.
Those who stand in the middle of the road get hit by traffic.
I don't care if we enter into a great depression for 200 years if it means we were able to end abortion, stop degenerates parading in the street and clean up education from leftism.
It does however seem as though we will get the depression along with the left shifting the culture toward their issues.
Le epic centrist has joined the chat
National debt should be the number one priority but no one on either side wants to step up and be the "bad guy" that cuts everything.
Perhaps not allowing an additional 4k people with third grade educations and that don't speak the language stroll through the southern border daily to become a public charge could help.
@@Sandlin22 perhaps not wasting billions of dollars on things like transportation when there are so many other more urgent matters could help
@@trevorbilliot2625 one only have to look at the omnibus bills. Emergency relief funds for the people coupled with ... money for foreign nation gender programs, and Kennedy center for the arts, etc. keeping bills lean and “pork free” would be a good start.
It's amazing how people think Democrats are compassionate because they buy votes with their grand-children's money.
@NormalSodaGuy Bush Sr. probably would have won a second term if not for Ross Perot.
Spot on. Government spending is one of, if not the biggest issues of today and it seems like nobody cares. Because we keep getting politicians who couldn't care less.
Why are people talking about this now ? where was this video when Trump was in office
@@doge8726 DuH eNvIrOnMeNt ISSSSSS!!!!!!!!!!!!!!!
I won't blame politicians. The fact is, so long as it's "your man/woman" in office, people really don't care how much gets spent because then it's "essential". No candidate will ever get voted out of office by their own party because they spent too much.
@@fatpotatoe6039 the environment is a problem, no matter what you believe. You can’t say you have common sense and say it is not a problem. The problem isn’t that we don’t have time before it becomes super bad, no, the problem is that it’s not long before it starts becoming irreversible. Permafrost is a large amount of this, I’m asking you to research permafrost and it’s effect on global warming so that you can understand what I mean. Today the largest problems is: Little political freedom, government corruption, covid, and global warming.
If you say global warming is not a problem, you are a dumbass, simple as that.
@@dakotamahlau-heinert3529 I do think it is a problem boi
I love how Bob has changed so much after the whole Bob to the Future event. So glad that's officially canon.
This channel here is nice but SIMPLE; hence the word Soapbox in the name, i guess.
So if you wanna keep learning and understanding what's up and what's wrong
with stuff, go and check out Sci Man Dan and Illuminaughtii.
Man, that comment did not age the best, atleast in regard to one of those people.
'The most dangerous lunatics are in Washington.' Hilarious and unfortunately true!
I wish it were funny.
Yup, dumping billions into bombs.
@Radio Kaos
I'm guessing as soon as Trump was out and Biden got in, they immediately barricaded themselves in and began to attempt to pass as much radical, controlling legislation as they can before the midterms. HR 1 would ensure we'd never have fair elections again. And they are desperately trying to pack the Supreme Court before October because there is going to be a major, ground breaking case that will (if everything goes according to plan) render "may issue" CCLs unconstitutional and therefore forever change the course of gun legislation.
Idiot Bides is funding California High Speed Rail which will increase debt more.
Wrong, the most dangerous lunatics are in Brasília
You wanna cause some real extremism? Take 20% more of people’s hard earned money and tell them they owe you 220,000 dollars. Good luck.
They'd rather just print more in order to quietly take the 20 percent that way
I feel like something similar is gonna happen.
You just described our healthcare system.
I love how y’all take an issue and make it so much more digestible. Especially for blue collar knuckle-draggers like me 😂
@TH-cam WantsToSilenceMe very true lol
@@weldingweirdo5463 LOL
its a whole bunch of nonsense.
Alan Greenspan: “Central banks can issue currency, a non-interest-bearing claim on the government, effectively without limit. A government cannot become insolvent with respect to obligations in its own currency.”
St. Louis Federal Reserve: “As the sole manufacturer of dollars, whose debt is denominated in dollars, the U.S. government can never become insolvent, i.e., unable to pay its bills. In this sense, the government is not dependent on credit markets to remain operational.
www.cnbc.com/id/44051683
"The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default" said Greenspan on NBC's Meet the Press
th-cam.com/video/DNCZHAQnfGU/w-d-xo.html
"Alan Greenspan: "I wouldn't say the pay-as-you-go benefits are insecure in the sense that there is nothing to prevent the Federal Government from creating as much money as it wants and paying it to somebody."
@TH-cam WantsToSilenceMe
Let alone the idiots who thinks that the red or blues will save us so they vote for em
“For all your protest signs shop at Al’s Riot Supplies” 2:02
Good to see small businesses still doing well amidst all the lockdowns.
