America’s Looming Debt Spiral

The cost of servicing US debt has surged. With solutions to the problem seemingly trapped in political gridlock, kicking the can down the road has been the norm. But at some point, failure to tackle the US’s large and growing budget deficit is going to hit the wallets of ordinary Americans.
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[@tonysilke]

The U.S. economy relies on ongoing credit and debt generation for sustenance. The Federal Reserve is expected to increase the money supply, leading to further debt accumulation for the average American. Meanwhile, foreign nations continue to desire the U.S. dollar, despite their own economies facing significant challenges, some even worse than that of the U.S. This situation raises concerns about who will ultimately bear the consequences of these economic dynamics.

[@PatrickLloyd-]

They do say gold will crash in a liquidity crunch However, many of those holding precious metals are preparing for such an event. So they are unlikely to be forced sellers. The paper market would tank and hopefully collapse.

[@PhilipDunk]

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[@PhilipDunk]

Her name is “Vivian Carol Gioia” can't divulge much. Most likely, the internet should have her basic info, you can research if you like

[@Nernst96]

I searched for her name on the internet, found her page, and reached out via email to schedule a conversation. Thank you.

[@yolandabyers3543]

$1.8 billion spent per day to service U.S. debt. Smh! Worst payday loan ever! 😮

[@Chickenlegs808]

I watched as the debt increased by $275 billion in 1 day only a couple of days ago. The amount of Gov waste is terrifying.

[@AndreasChristianto]

today the debt number is already $33.5 trillion..

[@kosakata8632]

I think that money for Ukraine Americans sacrifice their people for others, how cute or might be dumb XD

[@Kingofthehill84]

I thought they said debt increased by $20b daily is about $7,300,0000,000,000 annually plus interest rates 😅😂 The US government's liabilities breached an eye-watering $33 trillion on September 18 - a month later, the figure had jumped $33.64 trillion, implying an average daily increase of $20 billion.

[@Chickenlegs808]

@@Kingofthehill84 it usually is around 20 billion but there’s days where the debt jumps by 100-200+ billion. Its happened 2 times in October already. Last major increase was last week, right after they announced 100 billion in aid for Ukraine, Israel and Taiwan. The Debt increased a little over 100 billion from 33.5 - 33.6 trillion in less than 48 hours and Congress hadn’t even voted on the aid.

[@ajamessssss]

US isn't helping Ukraine enough. That's the truth. Fact is, US isn't sending money to Ukraine.

[@business]

Get unlimited access to Bloomberg.com for $1.99/month for the first 3 months: www.bloomberg.com/subscriptions?in_source=KZbinOriginals

[@impleasen]

Its $13,000,000,000 billion dollar aircraft carriers $2,000,000 million dollar missle to shoot down 1000 dollar drones. Being a big bully is really expensive

[@hansudowolfrahm4856]

1 month later it's at 33.7 trillion in debt 😐

[@tobiwan001]

Teh deficit is now at 1.7tn, but at low interest rates. If the US had to refinance at current rates it would increase by another 1tn alone. So the longer interest rates remain that high, the more the deficit will explode increasing borrowing even further making a debt crisis even more likely. But if interest rates are lowered and inflation is not kept in control, interest rates on US debt will spiral out of control. The US has put itself into a corner.

[@nicolasbenson009]

The US economy cannot survive without continuous credit and debt creation. The FED will print more money and the average American will go just that much further in debt. Meanwhile, foreigners lust for the greenback. Their economies are in worse condition than the US... if that's even possible. Someone is going to be left holding the bag...

[@DKBZA]

Yes, but the economies of other countries also mean more debt for the country that issues the dollar, the country that issues the dollar is about to implode due to so much debt that they issue to the entire planet.

[@DimensionalGaming4]

Medical = debt. Housing = debt. Car = debt. School = debt. Taxes - on everything. Even tried taxing you for breathing. Eliminated horseback trails and travel by putting fences everywhere.

[@teessideman.8253]

Illegal immigrant tax. Someone has to pay there medical bills. Housing food clothes & pocket money.

[@PhonkEcho]

The only reason US spends so uncontrollably is because its value is derived from being the reserve currency across the world. If that changes, the US economy will collapse

[@lissaleggs4136]

Traitor Don trump and Republican traitors is the reason, don't deflect..

