US National Debt, Part 2: Accumulation

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BAKU – America’s national debt is the largest binding obligation of the federal government. At an outstanding sum of 21,4 trillion USD, it’s also the largest sovereign debt in the world and greater than what the country produces in a whole year. No single event facilitated this amount, and even though debt has been a part of American history since its foundation, nearly the entire net sum was only accumulated in the last three decades.

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Toyo Masauce says:

Its fine, we will be $100 trillion in surplus once the revolution takes place and we take back the wealth from the top 0.001% richest people in the US.

Ole Olson says:

Reminder: Donald Trump has DOUBLED the US deficit despite his campaign promise and a good macro-economy when we should be paying off the debt. Tax giveaways to his fellow billionaires are only tax deferments.

Matt Scott says:

Atleast we know which partisan party you support . No mention of the giant health care act and cost , no mention of the dot-com run that gave the golden years in the 90's and all its corruption and last and most importantly no mention of how the United states do not pay their minimum interest payment each year on their massive debt!!!!!!! Wished you stayed unbiased and objective but all good things must come to an end and all independent people eventually become controlled.

Me Too says:

It's amazing how they can just go on kicking the proverbial can down the road.

David Royle says:

You forgot to mention the Community Reinvestment Act of 1977 which has widely been cited as a cause for the GFC, but a great video!

billy kobilca says:

Obviously cutting taxes and increasing huge loopholes does not work.
Until people realize on mass that our species is going to continue to exploid the weak minded and prey on fears the robbery with devaluation on money will continue. When Nixon took us off the gold standard all this began deficit monetary accounting occurred. Fall of empire is happening here…, final years of usa.

Daniel Paprocki says:

Maybe Trump will get rid of the debt by default. I've heard that He's know of this ?

??? says:

Ponzi Scheme.

natetheeman says:

The U.S. economy is very dynamic, diverse and flexible. It doesn't rely on any one industry. It creates valuable commodities, services and products through creativity and efficient development. It also has great appreciation for human nature. It isn't perfect and it can look embarrassingly inefficient at times. All things considered I'll bet on the U.S. because if nothing else people want things, more everything. We're never satisfied.

??? says:

I expect the next video to have much more dislikes.

long-time listener , first-time caller says:

the juuwes wont ever be blamed for nuthin

Sam Stewart says:

Banks were told by the fed. gov to extend credit.

Sam Stewart says:

Stop! @4.20 You are WRONG! Bill Clinton is loved because of what he did to legitimize the blowjob.

Sam Stewart says:

Do you have a computer model showing what will happen when we default?

12vscience says:

I'm a little disappointed Shirvan didn't mention Clinton balanced the budget by borrowing from social security.

Cédric25 Ryan says:

Excellent video keep up the good work?

WarmPotato says:

Whoah whoah whoah. There are more inaccuracies in this video than I care to deal with. Safe to say this channel has a bias against republican administrations. Saying that Bush taking office was the cause for hardship – as though the war on Terror would have been avoided under Clinton – what a joke!

I don't know who's writing your scripts, but they need to check their bias.

A. Steven Stelmach-Bondar says:

Bill Clinton is a rapist.

Christopher O'Neil says:

So, basically.. Republicans ruin EVERYTHING.

s21972012145525 says:

I consider myself fairly educated in financial terms and politics, but this video makes me lose interest and often goes over my head. Just goes to show economics is boring to most and honestly overwhelming. I don’t consider the complexities of it to be a science at all…rather a speculative subject, especially considering the us economy. People, take care of your own finances, spend only what you can afford and only borrow when working towards an asset that will help you long term (education, etc). No one is going to bail you out like how the us government got a pass in 2008…not family, friends, and certainly not the government!

hunter81ism says:

@CaspianReport ; Thx for this most comprehensive overview of American fiscal mismanagement. You did miss one important issue. Bill Clintons repeal of the Glass Steagall Act of 1933 in 1997, which created the conditions for the rampant speculation of the new millennium . you might want to rectify that in this video. GO MGTOW MGTOW 4LIFE

Recovering_Californian says:

Republicans will cut taxes AND spend more than the government takes in. That's bad. Democrats will raise taxes AND spend more than the government takes in. That's bad too. Both parties suck ass.

Igor Zhuravlyov says:

You should know that the phrase that the stimulus packages didn't cost taxpayers anything is false. Yes it was paid back, but below the rate of inflation, thus we lost money on it. Plus, it doesn't take in to account the fact that the money could have been used to generate much more income, aka the opportunity cost of money. Just saying, that's a surface-level misleading statement.

Nickle says:

Social security is a binding obligation and that is 230 trillion.

Why is it binding? Well just like the borrowing, the US government has to change the law to get out of paying.

Nickle says:

Social security is a binding obligation and that is 230 trillion.

Why is it binding? Well just like the borrowing, the US government has to change the law to get out of paying.

outbacktrek says:

liarliar mafiaReagun….worstActor, worstGovernor, worstPresident
ever until unelectedScotus picked bushWacker then gopElectoralCollege selected liarLiar gop mafiaDon …. clinton&obomba were corporateRepublicans in short no progress in USA since nixon's impeachment (Y)

Miguel says:

Higher MANDATORY spending for Obamacare, I’m Sschrikvvan and this has been a Democrat report.

Spydah110 says:

Sad that there was no mention of the Federal Reserve.

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