Politicians talking about bullshit numbers. This is serious debt which affects interest rates with everything else. Print more and print more digging ourselves a big hole. I don't see these numbers coming down anytime soon with brics de-dollarization. It's a catastrophic failure waiting to happen. I don't think anybody pays attention to these numbers.
This "report" is disingenuous in many ways and misrepresenting the issue. 1) We cannot compare debt from 100 years ago to today's debt without accounting for inflation. 2) 18th century govt. spending rates have absolutely no relevance to the debate over today's govt. spending rates because the US economy has grown exponentially since then, as has most economists' understanding of expansionary fiscal policy. 3) There is no honest comparison between "household"/private debt and public debt. They are *very* different things. 4) Higher target Fed rates are temporary, and only affect new debt added while rates are high. They have no impact on existing debt. 5) Expansionary fiscal policy has been working for long time in developed countries around the world - national debt and GDP grow together by design. 6) Implying that we have to "print" our way out of debt because of declining influence of the US dollar as a petrodollar or reserve currency is misleading. We "print" money to expand the economy - it is literally how most money is created (look up "open market operations"). It's not some secret conspiracy. The US GDP is not suddenly going to trend negative every year, and Dr. Elliot's claim that there is "no demand" for US currency is flat out wrong. Inflation is, and has long been, higher in most of the rest of the world. There is a very good reason why the US dollar continues to be in demand as a way for entities in other countries to trade with a stable currency and hedge against inflation.
2 million Americans are incarcerated, and close to 200,000 have life sentences. If it costs $100.00 a day to house, feed, cloth, guard... a convict; 365 x $100 = $36,500 x life _50+ years) = $7.3Trillion per yr x 50 = 365Trillion dollars over 50 years to house convicts provided that the cost of living doesn't raise in the next 50 years. What was that again about a deficit?
Our economy is based on spending plus the multiplier effect from all that spending, we have grown accustomed to that lifestyle, if government cut spending by trillions to balance the budget, that cut plus the negative multiplier effect would be a depression. However, we would adapt to a balanced budget, that would become our new normal and we would be better off in the long run.
@user-lm9fe4uw3s OK, well we'll just keep going longer until we're inventing new numbers, like trazillionillionbillion dollars. Maybe then someone will just press reset
The question is who is going to pay all this future debts? The next generation will pay more taxes, retirement benefits will get reduce and retirement age will go up. America is a dream country for a nightmare
Oh man, there is so much wrong with this "report"... 1) You cannot compare debt from 100 years ago to today's debt without accounting for inflation. 2) Blabbing about "drunken sailor" spending compared with 1776 spending rates without mentioning monumental changes to the size of the US economy nor the changing understanding of expansionary fiscal policy is a terrible mistake. 3) Comparing "household" debt to public debt as if it were a straightforward comparison is completely disingenuous. 4) Higher rates are ONLY a concern for NEW debt added while rates are high. It does not affect EXISTING debt. 5) Expansionary fiscal policy has worked for a very long time in developed countries around the world - national debt and GDP grow together by design. 6) Implying that we have to "print" our way out of debt because of declining influence of the US dollar as a petrodollar or reserve currency is also wrong. It's not like the US GDP is suddenly going to trend negative every year. Dr. Elliot's claim that there is "no demand" for US currency is LUDICROUS. Have you ever taken a look at inflation around the world? There is a GOOD REASON why the relatively stable US dollar continues to be in demand as a way to hedge against inflation, which is much higher around the world. All that said, there is a debate to be had about what percentage GDP growth should accompany a certain percentage of national debt growth. The debate has been going on for as long as national debt existed. That is a very different debate than what was presented in this "report".
