Does Government Debt Matter Anymore? | Perspectives On Policy

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Title	:	Does Government Debt Matter Anymore? \| Perspectives On Policy
Lasting	:	5.16
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There is a portal into the Archives of the Congressional Record A Portal does exist And these are the dates in the period between 1910 and December of 1913, when the Elder Lindbergh made his historic Critique of the legislation that resulted in the Federal Reserve System - as that legislation was being fine - tuned by the Senators & Congressmen who were in the pocket of the Wall Street BankersbrbrbrLindbergh in Congress June 16, 1910brLindbergh in Congress June 13, 1911brLindbergh in Congress February 24, 1912brLindbergh in Congress February 27, 1912brLindbergh in Congress September 11, 1913brLindbergh in Congress December 22, 1913brbrbrHere is one such Portal It leads to a very important speech that the Elder Lindbergh made on the Floor of Congress on September 11, 1913 - ninety years ago brbrAt that point in Time, the US National Debt stood at roughly One Billion Dollars On that day, the Elder Lindbergh introduced a Bill in Congress which he proposed as an alternative {italics) Bill to the Federal Reserve Act It was "the path not taken"brbrHad that Bill passed the House and the Senate, the National Debt of the United States would not have grown to the astronomical Sum that it has reached today, because the Lindbergh alternative would have created Debt - free Currency, issued by a "Sub- Treasury Central Bank of Issue"brbr archiveorg/details/sim_congressional-record-proceedings-and-debates_1913_49_appendix
Comment from : Mark Evans

Get rid of the central bank and change to a gold or silver standard! Only the treasury should be able to print money, not private bankers!!
Comment from : Lewis C

Why $800+ billion for military when it’s not even wartime? It’s insane! Cut their budget by 75!!
Comment from : Lewis C

4:41 That felt personal 😂
Comment from : Shamal Shetty

I feel like the fact that this question is being asked is a sign of how fucked we are
Comment from : Jake A

This is all unnecessary, just abolish the constitution and dismantle this monster known as the us government, we have a stupidly problem, not a money problem
Comment from : The Paraclete

This aged well Now we are in a new era of high inflation and rising interest rates
Comment from : Peter Renda

I came from Kenya to watch this Tax percentages are rising every day because of our huge national debt and budget deficits
Comment from : Gordy Thungu

It allows for negotiations between the house and presidential powers Like it or not, it is a part of what limits the powers of the US treasury which is a check and a balance on it Corrupt gamblers want it to not happen but the negotiations need to happen The current group of people in charge are unethical in their practices and the only reason they are even good enough is because they value truth and reality more so than their opponents Literally the more I look at politics, the more I just want to burn it to the ground as it needs to be done every 100 years because the laws in place end up with so many loopholes it is unreal Constitutional convention anyone?
Comment from : Fortune Cookie

Yesss
Comment from : scott thomas

Debt is a unearned transfer of wealth from the Have-nots to the Haves! Its called a Fraud Scheme
Comment from : AZPro

Im here to help people stuck in the Matrix None of this matters Go about your business and concentrate on you and the ones you love Do not get sidetracked by the next engineered crisis They will always raise the debt ceiling or they will magically pay off the debt Th power of money has always been and always will be in your head Ultimately it's worthless in and of itself You need to create a huge circle of friends and work together to achieve a goal you cant do it alone Thats why the govts have us to run on the mouse wheel and create tangible goods off the backs of us Mean while they pay us worthless paper Go live people
Comment from : Omega Plumbing Services

Nah Just print the money, this is completely a non issue None of the debt needs to ever be repaid - Spend more as needed and don't worry about it Just raise the debt ceiling None of the debt will ever be a problem to the US
Comment from : Do or or do not There is no try Rex

so in common speak it a new credit card to pay monthly interest on the frst one
Comment from : Fuzz Zeballs

Interest rates are high now Great video!
Comment from : Andrew Hale

Taxing the rich is most important and leads to a ton more revenue!!!
Comment from : Average Guy

I miss you Trump 😊😊😊 , biden just old man with Alzheimer's 😂😂
Comment from : Delay NoMore

