Are you ready for a Nerdy Valentines Day? http://bit.ly/WekHqK In which John discusses the US national debt, the federal budget deficit, plans for shrinking …
44 thoughts on “Understanding the National Debt and Budget Deficit”
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sure is right, nobody can believe about this quickly. Listen, i get sent a list of high paying surveys every few days and easy make around $60 off each list. if you wanna try just try now: bit.ly\10V8mMr
Youre right in that the gold standard would not work under the current economy.Our government spends too much,taxes too much,and regulates too much.You can argue that some regulation and government intervention is necessary but it has gone too far.You need to eliminate about 90% or more of the entitlement system,at least 70% of the defense budget,decrease the number of agencies employing so many people,and end other misc. programs.then gold would work;it has a stabl valu that doesnt change often
The lessons not learned by the Roman government can be learned by us today and applied before we suffer the same sort of economic collapse.Rome went beyond the limits of its economy and tried to spend money it didnt have.when people lost their faith in the legitimacy of the Roman government to lead and govern the facade came down and the empire along with it.the same will happen to us today.rome tried to escape its economic issues by eliminating gold and creating fiat money and it didnt work.
I totally agree with you. I imagine you follow the Austrian school of thought and were probably a Ron Paul supporter. Having said that though, I am wondering if you are right about having a surplus. If the government can do what ever it wants because its ability to borrow is endless, wouldn’t it have the same power if it was allowed to have a surplus? i think at the end of the fiscal year and y surplus should be refunded to teh people and the balance brought to zero in their treasury.
You seem knowledgeable on this issue so I’m looking forward to you replying to my comments lol.I hope you dont support the Fed though.passing the Federal reserve act was just the begining. they wanted us to eventually be off the gold standard so the international bankers in charge of teh fed and other central banks could complete their economic take over,which was creating debt/deficit system where basically every government in the world owes them a debt,leading to near complete world control.
Hmm. . . Well first of all the gold standard wouldn’t work even if the cuts you suggested were to occur. Also, I disagree with the notion that we just need blank percentage cuts (especially not something so drastic 70% or 90% cuts). I think that a more viable solution would be to look at all programs and making changes based on efficiency, especially programs like Medicare and Social Security need overhauls to remain viable. I’ll stop here since I have gaps in knowledge over the Fed and Romans.
We don’t borrow money to make capital investments though, we borrow money just to pay operating costs.
A Business who does that is flirting Chapter 11, if not 7. And generally, no, businesses are not seeking to put themselves underwater, so the idea “businesses live within their means” is very much correct. A business that doesn’t won’t be around for very long.
Id rather have deflation than inflation. Ill take the gold standard over keynsians any day.
And when people like Ron Paul talk about a “Gold Standard” they talk about using gold and silver as legal tender instead of dollars. There is no “price setting” people pay what they are willing to pay. Gold was being exchanged back in the great depression instead of dollars, so FDR robbed the country. Fuck the US government.
FDR didn’t rob the country, he was simply the president in the aftermath of the Great Depression. Hoover was the president when it actually happened.The Great Depression in the U.S. was caused by over-speculation and a lack of bank regulation. People were taking out loans that they couldn’t pay back when the stock market crashed. Then, banks basically ran out of money and couldn’t give people their savings back. Do your research and post negative comments elsewhere.
Also,the fact that “people pay what they’re willing to pay” makes the gold standard less than a monetary value than the dollar already is.The more gold that’s in distribution, the less valuable it becomes.That’s why diamonds are so expensive right now.One major mining company controls their influx to jewelers.The government controls the amount of money placed into the economy right now.Even though we’re in a recession, we’ve never reverted to an era with conditions like the Great Depression.
Umm yes he did. Exec Order 6102. The order criminalized the possession of monetary gold by any individual, partnership, association or corporation. Go do your fucking reasearch asswipe before you come comment.
LOL …. we owe the money to ourselves …. how many treasury bonds do you own??
No…the money is owed to rich people.
It’s true that we owe money to ourselves/the government. But let’s take it one step further. Where is the U.S. government getting the majority of it’s money from? You know, the money it uses for it’s programs, lends to students, pays other countries, ect? That comes from the Federal Reserve, a privately owned bank that is NOT a part of our government. The Fed also charges the government and smaller banks interest on the money it prints. Thus, causing inflation and a never ending increase in debt
You know, for a second there, I felt sorry for you. I can only assume that in the midst of your self righteousness, you still lack the means to express your thoughts other than through the use of vulgar curse words, especially on a vlogbrothers video.I would hate to ever have you as a teacher or even get to know you by this point, because you seem like an anonymous coward.I still stand by my comments, even if I made a mistake in my research.The gold standard would be pointless in modern times.
Well you dont know me at all, but your going to come at me saying im ignorant and to “do my research” when i know what im talking about. In no way am I coward im an asshole in real life too, blame my environment. And the rescession wasnt going to be as bad as the 1930’s anyway, and its also too soon to say its over, the can is just getting kicked down the road
‘Merica!
