Why The US Debt Is Now Officially A CRUSHING Issue

The US debt has been growing since the Andrew Jackson presidency which was the last and only time the US debt was completely cleared. Since then, though the debt has fluctuated up and down, the overall trend for the debt has been exponentially upwards. This is actually not that big of a problem as the economic growth within the US has also been exponentially upwards. However, recently, the national debt has surpassed the national GDP which is not something to take lightly as this indicates that the national debt is greater than the total economic goods and services produced within the US within a year. To make things worse, we are currently experiencing a pandemic which makes it difficult to not only cut spending but also hard to increase income. Thus, this deficit is likely to continue for the imminent future which is expected to balloon the debt to $46 trillion in just 4 years. This video analyzes the impact of the national debt on the US economy and what will happen as the national debt continues to grow.

Timestamps:
0:00 - The Bleak Debt Outlook
0:40 - Why The Debt Now Matters
2:02 - The History Of US Debt
3:01 - Why We Can’t Fix The Debt
3:49 - Why Taxing Billionaires Doesn’t Work
5:54 - The Doom Loop
7:01 - How Our Savings Can Be Destroyed
8:30 - Threat Of Hyperinflation
10:47 - Consequences Given Circumstances
11:43 - How To Deal With The Debt Crisis

Resources:
https://pastebin.com/aahqaiqX

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