Reminds me of Ratchet and Clank
@@NotZombie9 This youtube-channel here
is a Mini-Version of Some More News
"Some of our most dangerous ideas come from the mainstream."
AMEN!
also reasons why i stopped watching the news nowadays. If i wanted to be lied to with propaganda i could go find that anywhere.
"In the long run, we are all dead" thanks a lot, Keynes.
Keynes basic idea is like this:
- In good times, governments should spend less, so that they don't outbid tax paying corporations etc. thus pushing prices up.
- In bad times, governments should spend more, so that they keep the lights on at companies that need contracts.
The problem with this is that politicians has to say "and now that the economy is doing well, we'll have less public spending!" and nobody has the balls to do that. There are no Keynesian politician in the US with any power, because the American People (however that's defined) wants more spending and less taxes, but nobody wants to say no.
When the government is in debt the people don't care, but when the people are in debt you bloody well be sure the government cares.
Then it feel like I’m the only one in my friends and family caring about the debt.
Probably because you make enough to have to pay it but not enough to actually get any benefits paid to you
@@NYG5 lol so you have to make a lot to get it? you don't know how it works huh?
guess you missed learning about survivor benefits and disability.
@@lolwtnick4362 those are totally different
@@killdizzle Exactly, why do you think they keep pushing the idea that we need inflation? They want us to think that a higher cost of living is good for us, but all it does is transfer the wealth of the people to the top 0.1%.
You shouldn't care about it.
Alan Greenspan: “Central banks can issue currency, a non-interest-bearing claim on the government, effectively without limit. A government cannot become insolvent with respect to obligations in its own currency.”
St. Louis Federal Reserve: “As the sole manufacturer of dollars, whose debt is denominated in dollars, the U.S. government can never become insolvent, i.e., unable to pay its bills. In this sense, the government is not dependent on credit markets to remain operational.
www.cnbc.com/id/44051683
"The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default" said Greenspan on NBC's Meet the Press
th-cam.com/video/DNCZHAQnfGU/w-d-xo.html
"Alan Greenspan: "I wouldn't say the pay-as-you-go benefits are insecure in the sense that there is nothing to prevent the Federal Government from creating as much money as it wants and paying it to somebody."
Have they thought about consolidating all their debt into one easy monthly payment?
If they do that, they would just pay it by printing more money
I've been paying into social security my entire life. I'm 38 now, and I can guarantee you that by the time I retire, I will never see a penny of any of the money I put in.
It doesn't help when able bodied people like my ex abuse social security. I can only imagine how many like her are out there doing the same thing.
th-cam.com/video/QuUx3IL0a-0/w-d-xo.html
Even Donald Trump could tell you social security can not go broke.
www.ssa.gov/history/Gulick.html
"I suggested that it had been a mistake to levy these taxes in the 1930’s when the social security program was originally adopted. FDR said, “I guess you’re right on the economics. They are politics all the way through. We put those pay roll contributions there so as to give the contributors a legal, moral, and political right to collect their pensions and their unemployment benefits. With those taxes in there, no damn politician can ever scrap my social security program. Those taxes aren’t a matter of economics, they’re straight politics.”
Alan Greenspan: “Central banks can issue currency, a non-interest-bearing claim on the government, effectively without limit. A government cannot become insolvent with respect to obligations in its own currency.”
St. Louis Federal Reserve: “As the sole manufacturer of dollars, whose debt is denominated in dollars, the U.S. government can never become insolvent, i.e., unable to pay its bills. In this sense, the government is not dependent on credit markets to remain operational.
www.cnbc.com/id/44051683
"The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default" said Greenspan on NBC's Meet the Press
th-cam.com/video/DNCZHAQnfGU/w-d-xo.html
"Alan Greenspan: "I wouldn't say the pay-as-you-go benefits are insecure in the sense that there is nothing to prevent the Federal Government from creating as much money as it wants and paying it to somebody."
“Sigh FINE I’ll bite” “Thank you” 😂 please never stop making videos Seamus
If you wanna keep learning and understanding what's up and what's wrong
with stuff, go and check out Sci Man Dan, Some More News and Illuminaughtii.
I’ve been talking about this since I was in highschool and I remember being ridiculed in college for having this be my biggest fear
They won’t ridicule you when they’re bankrupt
Dude I was just talking about this with my friend the other day, and I proposed if somebody really gave a shit about us on the national level they would come up with a plan for at least 30 years to pay off the national debt, alot of the problems we see today would be solved.
