How Big Is the U.S. Debt?
Economy | Information | History | Online | Facts | World | Global | Money
Do you know how much debt the U.S. is really in? Learn more: http://bit.ly/1HVAtKP Economics professor Antony Davies illustrates the size the U.S. federal government's debt and unfunded obligations. He breaks down the total U.S. debt and obligations into parts and compares them with the size of the GDP of countries around the world, showing the magnitude of America's fiscal situation. SUBSCRIBE: http://bit.ly/1HVAtKP FOLLOW US: - Website: https://www.learnliberty.org/ - Facebook: https://www.facebook.com/LearnLiberty - Twitter: https://twitter.com/LearnLiberty - Google +: http://bit.ly/1hi66Zz LEARN MORE: -Want to give that graph a closer look? Prof. Davies has made it available on his website here:http://www.antolin-davies.com/conventionalwisdom/governmentdebt.pdf -For more details on the total Federal debt, start on slide 35 of this PowerPoint presentation: http://www.antolin-davies.com/presentations/ihs11a.ppt LEARN LIBERTY Your resource for exploring the ideas of a free society. We tackle big questions about what makes a society free or prosperous and how we can improve the world we live in. Watch more at http://bit.ly/1UleLbP
Comments
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I propose a policy for eliminating the national debt. A lot of people will not like it because it involves shrinking the role of the federal government. The federal government have a lot of domestic programs and foreign programs using up all of the tax revenues. It is stretched wide and it is not capable of providing all the "services" the electorate want. So first things first, we cut spending. No more subsidizes, aids, or reliefs the federal government can't afford it. Those "services" are turned over to the private sector, local government and state government to provide. The federal government will only provide a national court, a law making body, and a head to make sure the laws are enforced and have dialogue with foreign powers. Security will be turned over to the states. No national security force. The federal government can not afford it. Groups wishing to leave the protection of the homeland to engage with foreign powers do so at their own risk. The federal government can not provide protection in foreign lands. Tell me what you think?
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I don't think this chart is convincing, because you mix together current and future debt obligations. The ~$19 trillion in debt today should be scary enough and easier to understand.
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And I hope the rest of the planet will start demanding it's money back soon. That would be fun.
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+garybsg +ehh90 +Learn Liberty I strongly agree that our debt is out of control. However, I have a question about the numbers. At the end when you are comparing our future unfunded liabilities against the world GDP, are you not comparing all future years of unfunded liabilities against the GDP for a single year?
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THESE NUMBERS ARE OLD. THE USA TREASURY DEBT IS NOW 19,000,000,000 (19 TRILLION) AND UNFUNDED LIABILITIES FOR MEDICARE AND SOCIAL SECURITY IS OVER 100 TRILLION
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The US unfunded liabilities exceed the entire GDP of the earth....this would explain the drive to dominate the entire earth.
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The documentary "the four horsemen" brings some thoughts on this topic.
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And what if the state runs a surplus. As you stated, the income of the state are taxes. If taxes exceed what the state spends on the people, then money is flowing out of the private sector and into the government sector. This will result in a shrinking private sector. Now, how does an impaired private sector grow? Debt...
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Where is private sector debt? Household debt? Student loans?
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Yeah, that be a problem
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When you see it presented in such a simple way you begin to realise just how irresponsible the political classes have been.
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Ahh, well crap. This is sad. This is why Ill stick to bitcoins, thank you. Cause when they go for your bank accounts to pay off US debts, they wont be able to go for mine.
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Thank you so much for putting CC on all ya'lls videos!!!
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This is why progressive policies are a failure.
Libtard politicians use promises of free stuff to allure voters, and they get their free stuff for a time, but their children wake up in a country that is bankrupt.
Nothing is free, and socialism doesn't work.
It's time we get back to what America was meant to be.
Pay your own way, don't force someone else to pay your way. -
Very.
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I just realized this video is 4 years old. China's economy is far bigger than that now.
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Well correct me if I'm wrong, but it is the economic output of the entire planet FOR ONE YEAR vs 60+ years (post war) of debt accumulated by an economy that is about a half to a third of the world's economy yes?
Think that chart is a little misleading -
sounds like a conspiracy theory
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PART OF THE NATIONAL DEBT IS AN OUTRIGHT SCAM.
Why is the government issuing securities? In the old days when people used gold coins the government needed to borrow money because it could not manufacture gold. If the government needed gold it had to borrow it. Legal tender laws allowed the government to create paper money. The problem is that if the government is allowed to create money ex niholo (out of thin air), why does it need to issue securities? The reason is simple: it is a scam. The banks lobby for securities and the government issues them. Then the bank create counterfeit electronic money and buy the securities. Then we have to pay interest on these securities that the banks got for free.
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