The Debt Limit: Made Simple
This video takes you to the United Estates–a gated community in sunny Florida–to help you understand the impact of Congress decision to annually raise our nations debt limit without addressing the out-of-control spending that keeps us buried in debt.
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In reality the ones that are concerned are outnumbered by the ones unconcerned and distracted, that’s two against one. People like Steve are SELECTED and RE-ELECTED AGAIN AND AGAIN because he give the people things WANT. That’s how things work in the real world of democracy. We have tangled ourselves into a net creating an ocean of troubles to have things we really don’t NEED.
Since the community is not the issuer of currency, this story is false. The bank bailout wasn't paid for by taxes. Neither were the Trump tax cuts or all those illegal wars in the mid-east.
fuckin nancy
The homeowner association forced Steve to buy the solar street lamps, compost pile, and pool table. He didn't have a choice.
The only solution is to stay out of debt unless you can get away without paying it back with no consequence
America is sitting on trillions of dollars worth of oil. The dollar is the gold standard of the world and oil backs the dollar. There is more to it than simple economics. That is why the world governments want to globalize into one economic system and absorb America into it. But, who wouldn't want to own America, right lol.
I´m South American and I went through 3 currencies´ collapses, bank bail outs, riots, etc, in my lifetime, you dont fool anybody, tell the rest of the story.
1)This video didn't explain who decides on spending and implied it is the president. 2) This video implies most government spending is frivolous (the largest spend is in fact on pensions) 3) the analogy of a gated community is flawed i)it confuses microelectronics with macroeconomics ii) it takes no account of what radical Government cuts would have on the pay of residents citizens and therefore the income stream 4) it suggests congress fails to notice when the debt ceiling is being raised
Hard to believe that a "think tank" would perpetuate this kind of total nonsense. This video preys on peoples intuitive notions of economics. The irony is that believing this explanation and supporting politicians who believe it only leads to greater unemployment and wider variations in the boom bust cycle where the wealthy exploit the system and increase their wealth.
Total rubbish.
The ending is bollocks. It's been mathematically proven that it will be impossible to pay off the debt and interest.
EXCELLENT teaching tool !
Christopher Peterson It's too late to change. If we stop our massive spending we will have massive job losses and if we stop borrowing the U.S.will go into default, the dollar will tank and we will no longer recognize our own country as social unrest and anarchy will take hold. The best of the two evils is to stay on course and continue to live on borrowed time. One question are you underwater?
well too bad ron paul lost.
uhm, no, not really, well not at all.
US government debt is in us dollars, we make those, also the debt is mostly owed to the US citizens and company s, so we borrow from our selves.
Also the money is not spent on pools and sofas, it is spent on infrastructure and agencies that help to make the country wealthy, more spending on big projects and the populations welfare make the country better off.
Mormons are largely Masonic Order, with pieces of Islam, and pieces of Christianity baked in if you understand the origins of their actual belief system and temple rituals, i.e., you understand the real history and narcissistic motivations of Joseph Smith Jr. in inventing the fiction known as the Book of Mormon.
If the "Church of Jesus Christ" are Christian, so Muslims are also Christians. Just because someone believes in Jesus, doesn't mean he's Christian, especially if the concept of Jesus is so extremely different.
I'm more likely to call Muslims Christians, then Mormons.
Any way, as for me all religions are the same bullshit.
Yes you are Christians, but your church and concept are false. But don't feel bad most churches are false. The only people saved are those who have a personal relationship with christ and serve people that is all.
We are Christians. Church of Jesus Christ of latter day saints
That's because you are either "right-wing" or independent. Anybody who has thoroughly studied history know that Democratic policies has always been for the middle-class. (Payroll) Tax-cuts for the middle-class is effective, but the revenue stream being curtailed for millionaires and billionaires with constant proposals to increase Defense Spending and not in Infrastructure, Education, and Public Service; you'll have what we have now- an uneducated, unemployed population with a few rich people.
He's actually telling the truth and that's the problem with this country, it has a problem with TRUTH! Next thing you know you'll be telling me how Jesus created the Mormon Church!