No one would vote for that person, and no politician would back them, because they would have to make a ton of cuts to military, and foreign aid, possibly cuts to NATO, as well as cuts to politicians salaries.
They would be hated by all sides, with no backing.
@@XFizzlepop-Berrytwist and that's exactly why we haven't been able to get rid of the national debt because nobody knows the impact it will cause later down the line.
No politician would support because it doesn't do what they want or need because they're all corrupt bastards.
I think one of the easiest ways to start would be a reduction (if not abolishment) of foreign aid and other federal programs such as obamacare, along with cutting the pipeline of tax dollars in subsidies that flows into ludicrously expensive and highly impractical green energy programs, primarily wind and solar. Also, the salaries of politicians could be based on the gdp of the counties and states they represent
@@patheronaetherson2860 I agree with you but I also have to agree with the comment above you, because The Democrat party would never let it happen because they are so far gone into green energy.
If the government cut ALL spending by 20% for 5-10 years and allowed free market to grow like it did in Hong Kong several years back before the CCP took them over, we could actually get rid of most of the debt in a few decades.
The best proposal I've heard of how to fix the defict, "a law that says anytime there is a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election."
How about: any deficit is subtracted from Congressional representatives' salaries?
@@oliviastratton2169 Why not both?
that's a terrible idea. You'd literally never get anything done and you'd punish people that are trying to make a difference. Even worse is one party deliberately sabotaging another through obstruction...oh like they already do now. That isn't a solution. It's just a punishment.
TheMelorino And how would congressmen avoid such a punishment?
make the Senators and congressmen have a 4 year position as well, plus add the re-election and subtraction from the salaries.
We get so caught up with the "flavor of the month" crisis that we forget about the bigger slowly building crisis that goes unnoticed until it is too late.
This youtube-channel here
is a Mini-Version of Some More News
"The Matrix is a system, Neo. That system is our enemy. But when you're inside, look around. What do you see? Businessmen, teachers, lawyers, carpenters. The very minds of the people we are trying to save. But until we do, these people are still a part of that system, and that makes them our enemy. You have to understand, most of these people are not ready to be unplugged. And many of them are so inured, so hopelessly dependent on the system, that they will fight to the death to protect it." - Morpheus in a roundabout way explaining why normies are such POS.
we should commit genocide in an industrial level
@@bloodyhell8201-Let's start with you then!!
oh boy, i sure wonder why 20% of the debt was added in 2020
It was our present to the 1%. They’ve been working so hard, that we the people just wanted to give them something to show our appreciation.
It's almost like stimuluses are a bad idea 🤔
@@KarmasAB123 Now, now, now. Don't go off and start thinking. The government might not like that.
@@samuelzuleger5134 *Brain expansion intensifies*
Cuz they had “muh covid” as an excuse to spend like a teenager with their parents credit card
“You don’t understand;
We NEED to send $10 million to Pakistan for gender programs!!!”
🎩
🐍 no step on SNEK! 🇺🇸🇭🇰
Can somebody please think of the starving african Children? How bout you, Starving American Father?
@@ChillstoneBlakeBlast surely you mean starving dictator and his clique whom confiscate a third of the aid
Same in Canada with the Indian farmers, they're shameless and ask for donations for other countries. These people need to learn to help Canadians first and not these farms in other countries, and I speak as someone who is mixed and has one parent who is Indian.
I hate how 20% of that was added this year, we should have never done stimulus checks or do lock downs for so long.
But then how would they transfer our wealth to the banksters..?
Wouldn't have been so bad if everyone just wore masks and social distanced from the beginning.
@@gavinwilson5324 THEY DID. THEY JUST STOPPED DOING IT ONCE IT WAS CLEAR IT WASN'T WORKING.
@@xSilentZeroXx There were anti-mask protests from the beginning. Those people made the lockdowns drag on as long as they did. Places with fewer of these people were much better off, both in terms of health and economics.
The national debt makes me so scared sometimes to even work. What's the point when everything you earn & save is just going to collapse along with the value of the dollar in 5~10 years? Occasionally makes me depressed because I work so hard to save as much as I can, optimize and spend very little. I've built a good savings, but I feel no accomplishment because I know it could just all be gone in a few years and no one wants to even slow things down let alone solve the problem.
MOVE TO THE COUNTRY AND BECOME SELF SUFFICIENT. All you ever really have is what you can create yourself.
Here's what you do: PILE UP RICE AND BEANS. Under good conditions, these Ingredients never go to waste is well preserved. Also buy something to protect yourself if you fear an incoming collapse. Finally, Yeah, living in a countryside is the safest option. I would do it if I gad yhe clue. I would trade all electronics away if it is the cost.
you'll still need money in the meantime
buy land. at least you'll have a place to pitch ur tent when cities collapse.
