The Bankrupting of America
What happens when you spend money you don’t have? Everyone knows the answer to that question. But what happens when the government does it on an unprecedented scale? Sooner or later, all debts have to be repaid. The question is, who’s going to foot the bill? Economist Stephen Moore has the answer.
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Script:
INT. HOSPITAL ROOM – DAY
Sitting up in bed, Mom holds her precious new baby in her arms. Alongside her, Dad beams with pride. In the background, a doctor smiles. So does the nurse, dressed in her scrubs.
GOVT DEBT COLLECTOR (VO)
I’m here to collect your $600,000 share of the national debt!
The Government Debt Collector, clad in a black suit, stands in the doorway
Mom turns white with horror.
DAD
“What! We don’t have $600,000!
GOVT DEBT COLLECTOR
I wasn’t talking to you. I was talking to your baby.
He reaches over and tags the baby’s tiny little toe with $600,000 IOU.
GOVT DEBT COLLECTOR
Have a nice life.
Open mouthed, Mom, Dad, Nurse, Doctor and finally Baby watch him exit.
INT. Maternity Ward
See the baby with a toe tag.
—
PRESENTER SEGMENT:
This isn’t a made-up horror story. It’s real. It is the unpaid credit card bill our kids and our grandkids are facing—money they didn’t spend but will have to pay.
The Democrats point their finger at the Republicans. The Republicans point back at the Democrats. The truth is that the politicians of both parties have brought us to the edge of this financial cliff.
They say they’re spending all this money with the best of intentions: the trillions are needed to end hunger and reduce inequality; provide everyone with free health care; and save the planet from global warming.
But there is no way around the simple math. You can’t spend what you don’t have—not indefinitely. Debts have to be repaid.
We’ve been sweeping this problem under the proverbial rug for decades, but now we’re running out of rug.
During the year of the Covid crisis, a Republican president, Donald Trump, approved a massive increase in government spending. His reasoning went like this: We shut down the economy. We have to help people out.
Did he go too far? Maybe, but just about everyone agreed something had to be done.
Then, Joe Biden, a Democrat president, entered the White House and called for $1.9 trillion in additional spending—even though one trillion of the previous Covid relief money had not yet been spent, and even though the economy was already well on the way to recovering.
Then the new President quickly asked for another $1.1 trillion for “infrastructure”, which used to mean projects like roads, bridges, and airports, but now includes giveaways like electric car charging stations for Tesla owners. By the way, 19 Republican Senators joined the Democrats. Nobody is blameless.
But, wait—that only turned out to be President Biden’s opening bid. He put another $3.5 trillion in spending on the table for a whole slew of goodies: free child-care, free community college, student loan forgiveness, expanded Medicare and Medicaid, vast subsidies for “green” technology, and on and on.
Add all this extra spending and you arrive at $6 trillion dollars. Yes, that’s a six with 12 zeroes after it.
This is a level of spending we have never seen.
The numbers are so big, it’s impossible to grasp. But to offer a little perspective consider this.
$6 trillion is more money (adjusted for inflation) than we spent on The Revolutionary War, the Civil War, World War I, World War II, the Louisiana Purchase, the Transcontinental Railroad, the Interstate highway system, and the Moon Landing combined.
Normally, we borrow money as a nation during a period of crisis. Then, when the crisis ends, we start to pay down the debt.
What the Progressive Left wants to do is launch the biggest spending spree in American history—after the crisis is over!
What’s looming ahead, however, is a new crisis: a nuclear-sized debt bomb. Our multi-trillion dollar national debt was bad enough before all this proposed spending.
For the complete script as well as FACTS & SOURCES, visit https://www.prageru.com/video/the-bankrupting-of-america
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The dark question is where are they getting all this "free money" to pay for all of this?
Debt is actually not a problem, we just have to increase economic output more them economic input.
Well it's not our problem, it's the next generation's problem.
It’s called corruption!
The debt needs to be lowered….pure insanity!
I honestly didn't really start to see what good people (outside my family) looked like let alone friends until I was in my middle school days as time goes on i meant with a friend she became a good friend We Started a conversation, Picking up on social cues,Following social rules,Listening to others, We were open to trying new things,Pursue common interests and Make the effort to stay in touch..
This aged well
I didn't realize it was that high. Doing a rough calculation of 30 trillion in debt with 300 million I was thinking it was 100k per man, woman, child, grandparent…every citizen in the US whether you're 1 month old or 100 years old, employed or unemployed. Maybe yours is adjusted for the middle class….sheesh
It is NOT be coincidence, it is by DESIGN.
THIS is NOT a cultural, political, and/or even a economic conflict, but a spiritual one, foreshadowing what is to come to awaken those who are still asleep, but need to be awaken.
“For GOD did not appoint us to wrath, but to obtain salvation through our Lord Jesus Christ, who died for us, that whether we wake or sleep, we should live together with Him.” (1 Thessalonians 5:9-10)
“For we do not wrestle against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this age, against spiritual host of wickedness in the heavenly places.” (Ephesians 6:12)
Therefore, those that seek to enrich themselves at the expense of others, and who seek to destroy the United States of America, the first and ONLY nation established by Judeo-Christianity have revealed themselves for who and what they are and have chosen to be.