It's the same system no matter who becomes president. Voting is a joke anymore. America screwed itself when it became dependent on it's people shopping in order to thrive. What a stupid way to run a country. Well, gee I hope people go shopping tomorrow our very existence is dependent on it. That's just fucking stupid. Let's close those politician resort golf clubs. The politicians can go suck corporate cock in a sleazy motel just as good.
Unfortunately not… But probably he's son Rand Paul. Check it out.
Ron Paul people… Ron Paul.
There's a famous "why democracies fail" quotation that goes like this. "A democracy can only exist until the majority discovers it can vote itself generous gifts from the public treasury. After that, the majority always votes for the candidate promising the most benefits. As result the democracy eventually collapses because of the loose fiscal policy".
Sadly unless we change our ways modern America seems to be on course to fulfill all of this.
Talk about a fairytale ending more than half of the voters are in the entitlement class and want no change except more handouts. We're in the toilet and Obama has his hand on the handle.
are future we have no future. We are passed the day where we can recover. All of this is just going to end and soon.
That model completely missed on one critical factor, media. And how people will listen to media more openly and believe what it says then listen to the good neighbor who's trying to explain the big issue. So what happens here, keeping in mind the media is part of the problem and just doesn't care and try's to ramp up the favors. So.. the time comes wen its finely time to pay up the debt, and its either a war to try and fight off the debt collectors or everyone ends up in prison or gutter.
Oh I thought the way to fix the community was to just lower everyone's rates and spend more on the guard shack….I mean that's te republican solution!
The internet s the last place to get real information. Let's make sure bills like SOPA never destroy it. We may not be completely free on the internet but it's definetly better than getting brainwashed by news channels like NBC, Fox and ETC.
Just like Ron Paul said, the easiest thing we should cut is foreign aid.
bwhahahhahahahahahahaha!!! i know right XD
I'm not sure Obama follows the reasoning…
The main issue is: "Where does all the money com from and with what right do the people who "produce the money and not its value" believe that the are entitled to anything more than they provided them selves, – a piece of paper or digitally nothing! – Ye wil know the truth and the truth will set you free!
Why doesn't this video talk about how Steve is buying a ton of guns for his buddies in the gun industry who want some of that sweet sweet HOA money, making up scare stories about neighboring HOAs, and then invading those HOAs with the guns he magically happens to have at the ready? And then, how does this narrative propose Steve balance his massive gun spending while keeping HOA fees low? You guys kinda skipped over that part.
BUT Tom didn't get voted to office next time around. :/
Well if say I could fit them all into a snowglobe, I'd smash them all to pieces then.
Actually this is quite good. It is over simplified to a point, but that's so the liberals can attempt to understand. Though they won't, they'll just trash the heritage foundation for telling them the facts. That government subsidized programs don't work if we don't have the cash. Our system was not designed for the liberals purpose. We can't sustain entitlements into infinity. The plan never has worked in any society in history. Liberals will fire Obama and say he's the problem, not the plan
Yeah like no want's to live in America.
Just stop with the immigration BS and realise that almost 80% our more are immigrantes our has father/grandfather as an immigrat so they should not be a hipocrate.
Yeah…. no.
Cutting the economy doesn't work; cutting spending in such a manner inevitably means that people go out of work, whom then start collecting unemployment finance from the government.
This of course means that the expenses could INCREASE instead of decrease…
Lol, Heritage Foundation. Why would you watch this and trust it as reliable?
And I guess from 1917 – 2011 it's been all Democratic Rule? This video can lick my left testicle…Heritage Foundation = bought by the Republicans!!! lol
The politicians of USA are even worse than Steve for the latter at least get the water pipes fixed after having extra credit money, while the former simply never deliver their promises once got elected.
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.
I see a lot of comments on how this video is nothing like the situation in the US, but i see no comments on why. That says a lot i think.
down with koch
This video is the worst kind of propaganda, a fluffy piece with no actual facts.
Proverbs 22:7 The rich ruleth over the poor, and the borrower is servant to the lender.
America and England are moving from a state of Recession to a Depression.
Only the Lord Jesus Christ can save us from this downward spiral.
Red China will collect on it's American debt in the near future.
Prepare yourselves for the new masters of the Fractured States of America….
Jesus Christ is the Son of the living God who died for your sins because he loves you!
Ask Jesus to save you & he shall ~
MY story will end when i die….like every else's….stupid man!!!