Invest what you can, don't save everything. Savings devalue with the dollar while the market is at least a pyramid scheme that will grow with the inflation as people put more money in
Reminder: the states that locked down and are still locked down are not experiencing significantly different covid rates than the ones that did not lock down.
That's because no one is actually following the rules.
Have you heard the message of our lord and savior modern monetary theory?
What are you doing chilling down here, you need to be up at the top
This is a joke, right?
Politicians don't have the self-discipline.
Modern monetary theory is an ignorance killer. It is our savior in that learning it makes you knowledgeable and immune to fearmongering from myths and lies.
@@henrygustav7948 Spotted the woke idiot. If you ever think your reasoning is immune, you have become dogmatically emotional. MMT is just a rehash of Neo-Keynesianism but with real-life mechanics.
Michael Scott: “I declare BANKRUPTCY!”
This was my biggest concern a decade ago. With all the spending in the last year, I have grown numb. We are fucked. I’m more concerned about what are culture will be like after the collapse.
Communist country, probably.
@@burnttoast.2017 My bet is on another secession. Texas will become the new top dog in the NA and will be joined by a few other states while the rest turns into another Mexico. The scary part is the giant military that USA currently has. Who knows what THEY will decide in the moment of crisis?
I want to know who disliked this video? This is really important and really relevant. The only way you would dislike this video is if you think bankrupting the country is ok. It is not.
Please, people disagree for even dumber reasons. What do you expect?
@@psycholaw4394 *shrug* maybe. Then again, there are many people who want to see America burn and the UN take over.
@@joshsolders5543 If American falls, the U.N isn't gonna take over. I advice you to learn Chinese very quickly, if you want a world where America isn't the global hegemony.
@@kjullthedemon The chinese right now are trying to take the #1 spot, but considering the UN has a lot of countries working towards Agenda 2030, I can assume that they will turn on China once its use is over. They are leaving a blind eye at the moment, but their plans include all countries and I doubt that they would be unwilling to use force to get the last few countries under control. China is a hot topic right now, but probably because they are an easy scapegoat for everyone to point to while other powers continue to advance their own plans. The UN has goals and they may not always keep to their time tables, but they aren't going to let one country full of people who need to buy clean air from Canada and barely earn enough to survive day to day stop them when they are on the precipice of victory.
Man, I miss those 2.5 interest rates
I learned about the National Debt and how money is procduced in college economics.
The room was perfectly silent. Everyone was stunned...
The first sound was me say “So we’re screwed”
Yeah I’ve had economists try explaining to me why inflation is a good thing. Every time it came down to tricking stupid people into thinking they’re making more money just because the number is higher.
If we create enough debt, the lowest levels of debt will be squeezed into oil and diamonds. - Government accounting legend.
"Neither side is doing anything about it"
*SUBSCRIBES*
January 6th wasn't even in the top 1000 most egregious things to happen to America at the capital building in washington DC
I would say that a bunch of loons burnt the place down a couple hundred years back, but I think that was the Whitehouse.
@@Nether_T_Hedgehog How dare you refer to our upstanding northern cousins as loons, it was a mostly peaceful protest of 1814.
@@Nether_T_Hedgehog contrary to what most of us Canadians would want you to believe, the British did it.
I think part of the problem is all of these federal / national programs that we're inadvertently funding that's really causing it. We're wasting money on not just bureaucracy, but for programs that could probably be more efficient as privatized companies. And, of course, gender studies programs overseas that can be easily done by some variant of missionaries.
We just need to move these programs from the federal level to the state level. States have to balance their budgets, they aren't allowed to run a deficit forever.
Once people have to pay for programs now, instead of racking up debt for the grandkids, they'll be more willing to admit that some of these programs aren't worth the cost.
@@oliviastratton2169 Precisely. Now a little louder for the voters in the back.
It's years of reckless spending
Decades
So the US should start with the biggest cost: the military.
@@warmachineuk Actually, the "social" spending.
@@warmachineuk the biggest cost is social services, not the military. Stop taking memes as fact
Easy solution. Just mint a 20 trillion dollar coin and deposit it into the treasury and the debt is gone. What could go wrong?
We need to get this message to Washington.. RIGHT NOW!
Then we can do it all again!
@TheDrewSaga Obama mentioned, during his presidency, that an idea that was floating around was to mint 1 trillion dollar coins and do exactly as I described.
