The U.S. national debt is nearly $33 trillion as of early September 2023. Every year since 2001, the U.S. government has spent more money than it takes in, which means it has to borrow money to make up for the difference. The national debt is frequently discussed as a danger to future generations, but some economists say there’s no reason to get the national debt down to zero. One reason for that is without the debt, there would be no federal government securities, such as Treasury bonds, which provide investors a safe place to park their money while accruing interest. Most economist warn, however, that there’s a balancing act when it comes to the national debt. Watch the video above to learn more about why the U.S. can’t get a handle on the national debt and whether it even has to.
Correction on Sept. 12, 2023 at timecode 0:11: The voice over has been updated to reflect the national debt grew $300 billion between July and September 2023.
Chapters:
00:00 — Introduction
01:39 — The role of debt in the economy
03:28 — How debt can harm the economy
06:17 — The global economy
Produced by: Charlotte Morabito
Edited by: Amy Marino
Animation: Jason Reginato
Supervising Producer: Lindsey Jacobson
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Why The U.S. Won’t Pay Down Its Debt
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Deficit spending has the same exact effect as counterfeiting so naturally it causes inflation as it waters down currency in circulation. The debt is an accounting of how much value government has extracted from the private sector beyond their ability to tax it away. Insane debt is not OK. It promotes avenues of leaching from production beyond public needs. That's a nice way of saying that insane government spending is parasitic and corrupt.
The debt is an "accounting record". Stephanie Kelton is an embarrassment to Stony Brook University. It's money the government owes people. The "intragovernment" this glazes over is primarily money borrowed from your social security system you gave money to. In the first 30 seconds this lost ALL credibility.
nbc is cia
✨✨That debt credit should be extended to the ppl as THEY USE OUR BIRTH CERTIFICATE BONDS AS COLLATERAL TO PRINT THE MONEY🤌🏼💯
Only tax that we should have is state tax to help build state roads build more housing subsidize the cost of food at grocery stores and help with any social programs. We should have a national tax for our military and that's it the rest of the money that they tax on they decide to blow it on ever ending foreign wars, sending blank checks to countries they like bailing out big companies and banks that don't have our best interest at heart.
I googled up the term “gaslighting” and this video popped up.
Because politicians spend our tax money faster than they can get it Washington DC is a disgrace politicians have ruined America
Mortgaging the future of our children.
All these MSNBC assoc. love propagating ignorance.
We will waste $850B on interest this year servicing our debt all the while it increases. Is there no better use of $850,000,000,000?
The absolute 100% perfect and pure example of the greatest Ponzi Scheme ever.
Obama and Biden were when national debts had the largest jumps after WWII, went from below 40% to over 100% GDP. It was actually 124% at the end of 2023. Another Biden term will push that number even higher.
If you're born after 1970 you don't have to worry about going to hell
It will be overflowing with boomers
Japan isn't the reserve currency of the world, and a very, very high percentage of its debt is owned by the Japanese people. And their economy has been dying for years now.
"the national debt increased by 90% since 2020". That I don't think is true.
When they start comparing debt to the great GDP, you know you are a debt slave. The government people are debt slavers of the population, which is treason.
It’s not good at all, but somebody sure wants you to think so……..think on that.
Once again, youtube sent me to blend in with the sheep.
Stephanie Kelton is an idiot. The national debt is way more than an accounting record. That’s the same as looking at your outrageous credit card bill and saying, “oh that’s just an accounting record”. And, what she says at 6:00 minutes is worse. The government that can’t pay it’s bills defaults just like any household. Let us look to history to other countries that couldn’t pay their bills. Someone needs to fire Stephanie.
Certainly do not burden the current citizens…
Put it on the backs of our children …bravo .
None of it is going to the poor .
They have not figured out how to make people pay for it . Good old Federal Reserve .
please don't buy foreign product by your debt.
Money is flowing in the country therefore no stress on the Economy. Ultimately Market became strong.
Another way to sell Bonds , what is goin on, owner of business selling their own stock ?
I thought our 790 billion debt was bad but I guess not😂
Ofcourse Japanners inflationairy.
Their currency is completely different. It’s worth NOTHING
0,0068 USD
That’s what a Japanese dollar is worth.
This is propaganda 😂
Debt is our country's biggest threat!
The Federal Reserve is NOT a REAL BANK in the first place.
Interesting presentation. That one woman who says that the national debt is nothing to worry about comes off more like a PR person than a professor. The cost of debt service is seriously impacting us today, not just future generations. It's easy to say the govt. is just balancing printing money (=inflation) and taxation (=taking money from us). Every dollar of debt service comes out of our pockets either as taxes or inflated prices.
China would eat some anglos in the future l see!
I figured this was a Liberal slant about debt, with its soft narrators, and it is confirmed at around 10:10 mark…Liberal bias
Ive been feeling real french lately.
This is a stupid video. They talk about spending money on infrastructure and the future. The US spends the lion share of its budget on social spending which is basically the same as flushing dollars down the drain.
If the government budget functions nothing like a houshold budget, how come 48 out of 50 states regularly balance their budgets or even run surpluses and save that money for 'rainy day funds'. 48 States do that regularly, I think Illinois and New Jersey are the ones that don't. But still, 48 states, that's not a partisan thing. It seems that the states are all capable of doing something which our National government is incapable of. The U.S. Federal Government has not had a surplus since 2001.
Yet no one Talk about the Centr4l Bankst3rs 😂, their intervene are Crimin4l AF
The Fox that the Founding Fathers warned about 😒🫠🥲
When was the last time the Navajo Nation ball out the government in my life…🤔
Financial Surveillance (Transparency) is important when it comes to public funds politicians budget and spend. This is an oopsie today.
Why put the spotlight on private citizens spending their hard-earned cash when public servants are playing Monopoly with taxpayer money? It's time for a reality check: public funds need surveillance more than your Aunt Mildred's coupon-clipping habits. Let's keep an eye on the real players in this financial game, shall we?
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