“Either make the tree good and its fruits good, or else make the tree bad and its fruits bad; for a tree is known by its fruits. Brood of vipers! How can you being evil, speak good things? For out of the abundance of the heart the mouth speaks. A good man out of the good treasure of his heart brings forth good things, and an evil man out of the evil treasure brings forth evil things.” (Matthew 12:33-35)
YOU will know them by their fruits." (Matthew 3:10, 7:15-20, & 12:33; Luke 6:43-45; John 15:2 & 15:6; 2 Corinthians 11:13-15)
“For those who are such do not serve our Lord Jesus Christ, but their own belly, and by smoothing words, and flattering speech deceive the hearts of the simple.” (Romans 16:18)
The devil (the first of GOD's creations with free will that LEFT the RIGHT way of GOD, and in so doing became the first leftist, who in turn has manipulated many to follow him into darkness and wilderness), want nothing more than to destroy GOD's children, and the first free nation established by GOD's children, and he does this by promoting immorality, and impoverishing it, for the sole purpose of destroy it, which is what he and his minions seek to do, and turn it into another failed leftist nation, to fall in the same manner that every other leftist society have, which fell just like the first human city/civilization did that LEFT the RIGHT way of GOD (Genesis 11).
“For the LORD your GOD will bless you just as He promised you; you shall lend to many nations, but you shall not borrow; you shall reign over many nations, but they shall not reign over you.” (Deuteronomy 15:6)
“If my people who are called by my name will humble themselves and pray and seek my face and turn from their wicked ways then I will hear from heaven and will forgive their sin and heal their land.” (2 Chronicles 7:14)
Joshua 24:15
John 8:32 & 14:6
1 Corinthians 2:1-9
Psalms 23, 28:7, 34, 35, 37:30-31 & 40
Ephesians 6:10-18
Strength and Honor!
America has to be financially weak in order to usher in the new world order.
it seems intentional, spend spend spend bankrupt the nation
Suggestion- Perhaps Prager U has this but providing information on "what is "the intial purpose of each establishment starting with the FEDs would be appreciated.Thank you for your content!
That's Coward and Piven…..
Coward and Piven at work?
Why aren't the real experts running the country instead of the criminals we now have? We're doomed.
The reds love buying American debt, that's their nest egg!
thanks for making the connection between inflation and the rise of the nazi regime. at the time, thousand of children were literally dying of starvation each year in germany. no wonder people voted for a radical government that would change this. overspending WILL bring the downfall of democracy.
Won’t happen. Big Government never gives up control.
Damage already done, by design btw. Deep State wants to tear down the republic.
I reiterate…eff em all
Eff em all
Congress is one huge money laundering machine, the vast amount of money pours into their slush funds through various hidden vehicles that no one is allowed to audit. Our government is at war with every day Americans and has sold us out to the highest bidder. Vote them all out and demand accountability. Audit Congress and all their relatives, audit all FED employees in crucial positions and their families. Follow the money and you'll find the den of thieves.
Keep essential government services running, and pay the rest down on the debt. Otherwise… BOOM
The U.S. gross federal debt to GDP is 137%. What ever happened to the thought process that above 60 or 70% would hinder economic growth and place a country at risk economically? 137% doesn't seem sustainable. Unless there is something built into the U.S. economy that allows for unlimited spending, but that doesn't make sense to me. Is this the beginning of the end for the United States as we know it? I wonder what the reimagined version will look like.
This video has clarity and easy to understand by the common folks but the sad part is not many folks will bother with this important message.
"We need to tax the rich" they say.
So.. Why do the politician's pockets stay so full? 🤔 Hmmmmm….
It’s even worse now
Thank you for this video. Has it occurred to anyone reading this response, that inflated runaway domestic and foreign dept is likely the most effective means to sack and bring to demise sovereign nations. The economic principles that hold true for individuals, families, small and corporate businesses, are also equally applicable to nation states. Anyone holding large amounts of financial dept, with the inability to repay that felt will tell you that is the quickest means to becoming enslaved to your creditors.
Two universal economic truths that have resonated throughout the ages include: If you don’t work, you don’t eat (everyone contributes), and you can’t spend your way to prosperity.
It’s now 2022, and many Governments are enroute to incurring the biggest National debts ever undertaken to piss away money not possessed on purchases unwarranted – all prompted and promoted under special interest causes.
My take is that many of these Politicians are seditionists hell bent on the financial ruin of their sovereign states – in preparation for the One World Order (Great Reset) as popularized in the WEF 2030 mandate.
There is no greater threat and future promise of national demise than being brought to heal by your creditors than poverty, in which both Politicians who helped create the calamity coupled with Global Elitists will state it was just the timely end to economic systems that were erroneously flawed to begin with.
Unfettered, unwarranted, unchecked national dept will be the undoing of us all.
For those less adept at connecting the dots ponder the correlation of the following variables:
Benign bat virus weaponized to infect humans on a global basis, hastened chemical concoction touted as safe proven elixir to combat said virus, lock downs, subjugations, mandates, vast deceit to control the ebb and flow of the global citizenry, mass agricultural land grabs by the richest, abortionist hysteria, increased global conflict and domestic violence, assault on local currencies, constant green energy propaganda, unfounded climate change haranguing, er Rossini of personal and corporate rights and freedoms, mass disarmament of the populous, pro claimant of peaceful protesters as Nazi sympathizers, etc, etc. Etc.
No wonder america is a pirate
More relevant than ever.