@TheDrewSaga Yeah. I like to think that somewhere there's someone in charge that has explained that "Since the US Currency isn't backed by anything it's worthless. Even if you were to print 30 trillion dollar bills, they would have been more valuable as a tree."
Imagine how much easier it would be to afford things like subsidised healthcare if there wasn't that much interest to pay
What's sad is that the interest rates ARE that high now
Id love to see more economics videos, cos you break em down into easy to understand formats. Keep it up dude.
The dialogue given below is the most important one.
02:18
Democrat/Republican: So you're saying you don't care about these lunatics.
Seamus: No, I'm saying the most dangerous ones
are in washington.
Ok so I accept that we as a country owe 28 trillion dollars. Who do we owe it to? Honest question
I think China holds at least 30% of the US debt. I am legitimately not joking. US citizens and other countries who invested in Treasury bonds, and the US government (wtf?) own most of the rest.
@@samuelzuleger5134 why should we even pay it back?
@@petercross1879 ikr?
I say we pay back the bonds owned by US citizens, then go bankrupt!
It's owed to whoever holds the bonds and people buy and sell them all the time. You can buy bonds yourself if you want.
Whoever has the bond gets regular payments from the government until the bond reaches it's expiration date.
@@petercross1879
Then no one will lend us money in the future. Also, other countries will put tarriffs on American goods in order to retrieve the money owed.
They increased the "Purchase Tax" (VAT) in the UK by 2.5% in 2011 to "pay" for the debt, in that time the National debt has increased by over 30%
debt is just a social construct when you have the worlds largest military
Ahhh, an intelligent comment graces my eyes. Wanna talk distractions? I was afraid people were too distracted by the big scary number to have an idea of the bigger picture.
“Nothing is so permanent as a temporary government program.” - Milton Friedman
"britain did not have slaves" - milton friedman, shameless liar
@@shway1stop
@@Hardrian_Hardrada_Cicero it's true thought
@@shway1 No it is not and you know that. Stop
@@Hardrian_Hardrada_Cicero which part? that he said it, or that it's not true?
Liberals- "Why dont we just...print more money"
That would erode people's savings. Essentially, printing more money would be a default on the debt and make it more difficult, if not impossible, to borrow in the future.
@@djm5687 Business Insider listed the US currency in circulation at 1.7 Trillion in January 2019.
That's compared to a $3 trillion increase to the 'money-supply' since March.
We're really looking at two different levels here.
Besides, in general, people have more debt than they have liquid savings.
Those with significant savings probably hold some sort of assets, be it stocks or Real Estate, that will hold some intrinsic value that will scale with inflation. At least better than cash.
Or the 'money-supply'.
I prefer cutting tax breaks to the corporations and cutting the military budget.
@@warmachineuk Corporations don't pay taxes directly, but their customers (sales taxes), employees (income taxes), investors (bond interest), and shareholders (capital gains & dividend taxes) pay taxes. Unlike humans, corporations don't use welfare. Also, corporations can easily "move" to a lower tax area with a little bit of paperwork. Increasing tax _rates_ doesn't necessarily increase tax _revenues._
The Democrats won't be eliminating corporate tax breaks because *tech and media companies helped Biden & the Democrats win the 2020 election.*
If you watched the video, you would realize that if the military budget were reduced to ZERO, *it would not even pay the interest on the national debt.*
Serious federal spending cuts need to be made to *all departments,* not just the military. In the 1990's, Canada (under a Liberal government) was able to balance its budget by shifting federal spending onto the provinces, and by breaking a campaign promise to eliminate the federal sales tax (GST). The federal government needs to put responsibility for spending (on healthcare, education, and infrastructure) onto the states & municipalities.
@@LiberalsGettheBulletToo What happens to people who have little or no savings? Unlike bank deposits which receive FDIC protection, there is risk of stocks & real estate losing value (eg Enron, Nortel, Detroit RE). A person who is 70+ can't just "wait for the market to recover" when they have bills to pay and no employment income. How will our safety net tax care of a 70+ year old person *as well as youth who want "free" healthcare and education?*
Everyone talking about this is about 100 years too late to fix it.
Our economy is already at terminal velocity, and we lost the parachute decades ago. In our lifetimes we are going to see a depression that makes THE Great Depression look like a penny stock dip. We're talking decades of international repercussions. At best, only America is affected, at worst, all Fiat money across the globe becomes worthless overnight.
The FED will continue forever to print money for the Federal "Reserves," rocketing the price and taxes of everything around us exponentially as the inflation they've dammed for decades springs leaks, until the floodgates are blown off and the mere idea of a US Dollar is less than worthless. We can already see it now. Food prices are growing. A dollar here, two dollars, 4 dollars, 8... It's not a supply-demand issue.
