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US National Debt, Part 2: Accumulation
“All of our problems can be traced back to Reagan”
Damn right
😂
at 7:30 when he said "a contagious virus that ignited the most devastating recession since the 1930's I did a double take. 2020 is crazy
In the US, the budget is passed by Congress. Way too much focus is put on the individual presidents.
how exactly are these videos made? Beautiful visuals of the Earth with countries highlighted. What software?
Rising debt at a rate that reflects optimal theft level to maintain status quo
you should've spoken on the Community Reinvestment Act.
The main drivers of national debt are guns & butter spending. We're dishing out $1.25 trillion on national security[1] and over $1 trillion on welfare[2]. The Pentagon and HUD haven't passed an audit in decades so the public does not know where trillions of dollars have gone[3].
To lower debt/gdp, consider transitioning to a decentralized form of Edgar Feige's 0.3% APT tax[4,5] on dollar liquidity flows[6,7], where tax proceeds are apportioned to local governments and bubble up to State and Federal levels after local fiscal issues are addressed (including price inflation). Besides saving $800 billion/year, it raises net profits, raises net wages, lowers prices and unilaterally addresses tax havens[8,9]. This enables local governments to lower property taxes, lower education taxes and limits excessive state and federal spending of our tax dollars. That's the stimulus we need for business and job creation in our local communities, along with less red tape to start and operate those going concerns.
[1] Making Sense of the $1.25 Trillion National Security State Budget| POGO | 2019
[2] CRS Report: Welfare Spending The Largest Item In The Federal Budget | Sessions | 2012
[3] Dr. Mark Skidmore – $21 Trillion Missing from US Federal Budget | Youtube
[4] Alternative Proposals Reform, May 11 2005 | Video | C-SPAN
[5] Taxation for the 21ST Century: Automated Payment Transaction (APT) Tax | SSRN
[6] Intraday Liquidity Flows | FRBNY
[7] Worldwide Currency Usage & Trends | SWIFT
[8] The Spider's Web – Britain's Second Empire | Youtube
[9] [PDF] The Treasure Islands | Nicholas Shaxson
You let people die over this worthless paper backed by your own stupidity.
https://youtu.be/18gNkYjgtQs
reduce your defence spending
USA: we have a huge debt that can destroy our nation what should we do to solve this problem?
USA government: spend less.
USA voters: spend more.
USA:…
USA voters:…
USA has paid his debt by doubling it
The US can not go broke.
So, Clinton was solving the problem and Bush Jr fucked it up…
From a communist perspective Republicans are just better presidents. They merely accelerate capitalism and make it more unstable.
I think you should consider the collapse of American workforce. For higher paying Union jobs. Clinton may have been a popular president but during his time Walmart with Chinese imports became the major employer. The American manufacturing base was hollowed out. Bush and Obama have not done much on that either.
So who is the paper tiger now, huh?
Summery of the Video: US looted the world through dominance of Dollar and Petrodollar, and then fucked it up …
When the dollar collapses, the worst economic crisis in human history to date will occur.
Why does this video blame or praise presidents. The president doesn't control the purse strings. Congress does. The president wether Republican or Democrat doesn't control spending or economic growth.
One of the reasons the banks went crazy with risk is from Government bailing them out. If they would let them fail you would get a generally more responsible freer market banking system.
Pentagon lost 20 trillion why isn't that calculated in are Monopoly money debt. The US debt clock should be 42 trillion. Fuck all them politicians
Bush needs to be in jail.
ah core message:
debt's an economic narcotic
Bill Clinton isn't especially beloved here. Any popularity he has is mostly due to his once likable persona. He's mostly seen as a deeply corrupt man who, with his wife, sold their offices to build the multimillion dollar slush fund. The right sees him as corrupt and degenerate. The left sees him as a sellout who is too moderate, because he did welfare cuts and crime sentencing increases. NAFTA was a catastrophe for us; it was deeply unpopular, but we got it anyway. he bombed kosavo without a good reason. He murdered a hundred people in texas. He also passed glass stegall, which caused the 2008 collapse.
Write a law, that demands that the goverment cannot run a negative budget. Fixed.
I'm noticing a pattern here. Instead of letting the market fail and actual capitalism to happen, the feds intervene and stop the market cycle from occurring. Reagan was right. The debt crisis and bubble markets are entirely the government's fault. The cycle could have been broken if the banks were allowed to fail in the early 90s, or the tech bubble was allowed to naturally correct in the early 2000s, or the housing bubble in 2007-2008 being allowed to deflate fully. Etc etc.
As you can all see after 2008 where the debt just skyrockets. They solved nothing. Just central bank manipulation and creative monetary schemes with QE's, etc. derivatives market. Markets, elites, banks have all loved this. This is the worse scheme ever created to solve 2008 crisis where they didn't. Thank Obama, Bernanki and company
Dodd-Frank STILL isn't being enforced. In hind-sight, was our our response to 9/11 overreactive? Look at what it did to our economy.
Up to $21.8 T as of last Saturday. Video is a couple of months out of date.
Unfortunately, you failed to mention that Reagan RAISED taxes 11 times during his 2 terms
George Bush Junior fucked American raw.
To truly defeat terrorism in this world, one has to also stop being a terrorist.