It doesn't matter to the people printing money
Comment from : Leslie Harvey

Balony After listening to him, I knew for sure he was a promoter of rightwing/conservative economic policies People need to understand that there are two kinds of dominant economists out there, progressive left leaning economists are completely different than right wing free market economists in terms of economic policy This guy is still promoting rightwing austerity, Milton Friedman policies and trickle down economics/Supply side economics brbrFirstly, a Home does not have its own currency Secondly, he mentioned Germany bailing out the US like it did for Greece, and that it’s not going to happen, Greece does not have a time currency, but the US has its own currency so he’s talking nonsense Finally printing money in Zimbabwe and Germany did not cause hyper inflation, the inflation started before they printed moneybrbrMichael Pantazis
Comment from : Powder Blue

Bahahaha We are on the verge of the debt crisis now Feds will never stop spending
Comment from : ACE ACE

This goes to show the essence of credit facility in a thriving economy Financial advice can never be overstated
Comment from : Mary Alchester

PS your grandchildren will be paying and not see the light
Comment from : LinNO

One year old and isn’t it worse, Social Security is not an entitlement, it’s a contract
Comment from : LinNO

Yes it matters because it means the average person will be paying more taxes for the rest of our lives in the future
Comment from : J S

There we go again…brbrEvery time we have a financial video, the peddlers outside the gates set their tables to hawk “ easy money “, like crypto currencies and all that garbage It’s like going to a rock concert, and there you have ticket scalpers , t-shirt sellers , dope pushers , booze sellers brbrOn the subject … unhinged spending leads to inflation Never mind the Dollar is the world’s trading currency Our world order becomes unstable , and it is going só ever more , not many outside the US will keep on enabling our lifestyle brbrTime to save, and pay attention to the world around us brbrCurrent value of Social Security and Medicare at around USD 120 trillion, plus those USD 30 trillion you often see on news Money not into the Government Accounting , therefore not following GAAP guidelines All of that money into IOUs , US Public Debt instruments brbrA record retirement wave now, all baby boomers Medicare fraud a USD 100 billion a year industry , mostly in Florida brbrThe sum of all Federal Taxes barely covers interest payments The rest is rolling the debt and increasing debt ceiling Someone out there said …brIt would take us 185 years to actually meet our obligations on tax receipts alone brbrTime to cash out and bolt Last one out, shut the lights brbrPS for some odd reason, those Roman ruins , and Pompeii , resonate more than ever Fall of the Roman Empire
Comment from : serafina costa

Pyramid scheme
Comment from : Marleyvr123 2

Nah it will all balance itself out
Comment from : Robert Tucker

this is an incredibly oversimplified on one side and greatly exaggerated on the other First there have been examples of economies running fine with debt such as Japan and there have been good examples on how to tackle debt , such as Italy A countries debt is not the same as a personal debt , especially when considering a nation such as the USA Yes , covid and the ukraine crisis have made inflation and debt increase but that does not mean its a disaster Debt is a great tool to expand an economy and it has been proven to be very successful , and for a nation like the usa its quite easy to cut spending (cut already high military spending's , foreign aid and relieve regulation) I had a project on my masters in risk and management precisely because of this so called debt crisis , although yes , debt spending is generally not optimal and not a positive indicator , i can guarantee the a nation such as the USA its probably just profiting from its great pop growth and trying to keep standard of livings stable after a crisis , just like 2008 , its highly likely this will all be over and everything turn to normal brbrPS Take what i said with a grain of salt , i am no expert i could be wrong/
Comment from : Shko Dra

Isn’t all money borrowed? I think every single dollar is borrowed from it’s country’s central bank I’m not sure this talk is framed correctly
Comment from : Dave Publiday

It doesn't matter I'm asking them to print me more money Us is king of the planet
Comment from : Ultimate Douchebag

Great lecture Yes it does matter There is no such thing as free lunch One point was not identified Printing more $ in the absence of no desire for cutting expenditures and increasing taxes (even each competing to cut more taxes) would lead to depreciation of $, further fuelling inflation, especially given the reality that at least 30 of $ is held by foreigners, mostly by China
Comment from : Bitter Truth

Just such a nice job on this video and I love the clean, slowly sliding graphics
Comment from : Doug Parks

We need ai to controle economie and gouvern it will bee equale for everyone in this world no more fraud no more elite
Comment from : Marc Portelance

money is energy savings are therefor stored energy from the past, while debts are borrowed energy from the future our debt based monetary system is exploiting the planet for that exact reason #fixthemoneyfixtheworld
Comment from : Incognitoo