The tsunami is coming.
Under the last guy, the debt tripled. without a war or economic crisis until his last year.
This is true. He added somewhere in the range of what? 7.8 trillion?
Three years later and we’re now at $34 trillion…
You cant always get what you want but if you try sometime you find you get what you deserve.
The problem with National Dept is that there is no pressure on repaying said dept, so it can literally build up forever without consequence.
Exactly right: do you know why there's no pressure to repay?
@@g.l.holdren162 military?
@@1J2C4U keeping 40% of the oil
@Shinshocks the debt is also constantly increasing by bonds being issued.
@Shinshocks, given that our intention is to have this debt paid by the taxes of the unborn, that IS necessarily bad. It's stealing from those least capable of defending themselves.
me: *watches this video*
me: *radicalisation intensifies*
Okay, I can appreciate this video. It makes a great point-that no one on either side is really doing anything to address it.
I have seen people on both sides use it as a talking point, yet no one does anything.
This youtube-channel here
is a Mini-Version of Some More News
If you fix the problem, then you can’t use it as a talking point, can you?
And before anyone says, "tax the rich, make them pay their fair share," please keep in mind that the rich don't have that kind of money and no tax increase has resulted in a reduction in spending or a balanced budget.
Can't we just liquidate the movie industry? Actors, producers, directors, agents. All of their incomes added together has to take at least a little of a chunk out of that debt. It's not like they're making movies anyway.
@@Taverens_Pull theres a finite number of real jobs. we need film, video games, sports, youtube, lawyers, and congress to employ everyone else.
@@pixelfairy uh-huh
???? 657 Americans got $1.3 trillion richer in the last 12 months.
palpatine's great reset. a gamble that if it pays off will nullify the galactic empires debt because the republic that owed it no longer exists.
We need to stop sending money to other countries. They can fix their own problems
It isn't money being spent that is the problem, it's the money being spent unwisely. Feed a man a fish, he eats for a day. Teach a man to fish, he eats for, the rest of his life. Turn third world countries, into first world countries, and we can earn the money back through things like trade.
@@mattevans4377 No. American money needs to go to Americans first then anything left over can go to other nations. other nations don't tax their citizens to give money to America so why should we tax Americans to give to other countries
@@nikoclesceri2267 Obviously the American people need money too. I'm just pointing out, any money spent on the third world, should be spent wisely.
@@mattevans4377 Fair enough, I just don't think we should spend any money on anyone else in the world(beside paying off our debts of course)
@@mattevans4377 "Turn third world countries, into first world countries, and we can earn the money back through things like trade."
Except that isn't true. The only way to make money off of foreign nations is to exploit them in the same way America used to, or the British empire used to. If you spend a huge amount of money turning a nation into an equal trading partner, even assuming that is possible, the time to return will be so long that the return itself won't matter assuming you even see it.
It's not my debt. Never voted. Don't believe in another person having authority over me. Idk who the money is owed to. I just know I don't owe a penny.
Can't say I'm surprised that i never got the notification...
When I graduated and found out how Social Security actually works, I stopped counting on ever getting a check when I retire.
Same, I never even factored in Social Security into my future as the economic infrastructure was already destroyed before I graduated college. The National Debt is so large and growing so quickly that it truly is virtually impossible to get out of, that means any "austerity" imposed on regular people at this point in futile, Fractional Reserve Banking is benefiting from increased debt. Because of this, economics needs to be reevaluated to take into consideration of what's going on. Any Classical solution to this rampant debt will result in suffering of people who have been paying taxes and living responsibly, and driving the standard of living to the dirt.
I have a hunch that the situation we're in may be able to be kept in control, for good or bad (probably bad), simply because of how centralized the banking system is, how few people are in charge of it. Fractional Reserve Banking is terrifying and weird.
Increasing debt takes away more and more of your freedom👀
And closer to communism.
@@vincemarenger7122 that's not what I meant. Communism sounds good to people in poverty and those that are uneducated on its history, or hope to become more powerful by taking advantage of the situation.
Increasing private debt takes more and more of your freedom, increasing public debt gives us more and more economic freedom. Its private debt that enslaves us, not public debt.
I was in a class in 11th grade and we were tasked with coming up with what the most important issues facing the nation are. We did this in groups and then listed them all to narrow it down. I had added the national debt to the list and my class dismissed it offhand almost immediately. The social security system is due to collapse and nobody will care until it directly affects them.