I like when things are explained to me in back to the future
Ok John Green I want you to answer this because you were mildly flip flopping throughout the video. You claim deficits are ok yet right after that you said your solution would be to find a way to balance the budget and then create a surplus…my question is, where do you stand? lol. I sure know that if I were running the show, I’d aim at maintaining a balanced budget at worst. I would do all I can to avoid deficits and try my best to create surpluses.
yes i mean it, nobody can believe about this quickly. the thing is, i really got shocked when i got paid a check of $300 for reading emails and doing surveys. lol. its worth a try here: bit.ly\14a58Wa
you are correct, i know alot of people who think it is fake. Listen, really lucky that i registered and earning more than $40 daily from this web site :). its worth a try here: bit.ly\ZbBHe8
JOHN GREEN FOR PRESIDENT
We actually have a $222 trillion debt if you count unfunded liabilities such as social security and medicare payments as corporations are required to do.
I think it was pretty clear that he was advocating running a surplus during good economic times (for example pretty much the entirety of the 90s). And when times are bad, we should maybe not create a huge crisis/freakout when we run a bit of a defecit.
First of all, thank you for explaining the difference between Debt and Deficit, it amazes me how many people don’t understand how they differ.
Secondly, lets get on that hoverboard. We only have 2 years people.
Haha oh god. You actually think Keynesian spending works? Oh god, let me go break some windows, that will jump start the economy. How about I print some fake money? That’ll work. Worked really well for Socialist Germany didn’t it? At least everyone will have firewood/paper if they can bundle worthless money together. The fact is, there is OVERWHELMING data proving that the market works better. The fact that you’ve been lied to successfully by the media is humorous. Come back when you have facts.
In short, any country that succeeds does so by free market principles. Socialist systems work for a while, but only while on the fumes of capitalism. Keynesianism DOES NOT WORK, and there are volumes about why.
germany was not, by any time, socialist. you are refering to the Vaimar republic which was controlled by the traditional right wing (the part of the german right wing who wasn’t the radical right wing like the nazis, a part of the right wing who was capitalist butnot racist)
Yes. It does. Anyone who tells you differently is lying to you. Keynesian economics has remarkable predicative capabilities. And I love your completely ridiculous notion of what Keynesian economics is, which just proves what I said about you being lied to.
And no, the market is complete crap and always will be complete crap, filled with deflations and combustions and constantly needing correction, anyone who understands that fact understands how economics works.
In short, you are absolutely wrong, about everything, and we have something like sixty years of economic data proving that fact.
John Green for president!!!
You didn’t know me at all, and yet you called me an asswipe. No matter how you bully or insult people, it’s still a cowardly act. No, actually, I won’t blame your environment. I blame you.There’s a certain point where you have to start being an adult and realize that what you do is not dictated by your environment or what your parents did to you, but by who you choose to be. So you chose to call me an asswipe, and I don’t accept your excuse for that. Goodbye.
We have 60 years of data showing just the opposite. We can fill markets up with regulations, taxes, and all sorts of subsidies… and they will survive, for a time. But slowly, the eventually all decay. That’s exactly what’s going to happen to sweden, and is happening to every socialistic economy in the world. The successful economies are the capitalistic ones, like Hong Kong, etc. Do some research. Socialism does not work, and until you wish to remove your head from the sand, I think we’re done
No we don’t. And just because you choose to lie about it, does not make you any less wrong. You can claim they are going to “decay” but all actual evidence shows you hopelessly wrong. Socialism works fantastically, as has been proven all over the planet, including by the United States. The fact that you choose to lie about it is all we need to know. Hence why you are running away from this discussion crying.
Revolution: the only problems in the world today are manmade, made–up rules, so let’s change them. Watch “ManKINDer” on youtube for a simple rule tweak on inheritance that changes the purpose of modern human existence!
Can we get there fairly? What’s realistic. Aren’t we stuck? Maybe not. Watch “ManKINDer” on youtube!
“The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed, lest Rome become bankrupt. People must again learn to work instead of living on public assistance.” Cicero, 55BC
This sounds exactly like the USA and most of Europe now. Let’s learn from Rome and avoid her fate.
“What a wonderful fake quote you have there. Check your facts before you quote, lest your argument become logically bankrupt.”–Me, 2013
If that quote was made up, it was made up long before I ever saw it.
I don’t really blame you for your confusion, quotes found via the internet are often either false or taken out of context. Generally what I do (indeed exactly what I did when I saw your quote) is take the quote and put it into the Google search-bar, generally you’ll either confirm its validity or find sources exposing its false origins.
It’s a good thing I chanced at this video, quite interesting.
“the debt is not harmful to the u.s” (poorly quoting here)
Thank God! I was so worried and now, I like, don’t have to care anymore.
Yay!
Click “Show the comment” to follow the conversation of two nerdfighters who, forgetting to be awesome, resort to petty insults and overall immaturity in an attempt to prove themselves correct.
haha no need to apologize for longer videos. I could’ve watched an hour of this.
“Not to brag or anything but” … in other words had no life when u were in highschool