life is making me feel like shit. It is a sad day, as flight director of the carrier force Hardknocks we will not be able to support the United States of America in virtual reality with its membership in community affairs for the year 2024. Also the carrier group pitching deck and the task force Greensleeves are withdrawing their support as well. All of these boats fly for Genesis under the Constitution that you need self-evidence in inalienable rights to be a real person and freedom fighter for community standards. We are all located on Windowpane Island situated on cloud nine … (a God's eye view to the universe and reality check for where money comes from). Along with other carrier groups that has yet to be mentioned, our purpose is to keep life real when vanity is making a joke of its existence. Actually, we came here to discuss what is going on at the Supreme Court but after checking their record on homelessness and global warming we had no other choice but to withdraw our support for the only superpower left to this world. We're hoping the future will be brighter in business with other countries and their affiliations in corporations controlling people's money. It has come under our observation that to queer life in its existence is not what a sane person would do. As far as the United States is concerned a country divided against itself cannot stand… It's just a matter of time! Stay tuned, more postings are imminent as we travel the oceans around the world. In 2024 Making babies is out of the question, legalizing suicide is. It's all out of the bottle now China has already introduced a social credit system that puts goverments in charge of human happiness depending on how well people are willing to behave. You have bullying to suicide being taught in elementary school teaching children only the better bully will survive along with social media telling them "don't be a snowflake". You have TV shows electing presidents by how much hate and backstabbing a person is willing to create to get to the top of the world winning their own brass ring (The Apprentice). You have the criminalization of homelessness creating the Walking Dead on horse tranquilizers when all you have to do is lose your home in a flood to belong. Most of all you have a Constitution that has lost it's heart to Satan in the way of avarice (extreme greed) killing (in God we trust) with ruling with Satan instead. In the words with Wall Street that greed is good you have a new higher spirit to attain yourself after… "Greed Is Good, I am not a destroyer of companies, I am a liberator of them! The point is, ladies and gentlemen, that greed, for lack of a better word, is good. Greed is right, greed works. Greed clarifies, cuts through and captures the essence of the evolutionary spirit. Greed in all of its forms. Greed for life, money, love, knowledge, has marked the upward surge of mankind, and greed - you mark my words - will not only save our money, but that other malfunctioning corporation called the U.S.A." Thank you very much.. Sowing your seed to Satan so computers (AI) can rule over your life where souls doesn't matter is not worth bringing a baby into this world. In the spirit of "the children will lead you" the genie is already out of the bottle. The legalization of suicide is where the rubber meets the road today. PS. Vanity creating its artificial reality along with censorship, fake news, and corrupt politicians, making commercials is what America does best. Keeping people in the dark ensuring anarchy stays under control is the reason why. Today caring about truth in a war with Armageddon is where you will find the freedom fighters of today. Never seen before except in the time of the 10 Commandments (when Ramsey tried to destroy God) has the world shown so much hate in the existence of God. With Bullying to suicide coming from the understanding that people were created in God's image ("I am what I am") the little children of today are already learning there is nothing left in this world to live for. "A country divided against itself cannot stand". After American falls (the only superpower left to this world) you have to wonder what is coming next and who will be around to care. One way or another, God will have the last word, but until then the world has to live in fear of artificial intelligence ruling over everybody's life.… Science has never proven that humans have to have a soul to exist! For all the people who already do not have a soul not all is lost, with the help of computers having all the information there is to this world I am sure mankind will make one… The Question Is How Much is the World Bank Going to Charge? When is America going to start using AI to prevent crime it already has my vote? America needs a social credit system to keep crime from showing up in the first place. America is the leader of freewill in the modern world, isn't it time America starts showing the rest of the world how it is done? "Make America great again" don't be a snowflake, "might makes right".
Our monetary system is based on debt. They'll just keep adding to the debt. It's not possible to reverse it.
✊ keep speaking the TRUTH ✊
Grateful for this coverage - in plain English
I enjoyed watching this without the bullshit
Politicians talking about bullshit numbers. This is serious debt which affects interest rates with everything else. Print more and print more digging ourselves a big hole. I don't see these numbers coming down anytime soon with brics de-dollarization. It's a catastrophic failure waiting to happen. I don't think anybody pays attention to these numbers.
USD 40 Trillions by end of 2024 ???
$34 trillion in debt ?
It's OK, don't worry about it, just ask the Federal Reserves to keep printing more dollar to pay the debt.
Thank you for reporting on this. Not enough Americans realize how bad this is.
This "report" is disingenuous in many ways and misrepresenting the issue.
1) We cannot compare debt from 100 years ago to today's debt without accounting for inflation.
2) 18th century govt. spending rates have absolutely no relevance to the debate over today's govt. spending rates because the US economy has grown exponentially since then, as has most economists' understanding of expansionary fiscal policy.