Reasons to abolish social security
I told my grandpa that we’re adults and it should be optional he lost his mind at such a radical suggestion
Or make a charity organization that replaces social security like donate $1 when you go grocery shopping get govnt out
Yes!! I've been saying this for years. SS is just a crutch for our government, not for us or to benefit those retiring or disabled. It's a reason for the government to take our money, tax our money, and then take it again, while we're constantly taxed on our income and still pay taxes for the goods we purchase. In the end, we still rely on out retirement plans (401k or IRA) to help us retire and still that money gets taxed. It's never about us, it's about the government.
It's stupid. Why does the government pay for people to sit on their ass and do nothing for 15 years? Is that a human right, just like every other random noun? That's not even conducive to happiness. Study after study after study shows people are happiest when they are busy. My dad "retired" for a couple of years, and then started working part-time, and he said he's happier now.
Even Sweden, everyone's poster child for supposedly functional Democratic socialism, abolished their social security program and privatized pensions instead directly tying payments to the economy and taking away the government's ability to buy votes by raising payments like we do now.
Thank you for addressing one of the biggest threats to our country!
“All of the extremists are in jail”
Hah I thought this was a news station not a comedy channel. I think Portland disproves your entire argument
Maybe Portland is a giant jail.
@@christinaeconomidou7257
Ok then it’s not a very good jail because they kept getting out ans running over into Seattle and dc and Chicago and New York and every other place they were rioting all summer
We didn't say they were all in jail. We said that if they actually cost every one of us $220k, they would be all in jail.
Alas, the costs they impose on others are largely concentrated on a small number of inner city business owners and the people who live in those areas -- not enough to get most of our political class to care.
@@CommonSenseSoapbox oh hey I got a comment from the TH-cam creator. Well now isn’t this a surprise. A surprise but a welcome one. Hopefully you realize I’m not just a bot and I’d like to discuss this
So your whole thing is about National deficient. Personally I despise how much the US is in debt to China but fair enough on your point.
My point is this
Your saying how all the rioting and stuff is minimal by comparison. How much would it cost to make Chicago a modern day state and not a third world area? Then how about Detroit? And then how about Portland? And then how about Seattle? Then how about the entirety of California?
And these are immediate problems because the scum of these areas are flooding over into every other state.
So forgive me but your whole National deficient seems about as important as global warming
But maybe I’m wrong I just think this is the biggest problem so far and it’s only getting worse
You actually made a video entirely on this subject about people fleeing these high tax states and running into other states
You made a video on this
The problem is these states everyone are fleeing, then become more and more of a problem so long as they are attached to the US and then the people fleeing those states bring all their crap to new states
Remember: Money is never gone, it’s just with someone else
common fallacy: for example communism actually makes EVERYONE poorer. literlaly erases the spending power of a society
@@007kingifrit Money is not wealth! In a functioning system it represents wealth fairly well, but we all know hyperinflation and even deflationary Recessions.
@@Helmut-pdh well either way you're wrong. money can go away
Of course you could just burn your cash (M1) or governments could pay their bonds back or default on them, which would tighten the money supply M3
2:03 Al's Riot Supplies sells riot supplies and riot supply accessories
Clever move putting both camps of boogiemen on the phone screen.
Jokes on the government I’m movin no debt for me
I keep up with topics like this and I’m honestly worried. What can we do? The left won’t cut social programs, the right won’t cut the military, and if anything lots of sections in the US need more money pumped into it. Literally, what can we do about this?
Why can't we just say "fuck it, we are not paying back debt"? Every other country does it when we constantly send them forgin aid. Explain it like im 5
Agorism, not paying them taxes, retiring early...basically seceding from the state system on an individual level. That is what you can do.
@@petercross1879
It's like being the rich kid at school. You give the other kids money so they'll pretend to be your friends and do things you want. That's what foreign aid is.
I think we need to go back to of never having social security.
Yes! End it. Phase it out by letting people opt out.
Or raise it to 95 or dementia. Anyone with dementia over age 50, otherwise, 95, with a grandfather clause for anyone already on it at the time of transition.
@@eldermillennial8330 I don't think all 60 year olds are prepared for that. and not all of them are physically fit to do most jobs, and not young enough to retrain for other fields
Agreed there's no reason people can't save for themselves
Change social security to government and then you will be on to something.
I love how the mom is eating the steak and the guy is eating the salad: great symbolic touch
?
Let’s send more money to other countries!
Same as in the UK with debt now at £2 Trillion with a population of 67 million and it doesn’t matter who is in power either Conservatives or Labour because the debt keeps increasing.
