@LoiPham-w7w
Paid off my credit card 3 months ago, paid my vehicle off this past paycheck. Been extremely frugal with my spending for the past year and will continue to be so to work on my goal of financial independence. It's a long road and arduous road but I refuse to be a debt slave.
@vegasmando5307
Me with $5 to my name always watching these videos because it's the best entertainment I can afford.
@ChihiroSpritedAway
You did not mention how debt went down so drastically after the WW2. 50s and 60s had the highest tax rates on the rich and corporations. Coincidentally those were the decades with highest growth as the companies reinvested capital a lot to avoid the tax. When you cut the tax on the rich, they'd rather go buy assets and widen the gap with the poor which has been happening since Reagan and Thatcher era.
@QuigleyMarc
Five years ago, our debt problem was linear; now, it's exponential. It can't be solved mathematically without a reset. We have lost cabin pressure. Eighty percent of families will have their clocks cleaned. We will be crushed. Put your seat in the fully upright position. Close your dinner tray. 99% of our population doesn't understand this.
@t.hurson2298
When are people going to realize that 1) Trickle down economics doesn't work. It didn't work in the 80s, 90s, 00s, and 10s. Why would it work now? 2) Cutting taxes doesn't decrease debt. I don't know how anyone thought it would in the first place. 3) Allowing companies to get too large to fail and bailing them out with blank checks doesn't help anyone but stockholders and CEOs
@josephlantz6331
It’s incredibly frustrating that my two biggest options every election is Party A, who will increase the deficit, and Party B, who will increase the the deficit even worse.
@CoretteLécuyer
It's a bit annoying and unfortunate. When i was born, the national debt was $2,150 per person. Now it's over $100,000 per person. And I'm not even that old. It's truly alarming and best advice get out of debt, make regular investments and be debt free and financially stable.
@goodspellr1057
13:10 Balancing the budget wasn't just a "campaign promise". That clip is from the address to Congress that happened in March. In the span of two and half months, he's gone from calling for Congress to balance the budget to a "big, beautiful bill" that runs a $4T deficit.
@TheVIRTUOUSCYCLEPROJECT-xt3rk
I submit that it is a zeitgeist of this era. Every single course I ever took pertaining to anything financial always preached: "Tomorrow's money is cheaper than today's money so borrow to the hilt." I even had a brother-in-law who was an accountant who told me the same thing. GUESS what? They say tomorrow never comes but HERE IT IS!
@PeanutButterBrix
The US GDP hasn't outgrown the rise in national debt since 1974. There have been 10 federal tax cuts prior to the Big, Beautiful, Bill that have trotted out the same promise to outgrow the debt. None of them have ever allowed the US taxpayers to cash their chips in on this bet. Insanity or optimism?
@bearkayaker
This guy is more qualified to give his opinion than 99% of news journalists, yet is more objective with less opinion than 99% of new jounalist 😅
@caneprints
Many Americans are going to be in for a rude awakening when their standard of living falls like a rock. Not everybody will suffer, and that is important to remember. The wealth gap is going to increase like we have never seen. Sadly, nobody really has an answer to this.
@BillyLapTop
I remember back in the 1980's, in the US, on prime time television, a series of privately funded programs warned about the growing National Debt and its future consequences. Obviously those efforts fell on deaf ears, both nationally and globally. Eventually there will be a massive reset to this situation and what a wild ride that will be.
@TerryTrowbridge-s8f
Less sarcastic than usual, more detailed than usual. This is a great lecture for those of us without Econ degrees! Thank you.
@ECOpocket
The global financial system is built on credit—and no one really dares to look the issue in the eye or do anything about it. We’re not fixing the problem. We’re just buying time.
@CatsMeowPaw
I'm currently holidaying in Rome. Ancient Rome collapsed partly because of efforts to debase its currency to offset debts. The malaise that set in lasted for many centuries. We just don't learn from history.
@papa_pt
That clip of Trump saying he wants to balance the budget made me spit my coffee out 😂😂😂 yeah right He really says whatever he wants in the moment no matter the actual intention to ever do it
@Jeffcrocodile
Spending is out of control, because politicians quality have gone downhill all over the world. Idiocracy becomes real.
@zachbaker2051
'The Great Bond Massacre' sounds like a 007 movie were the villain steals some of James Bond's DNA and makes a bunch of 007 clones to throw at him in the final sequence that all get wrecked by the OG Bond. The Doctor gazes up at him atop the pile of his broken creations, "It's impossible, they were all you! Every one of them grown with such care, how could you possibly prevail!?" "That's where you're wrong, Doctor." The battered agent grins at him as he raises his weapon, "genes don't make the man". BANG
@PBoyle