3) There is no honest comparison between "household"/private debt and public debt. They are *very* different things.
4) Higher target Fed rates are temporary, and only affect new debt added while rates are high. They have no impact on existing debt.
5) Expansionary fiscal policy has been working for long time in developed countries around the world - national debt and GDP grow together by design.
6) Implying that we have to "print" our way out of debt because of declining influence of the US dollar as a petrodollar or reserve currency is misleading. We "print" money to expand the economy - it is literally how most money is created (look up "open market operations"). It's not some secret conspiracy. The US GDP is not suddenly going to trend negative every year, and Dr. Elliot's claim that there is "no demand" for US currency is flat out wrong. Inflation is, and has long been, higher in most of the rest of the world. There is a very good reason why the US dollar continues to be in demand as a way for entities in other countries to trade with a stable currency and hedge against inflation.
It’s not possible for this to keep going up so the real question is how will this effect the world when the debt defaults?
Work with China to help to reduce further DEBT.
Depression and WWIII. Think we can 3 peat?
That’s over $100,000 USD per citizen on debt now. USD is getting broken 😢
The defense budget is much higher than this “economist” admits, please !
2 million Americans are incarcerated, and close to 200,000 have life sentences.
If it costs $100.00 a day to house, feed, cloth, guard... a convict; 365 x $100 = $36,500 x life _50+ years) = $7.3Trillion per yr x 50 = 365Trillion dollars over 50 years to house convicts provided that the cost of living doesn't raise in the next 50 years.
What was that again about a deficit?
Damn what’s America’s credit score??
More than the stock market value
so thats why the stock markets fake?
Exactly. Playing games is pricey.
Embarrassing!
In 6 months the US borrowed the equivalent of the F* FRENCH GDP ... ($2,9 Trillion Dollars)
HOW THIS CAN END WELL? 😂
I just found out that drunken sailers spend way to much money.
Our economy is based on spending plus the multiplier effect from all that spending, we have grown accustomed to that lifestyle, if government cut spending by trillions to balance the budget, that cut plus the negative multiplier effect would be a depression. However, we would adapt to a balanced budget, that would become our new normal and we would be better off in the long run.
It's just nuts. Just cancel all world dept
That would cause massive chaos. Test debt is someone else’s asset. Would u want ur bonds to just disappear
Yeah that's not gonna work!
@user-lm9fe4uw3s OK, well we'll just keep going longer until we're inventing new numbers, like trazillionillionbillion dollars. Maybe then someone will just press reset
Debt is a global problem that no one really seems to know how to or even always want to deal with.
that scary
Argentina there’s no part of it at the bridge
They will inflate the debt away
The west is done for 🤣🤣
Oh yeah? Who's gonna collect?
@@psychopompous3207 The IRS from you, your family, and your childrern, and their children, The west is lost and their future is forfeit
Uh oh someone did a poopy
Gold should be USD 100,000 per ounce, US debt is all solved
The question is who is going to pay all this future debts?
The next generation will pay more taxes, retirement benefits will get reduce and retirement age will go up.
America is a dream country for a nightmare
Oh man, there is so much wrong with this "report"...
1) You cannot compare debt from 100 years ago to today's debt without accounting for inflation.
2) Blabbing about "drunken sailor" spending compared with 1776 spending rates without mentioning monumental changes to the size of the US economy nor the changing understanding of expansionary fiscal policy is a terrible mistake.
3) Comparing "household" debt to public debt as if it were a straightforward comparison is completely disingenuous.
4) Higher rates are ONLY a concern for NEW debt added while rates are high. It does not affect EXISTING debt.
5) Expansionary fiscal policy has worked for a very long time in developed countries around the world - national debt and GDP grow together by design.
6) Implying that we have to "print" our way out of debt because of declining influence of the US dollar as a petrodollar or reserve currency is also wrong. It's not like the US GDP is suddenly going to trend negative every year. Dr. Elliot's claim that there is "no demand" for US currency is LUDICROUS. Have you ever taken a look at inflation around the world? There is a GOOD REASON why the relatively stable US dollar continues to be in demand as a way to hedge against inflation, which is much higher around the world.
All that said, there is a debate to be had about what percentage GDP growth should accompany a certain percentage of national debt growth. The debate has been going on for as long as national debt existed. That is a very different debate than what was presented in this "report".