What is the endgame? After crash, a new monetory system? What happens to debt? Will government pay it in different currency?
Comment from : Alpha Centauri

Very american point of view No problem that we cant fix Nothing to see here
Comment from : rod bihari

Social Security will really explode debt? Do you know something we don't??brYou are GUESSING they will borrow money for Social Security shortfall??and SELLING us your guess as fact
Comment from : john gill

Halooo this is being happening for 200 hundred years now 32 trillion dollars later you wanted to worry brThis won't stop now the government is going to get in to really bad crisis
Comment from : Robert Delgado

Please support the minimum billionaire tax
Comment from : D Snelling

It does not matter only if there is buyer to buy it Now the problem is that US debt has liquidity and high rates problems at the same time Debt celling may be raised up again, but who is going to buy it and paying what kind of rate, are the problems
Comment from : Phil Lee

Nobody ever connects this so called debt to the genuine existence of the currency wars They are one and the same
Comment from : Mike Morgan

Whatever you do, don't touch my NPR, NEA or NEH!
Comment from : Exchequer Guy

Does your debt matter?
Comment from : Charles Pierce

Yes
Comment from : Mutav

Imagine this: A Light-year is the distance light travels in one year A very great quantity, in deed! As Light streams through space at 186,000 miles per second, that means that it travels 588 trillion miles in a year Needless to say, "5,88 Trillion" is a number very difficult for anyone to even visualize Now try to imagine 30 Trillion! This is the number of Dollars the United States Government currently owes the International Banking System!
Comment from : Henrik Rolfsen

I think it’s nonsense when people try to draw similarities between the US government fiscal policy and a household budget They are not the same at all The debt is a non issue The USA could pay it off in an instant because they control the money The consequence of too much spending is not the debt it’s inflation That’s why the fed raises interest rates to curb inflation When it does so it is basically reducing the money supply which is inverse to government spending
Comment from : jonygreenberg

Here is a guy that knows nothing about federal deficits or debt
Comment from : Bruce Fisher

For US government it’s business as usual Any problem later, future generations to deal with them
Comment from : Rabuan Mantine

Continually borrowing against the future is the essence of unsustainability
Comment from : Larry Sherk

Marshall Glitter explains this very well We should worry not
Comment from : Call me ThreeOne

Low interest gone
Comment from : Francisco Laureano

why are you lying?
Comment from : Bad Dude Corn Pop

Simple solution: Change law Fed Reserve Bank determines when and how much money supply should be increased to maintain economic growth with low inflation If money supply needs to be increased, Fed Reserve Bank notifies Treasury Department to issue a special government bond that only Federal Reserve Bank can buy This special bond carries no interest and Federal Reserve Bank determines repayment schedule as needed to regulate money supply No more government interest payment on debt, so national debt decreases Major focus should be on economic growth, avoiding waste and fraud, prioritizing spending money on what is important, but not debt
Comment from : AdrienLegendre

Dude you have complete Saul Goodman vibes tbh
Comment from : Karan Kapur

It's OK The USA is now robbing Europe so its the others who pay for the us debt in the end
Comment from : onepartofone

Make churches pay their fair sharethat would help
Comment from : Brub B

What does he mean at 2:20 when he says “but taxes equal to spending for decades would be a debt hawks dream come true” idgibrbrOhhh debt hawk as in somebody worried about the debt and a possible debt crisis Not debt hawk as in foreign treasury bond purchasers Okay
Comment from : Christopher G

The power of the US federal government is delegated from the 50 self-governing states of the United States brbrAccording to Article 1, Section 10 of the US Constitution, no US government shall pay its debts in currencies other than gold and silver That is the US dollars or any kind of IOU is used for paying the national debt is a violation of the US Constitutionbrbr Article 1, Section 10 of the US Constitution: Deprives states of powerbrbr No country shall enter into any treaty, alliance or federation; grant trademarks and letters of retaliation; coin money; issue letters of credit; offer anything other than gold or silver coins as a tender for debt repayment; pass any acquirer act, post hoc law or damage contractual obligations laws, or confer any title of nobility
Comment from : Out of USAs Manipulation Free to speak

US national debt doesn’t matter
Comment from : Adam Wallace

It does buy GOLD
Comment from : Hejs Hajaha

Very well made video, making it so much easier to catch the point
Comment from : Ya-Li Hsiao

