Five Misconceptions About the National Debt
Five Misconceptions About the National Debt
1)The proper measure is the total debt and not yearly deficits.
2)The national debt is actually below the post-WWII average.
3)The debt is not large enough to raise interest rates.
4)The main concern is future debt.
5)And, economic growth reduces the debt burden.
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21 trillion now
10T when this video was made, 16T today. Great Job Guys!
The best way to reduce the debt burden is to stop borrowing and start paying off the debt.
Why does the government keep spending more money than it has?
Do the people in the top comments even know what they are disagreeing with. They obviously don't since they didn't refute anything. And I would like to point out that this was posted in 2008 and things have obviously changed since then. IE the national debt has more than doubled, changing our need to be alarmed.
@white25rs National debt quadrupled under Reagan+Bush 1 and doubled under Bush 2 …that is reality and I know many so-called "conservatives," Republicans, Tea kool-aiders, and Fox infotainment people don't like embracing reality and facts. lol ….yup facts do make you mad because facts don't line up with the mendacity and kool-aid created and fed to you by right wing corporate/wealth machine. Try to break your addiction to denial of facts.
@seahorse05 wrong wrong wrong, keep getting your facts from .gov sites jackass
So how are these considered misconceptions if you support every one of these claims in detail? Your logic lacks reason.
The issue that "conservatives," Republicans and republican Tea people think is the problem with Obama and Democrats. And that is the National Debt. The facts: Reagan 1.9 Trillion; HW Bush: 1.5; Clinton: 1.4; GW Bush 6.4; Obama: 2.4.
Last 30 years of National Debt:
Democratic Party Presidents: 3.8 Trillion Dollars
Republican Party Presidents: 9.8 Trillion Dollars
Nothing "conservative" about ^^ the nearly 10 Trillion GOP created debt.
The large Debt is a Republican/conservative created problem.
The numbers at :34 are way off. After WW2 our debt to GDP ratio was over 120% and right now we're around 80%.
what did he say 3 days later when the lehmann collapsed????? looks idiot, and proving the same.
@MrShaiker I'm not even going to get into an argument with you about whether you're right or wrong. However, you have told us to educate ourselves. That is more hypocritical than anything I've ever heard a politician say. You can barely choose the correct words in a sentence. "HEARD" instead of, "Herd". Stop pretending like you know better, and everyone else is clueless. Considering you said, "U AMERICANS" I'll assume you aren't from America. News flash fucktard, your government lies to you too.
Video from the biggest TOOL on this planet.
• a lot of people dont get it. our high debt and taxes are not a result of social spending so much as a result of fractional reserve banking. for starters, watch money as debt. then research how this situation came to be. our leaders are corrupt puppets that work for the private banks. your right to vote is just an illusion of choice. dont be stupid. educate yourselves.
END THE FEDERAL RESERVE U AMERICANS ARE SHEEP FOLLOWING A HEARD WHILE THE ELITE COLLECT YOUR INCOME TAX
@sdfkjllshadflhadfshl
Most of that debt was inherited from your boy Bush. 10 trillion at the end of 2008. Also, what do you expect with the worthless economy that was handed to the new president? Just stating the facts here.
You talk about reducing the debt burden, just as a slave owner would encourage his slaves to work faster in order to get more time to take a rest. What a nice act of concern. How about if we kick the slave owner in the butt, and ELIMINATE the debt burden altogether? Remember 1789. The time for the banksters to face justice will come.
All money is created out of debt. This person claims that economic growth reduces the debt burden, but how can money spinning faster inside the economy in any way decrease the burden of debt towards the bank system? Only if new loans are taken, it eases the debt burden of previous loans due to inflation, but that is only at the cost of getting even more into debt!
acording the the national debt clock we are now just below 14 trillion dollars. currently at 13,932,400,000,000 in only a month or a few months i would not be surprised to see a national debt of 14 trillion or a few dollars over that. however some of these misconceptions this man has mentioned were true and others were false. as it turns out economic growth does make the debt seem less. and also tax cuts are nessesary is false. we could certainly aford to cancel the tax cuts and up the taxbase.
the heiratage foundation… oohh boy
just look at the guys face…you know he doesnt mean what he's saying.
How silly is that, capitalism without capital, financed by three or four european states, plus a handfull of emirates and semi-authoritarian states. This Keynes legacy is going to prove more ruinous to the western economic development than the meddling of the catholic chuch on financial matter some centuries ago.
The american economy will have to reinvent itself to allow the public finances to get out of this. That could be possible after the war, but it does not seem likely now.
Most importantly, having had its debt financed by foreign nations puts the US and specially american government in a situation where they will not be the ones calling the shots anymore. Capital accumulation rules and always will. America and parts of Europe self-imploded thanks to bad Keynesian economics.
1. Yeah, and total debt is what, 14 trillion now?
2. WWII producer economy, money lending; now? comsumer economy, borrowing 3 billion a day to stay afloat
3. …. okay
4. Thanks for noticing, people have been talking about this: passing debts onto new generations isn't gonna work out too well
5.. What good is "economic growth" if it's just in the form of inflated bubbles financed with cheap credit and/or involves taking on more debt. It's gotta be "growth" that works long-term.
and that was what the nazis said
Although the national debt is more significant than the annual deficits, however, the national debt continues to surge ever since the national debt clock was established. I remember H. Ross Perot emphasizing about our outrageous national debt of 1 trillion dollars. Now we're approaching 9 trillion dollars in national debt. Although the Federal Reserve has been resilient to maintaining low interest levels, however debt is the greatest burden for any effort to stimulate economic growth.
Go ahead and keep believing this garbage at your own peril. Central Banks are going to cause the greatest depression. The only question is when will the run happen towards hyper inflation.
This must have been done with "fuzzy math". Or made back in about 1987, as the national debt hasn't been $5 trillion since then. How on earth could anyone think paying 8% of your money to interest alone is acceptable? Or that we somehow have enough money to afford this.
Ask yourself, do you think it's okay to pay out 8% of your money to interest alone?
If you really want to know about the debt listen to David Walker, former Comptroller General of the US.
um… this video says the debt is $5.4 trillion… but I think that the debt everyone else is talking about is the $13 trillion dollar one… which according to the video… is bad. lol
The Heritage Foundation is the enemy! Don't trust them. They want to keep us in debt.
GDP/debt ratio is misleading. In 1944 the GDP did not include services, only production. Nowadays you can include services, so comparing GDP from 1944 to 2009 is not apples to apples. Wake up people! The govt. is lying to you and distorting figures and you're buying it hook, like and sinker.
It is propoganda because the person in the video clearly does not understand fractional reserve banking and the role of the FED. He is lying. do some research on here just type in Federal Reserve and start watching.
'Economic growth reduces the debt burden.'
Assuming that the economy just grows and grows. Hindsight is a wonderful thing.