Three things:
1. Why are you assuming GDP and thus tax revenue is static over time?
2. Why are you assuming the debt is equally shared among all parts of the population?
3. Why do you consider the interest rate being closer to its historical average a disaster?
Just sayin, for number 2, it's that it's because that the whole point of the calculus.
GDP per capita isn't saying the GDP is equally shared. It's just a useful measure to know how big the GDP really is relative to the population. Same for the debts.
I cannot remember the last time we had a balanced budget for our govt. I’m pretty sure it was during the Busch era, I just don’t know which.
No one should care really.
This comment is not made from ignorance. Look again, you can sense the wide breadth of historical knowledge that informs the content of this comment. Have a like, I too am waiting for shit to go off the rails.
@Henry Gustav I'd love to like the link you sent me, but it disappeared when I go to read the rest of your comment. Anyway, debt is a meme. Seems like JFK was aware of that. Probably part of the reason he got iced by that team of 8 snipers.
@@DallasPurdum weird i'll send again.
www.jfklibrary.org/sites/default/files/archives/JFKOH/Council%20of%20Economic%20Advisers/JFKOH-CEA-01/JFKOH-CEA-01-TR.pdf
page 276
JFK and James Tobin Nobel prize winning economist.
That the Heller council was able to be so influential with Kennedy is attributable in part to the tutorial function it played in his economic education. This is well illustrated by James Tobin's account of one of his sessions with the president.
He wanted to talk about economics, economic theory indeed, He wanted to ask me some questions, but it turned out he wanted to give his own answers to them too and see if I agreed, almost as if he were showing how well he had learned his lessons. So he did most of the talking, and my own interventions were largely to confirm that his own answers to his questions were right. There were two subjects; the budget deficit and gold. On the first he said, "Is there any economic limit to the deficit? I know of course about the political limits. People say you can't increase the national debt too fast or too much. We're always answering that the debt isn't growing relative to national income? There isn't, is there? Well, what is the limit?" I said the only limit is really inflation. He grabbed at that. "That's right, isn't it? The deficit can be any size, the debt can be any size, provided they don't cause inflation. Everything else is just talk."
Babe wake up, there's a new Common Sense Soapbox video.
this guy kinda sounds like freedom toons.
This might explain why the SSA says i owe them around 100k for benefits i allegedly received, but they have no records of the checks being issued, and i have bank statements going back 15 years (literally been with the same credit union since i was 10, and im 31 now) showing i only received SHORT TERM disability benefits from 2012-2014, after a massive injury...
Thanks Trump for adding so much debt!
@@DanTheMan4176 then why did his administration increase the debt by 36%?
“I’m saying that the most dangerous ones are in Washington.”
Cheers, I’ll drink to that!
It's ok. As long as we're sending taxpayer-funded, exorbitant rovers to Mars so that we can see pictures of its sand, we should have nothing to worry about...
A friendly neighborhood reminder that NASA is but .48% of the federal budget, thanks, have a nice day
@@rebornranch1386 Ok. How much is the federal budget? Multiply that by ".048" and see what you come up with.
@@darthhideous9084 In the grand scheme of things, it's not the space program that's caused this debt, and you know that. So it's not worth talking about.
@@kjullthedemon Excessive spending has, and the space program post-1969 has certainly been one of many notable examples.
Thank you for taking the time to create this.
Raise taxes to lower the Debt. End the rich tax cuts.
Ronald Reagan once said. "The most terrifying words in the English language are: "I'm from the government and I'm here to help"
this video is classified as antisemitic here in germany. Dunno why.
The trick is, move out of the USA, with all your assets, of course, just before the debt explodes. I've heard that there are some nice countries for retirees.
Everytime this comes up, I think about how I need to get out of this country before the bill comes due.
People always say the stupid thing “National debt to whom?” Thanks for the video it is spot on
If people only knew how bad it is. We're sitting on a razors edge that could be cut at any moment.
This is the most exciting this topic can be made, so THANK YOU for tackling it.
I don't know whether to be triggered that everyone at the table is eating different food.
Social Security will be insolvent in fifteen years. Fifteen years later, "social security will be insolvent in fifteen years.". Politics is always making forecast that are completely false.
"WEdont owe 25 trillion dollars, i owe Sprint 95 dollars" paraphrasing Michael Che
Don't worry. The banknotes that don't end up as makeshift kindling will probably become major collectors items and museum pieces in due time.
For years I've known people who would constantly swipe a card in lieu of cash and the reader would display "Good luck, LOL" while pending the transaction.
It’s the part about how obfuscated the debt has become. Virtually no person I know recognizes the issue. I run into the same attitude depicted in the cartoon.