The argument the debt interest rate lower than the GDP rate increase means the debt is harmless, is not the whole story brbrThat theory only works if the debt and GDP rise at the same rate GDP has risen from $147B to $225B since 2008, 31 annually National debt has increased from $10B to $30B today, a rate of 81 per yearbrbrWon't the debt service increasing 3x GDP swamp the federal budget sooner or later?
Comment from : Happy Daze

The interest rate is lower than the rate of economic growth house of cards made up of numbers pulled from thin air
Comment from : cuzmariosaidso

Need to increase population, and they're doing that by immigrants and also allows to up prison labor
Comment from : Astrah Cat

the usa has been leasing lands for years to keep borrowing other countries' money, and facts not brainwashing lies
Comment from : pachuco

I've given this quite a bit of thought for several years I do welding I do a service for people and they pay me cash To me that's getting money without anything backing only a service that I provide I believe there is an infinite amount of money that will always be there and always be traded The world will never run out of money because they can just print it and justify it and it never affects anything I believe between European nations and and the United States nobody nobody will ever Go broke Think about this logic If you go out and you are a large mining company and you just produce gold and dig it out of the Earth you have made money out of nothing If you go on to the Earth and mine diamonds which is a hugely inflated market it made out of nothing If you get palladium you are getting something out of nothing you are inventing and creating more money The governments have to continuously keep printing money to keep up with the demand Is the so called national debt who cares It will never be paid off but the loans will never be called called because more money will just be printed by the massive global banks because they do not want to lose what they have The United States will never go broke China will never go broke Germany will never go broke Japan supposedly is So far in the debt it's in deficit completely but yet it never goes broke Whatever happened with Greece and it's austerity it's not broke there are still an economy people are still getting their money Bitcoin is the greatest example of money out of nothing out of nothing but yet it is worth a lot because people say it is just like NFt's All of the crypto currencies have a monetary value but they are backed by nothing not even a government Real estate why is it worth so much money every year every decade every century It's demand Oil and gas made from nothing brought out of the ground and created money out of nothing Please think long and hard about this I do not believe this is a stupid question There is no such thing as the United States running out of money it will never happen Think about all of the different denominations of currency from every country everyone says that their money is worth this amount why Because their government says so Most everything is based upon the dollar because we have the largest economy in the world China and Russia Are no different People I truly believe there there is no such thing as a debt crisis we just keep raising the ceiling and inventing more money and the banks keep saying OK Why because they have endless amounts of money they control the world and the money and never wanted to fail Maybe I am talking out of my butt I don't know Is explain bitcoin explain gold explain silver explain copper Is explain ridiculous diamondsExplain art that goes for millions of dollars Collectible cars that keep going up in value
Comment from : Truth is Hard

u cannot be in debt in a currency of which you are the issuer the federal reserve simply changes digital numbers on a computer screen to pay our bills
Comment from : Skip Bo

There is NO WAY the economy outgrows the debt
Comment from : Secretly a Celebrity

Why are citizens responsible for the governments debt? We already pay taxes, shouldn't the rich politicians be responsible for the decisions they make?
Comment from : Andrew Allen

This should be compulsory watching for all politicians before taking office Instead fiscal morons are given the reins
Comment from : v&v walker

The majority of voters will only elect politicians that promise free stuff, so don't expect a fixbr Prepare smartly and get out of the dollars
Comment from : Darren

Not political, but before and during Obama, during Trump and into Biden, they have been shouting that the economy is so good But it is only because they are paying (virtually) nothing toward the debt If we were paying off debt, instead of growing it, economy would look sickly It is like a household saying that its finances are great, but it is because they are putting tons of payments on credit cards Government debt is different, yes, but it cannot be ignored forever, when currently around 30 TRILLION dollars Most people cannot comprehend a billion, much less a trillion
Comment from : JustKeith

Government debt matter? Not to pirates in DC!
Comment from : blake brown

The graph at 1:49 shows projections of the future deficit to revenue ratio, what/whose research is this based on?
Comment from : Q

All of those policy reforms/improvements make sense Guess how many will actually get done without our current leadership?
Comment from : casienwhey