Either way, we are doomed. What are you blabbing about??
Thanks JOEY! $40 Billion before JOEY is kicked out! America First! We the people cannot pay this debt. Goodbye America inless AMERICA FIRST
people of 2023 ----- Who cares????
What else is new lol
lets give some more to refugees
Credit cards on the way
Bidenomics😂😂
life is making me feel like shit.
It is a sad day, as flight director of the carrier force Hardknocks we will not be able to support the United States of America in virtual reality with its membership in community affairs for the year 2024. Also the carrier group pitching deck and the task force Greensleeves are withdrawing their support as well. All of these boats fly for Genesis under the Constitution that you need self-evidence in inalienable rights to be a real person and freedom fighter for community standards. We are all located on Windowpane Island situated on cloud nine … (a God's eye view to the universe and reality check for where money comes from). Along with other carrier groups that has yet to be mentioned, our purpose is to keep life real when vanity is making a joke of its existence. Actually, we came here to discuss what is going on at the Supreme Court but after checking their record on homelessness and global warming we had no other choice but to withdraw our support for the only superpower left to this world. We're hoping the future will be brighter in business with other countries and their affiliations in corporations controlling people's money. It has come under our observation that to queer life in its existence is not what a sane person would do. As far as the United States is concerned a country divided against itself cannot stand… It's just a matter of time! Stay tuned, more postings are imminent as we travel the oceans around the world.
In 2024 Making babies is out of the question, legalizing suicide is.
It's all out of the bottle now China has already introduced a social credit system that puts goverments in charge of human happiness depending on how well people are willing to behave. You have bullying to suicide being taught in elementary school teaching children only the better bully will survive along with social media telling them "don't be a snowflake". You have TV shows electing presidents by how much hate and backstabbing a person is willing to create to get to the top of the world winning their own brass ring (The Apprentice). You have the criminalization of homelessness creating the Walking Dead on horse tranquilizers when all you have to do is lose your home in a flood to belong. Most of all you have a Constitution that has lost it's heart to Satan in the way of avarice (extreme greed) killing (in God we trust) with ruling with Satan instead. In the words with Wall Street that greed is good you have a new higher spirit to attain yourself after… "Greed Is Good, I am not a destroyer of companies, I am a liberator of them!
The point is, ladies and gentlemen, that greed, for lack of a better word, is good. Greed is right, greed works. Greed clarifies, cuts through and captures the essence of the evolutionary spirit. Greed in all of its forms. Greed for life, money, love, knowledge, has marked the upward surge of mankind, and greed - you mark my words - will not only save our money, but that other malfunctioning corporation called the U.S.A."
Thank you very much.. Sowing your seed to Satan so computers (AI) can rule over your life where souls doesn't matter is not worth bringing a baby into this world. In the spirit of "the children will lead you" the genie is already out of the bottle. The legalization of suicide is where the rubber meets the road today.
PS. Vanity creating its artificial reality along with censorship, fake news, and corrupt politicians, making commercials is what America does best. Keeping people in the dark ensuring anarchy stays under control is the reason why. Today caring about truth in a war with Armageddon is where you will find the freedom fighters of today. Never seen before except in the time of the 10 Commandments (when Ramsey tried to destroy God) has the world shown so much hate in the existence of God. With Bullying to suicide coming from the understanding that people were created in God's image ("I am what I am") the little children of today are already learning there is nothing left in this world to live for. "A country divided against itself cannot stand". After American falls (the only superpower left to this world) you have to wonder what is coming next and who will be around to care. One way or another, God will have the last word, but until then the world has to live in fear of artificial intelligence ruling over everybody's life.… Science has never proven that humans have to have a soul to exist! For all the people who already do not have a soul not all is lost, with the help of computers having all the information there is to this world I am sure mankind will make one… The Question Is How Much is the World Bank Going to Charge?
When is America going to start using AI to prevent crime it already has my vote? America needs a social credit system to keep crime from showing up in the first place. America is the leader of freewill in the modern world, isn't it time America starts showing the rest of the world how it is done? "Make America great again" don't be a snowflake, "might makes right".
$2,000,000,000 per day to service the theft of public funds?? A 100% total Outrage.