Professor Stephanie kelton says that the US can just print the money The government deficit is a national blessing because the spending creates jobs and income for the people in the government favored industries The government can control the money supply by taxing the accumulators and taking back money and/or moving it to people and industries favored by the government The government can also make competitive currencies like crypto illegal or very painful to use The government can enforce you pay taxes in the national currency and enforce a dollarization of competitive currency like crypto by adding a sin tax to those transactions Every time you go Crypto-to-Dollars, lose 5 and when you go Dollars-to-Crypto, lose another 5 Also, money printing means that no savings or tax policy resistance can prevent government priorities, they don't need to pass an unpopular tax bill to, for example, forgive student debt Just print the money and take billions and billions away from savers via inflation The government does not need to curtail the growth of health care entitlements, they can just print the money So long as there are nurses and doctors, that need to eat, they need dollars to live and they will take the printed money as payment Inflation is a great control mechanism for government, it will even bend the will of free markets to favor government priorities Also, if another country refuses to play ball with the dollar, they can be blocked out of the world economy with sanctions and the big army that the government can keep Also, the government can allocate printed money to Universal Income so people can receive subsistence money, subsistence shelter, and subsistence happiness via government issued smart phones and other tech tools So, this dude is totally wrong If you just accept that you are a farm animal and government overlords are your benevolent keepers, inflation forever is an ok deal
Comment from : jgv1

QE it’s a complete Ponzi Scheme, have a look at the average house price to gold ratio in your state/country
Comment from : SilverUFO

It is a Question of Distribution of a Wealthy Democracies Money, Right now it goes to the Wealthy in Tax Cuts, Bailouts, Stock Buy Backs on No Interest Loans and War, to make them More Money dropping Bombs If the Money were actually invested in the Middle Working Class in would greatly expand "The Economy" This guy is a Neo Con or Neo Lib moron
Comment from : Bargdaffy 153

There is no such thing as National Debt in a fiat based currency economy, especially when petrodollars are the global standard currency The Fed can and does print money at will and lend it out at Zero pct interest The National Debt is a myth told to the populace to make them believe they live in a world of constant scarcity Additionally that which is called the National Debt is merely one side of a Ledger, the other side is the US Economy, and any Debit on the National Debt side is a Credit on the US Economy side
Comment from : Bargdaffy 153

When a Fiat Currency Government invests its Own Currency into its Own Economy, the same Economy that Creates the Value of said Currency, how is that Spending That is like a household putting Money in the Bank and calling that Spending There is no such thing as a National Debt
Comment from : Bargdaffy 153

The "National Debt" is just "Excess Currency in the Economy" that has not been Taxed out Want it Back Do a Bond Sale, Or Tax the Rich, they are the ones who have it! The Money doesn't disappear Folks, it is the the Same economy that Creates the Value of the Dollar
Comment from : Bargdaffy 153

Fazendagagua
Comment from : helio terin

Debt not a problem as long as u keep waging wars force countries accept your toilet papers
Comment from : Mu Mu

Sick "politics" As soon as I see somthing come back to this Country, I'll start believing the numbers Bush JR Said it best when he was impressed by the question called on but that was swept under the rug
Comment from : jim dean

Failing to mention how the post WW2 debt crisis was fixed, I just googled it, by huge taxes, is kinda weird
Comment from : Madger Bole

Eventually interest rate payment will be more than annual GDP of entire states
Comment from : Ironicalballs

The problem with economists supporting the US government debt as good is that they have learn only Economics not history brThey think of only a century or so but history has taught us that debt is not good brDebt has led to the collapse of empires
Comment from : Armandeep Singh

It’s not solely tax payers that have to pay It’s paid for more so via inflation
Comment from : Bish Bash Bosh

When it comes to economic policy we're in a weird fairy tale world where a solid consensus, cheered on by dozens of economic Nobel Prize winners, just knows that the Emperor's clothes are just beautiful Taxes matter only as a tool to punish the rich and the government can spend without limit, without worry, and without consequence Thanks Professor Cochrane for a clearer-eyed view of the Emperor's scanty attire
Comment from : nick ronalds

Debt only matters to republicans when a democrat is in office Maybe we shouldn’t have spent trillions on the war on terror and tax cuts for billionaires
Comment from : thepowerbill1

I feel like the Detroit Lions will win three super bowls in a row before the US does the policy solutions prescribed in the video
Comment from : dragonore2009