[@Houthiandtheblowfish]

Thé world pays protection money to empire to expand standards of livings of ceasors and elites

[@bg2junge]

Lol like japan(they have a different debt structure), being the Standard reserve has some advantages, but not that many.

[@jebbo-c1l]

while true the US can also afford to spend because it is incredibly wealthy and productive

[@siarnaqfrost4968]

@@jebbo-c1l Looking at their homelessness and healthcare, I certainly don't see it as "wealthy" per se. With all those trillions of spendings, they can't afford universal healthcare and subsidized housing. Wealthy for the one percenters tho.

[@polyverse1]

For years we had the ability to export death to other countries because our currency was the global reserve currency. That’s why our exchange rate in foreign currencies nexts is higher purchasing power, but now that more than half the countries on the planet are dedollarizing and not buying or dumping our bonds inflation is rising because those dollars are coming back to our shores.

[@janetlucas-eb9pk]

Inflation hits people a lot harder more than a crashing stock or housing market as it directly affects people's cost of living that people immediately feel the impact of It's not surprising that the negative market sentiment is so high now We really need help to survive in this Economics.

[@GregGeorge189]

I've worked wlth 4 traders in the past but none of them ls as efflcient as Celina reaghee, her trading strategy is amazing.

[@JohnSmith-kr6ek]

Sept 18 2023 the US hit $33 trillion in debt. As of Oct 9 2023 the US debt is at 33,480,000,000,000 rename US to Zimbabwe.

[@Mattius08]

Everyone get ready. This is going to impact everyday people. Learn some skills. Next 3 years are going to be brutal.

[@moderatelyapathetic3280]

I can’t tell you how many times I’ve seen people claim “the National debt doesn’t matter”. Some people willingly choose to not live in reality

[@samiurkhan]

The US has increased its productivity over time to match the debt. Any institution will grow by either taking on debt or selling shares of itself. The US governments can't do the latter so it does the former. It then uses that debt to fuel its growth. For the US that has very much paid back in the form of defense spending leading to ARPAnet, biological research, which developed the entire tech industry (valued at roughly 5 trillion) and the ability to rapidly develop vaccines against COVID. Additionally, the US has not defaulted on debt. E.g. if I take a loan of $10 in 1990 and then another loan of $11 in 1991 and I still pay back the debt from 1990, future lenders will see my history of payment and offer $12 loans in 1992. As long as I remain productive and don't diminish my ability to make money, I will be okay. If you can provide a credible reason why the US might default on debts, let me know. You can also make a philosophical case that we should not be using debt to fuel growth but both bootstrapping with profits and debt fueled growth have shown to be well trodded paths towards profitability.

[@esphilee]

No problem, just print more.

[@Wondering912]

@esphilee that causes inflation

[@lisalovespandas1]

They are always increasing taxes because inflating a currency causes inflation or as the Nobel Laureate, Milton Friedman, suggested in a speech amidst the period of rising prices in the 1980s, inflation can be thought of as a hidden tax for rampant government action.

[@antifoxist]

US debt declined from the end of WWII until 1981 from 110% of GDP to 30% of GDP. Since Reagan's innaguration in 1981 until now the debt has exploded back to 110% of GDP. Between 80 and 90 percent of that explosion in debt occurred under RepugliKKKlan administrations.

[@terrymoore861]

How does USA borrow money that does not exist. Wish I could do this!

[@danhtran6401]

Sure it does...US has 100+ trillions in assets plus oil....l😂

[@ThijsSchrijnemakers]

thanks

[@MultiWolfxxx]

We cannot have a situation in the world where one country keeps consuming more than they produce. Once debt has all rolled over to around the 5% level, the US will have to grow at over 5% just to service their debt and not grow at all net, ie they'll need to grow over 5% to grow 0%. That's a very tall order, some would say impossible.

[@michaelnurse9089]

Unless they never pay it back. Which seems to be the plan.

[@siarnaqfrost4968]

@@michaelnurse9089 Or just print dollars to the infinity. As long as the world believes the greenback is stable, there's no problem. Unless USA proves it otherwise or some other nations started trading without the dollar included.

[@yougetaspear7799]

Thats the deliberate nightmare endured on black amerikkka...they must be permanent consumers but denied the opportunity to be producers

[@antihypocrisy8978]

​@@michaelnurse9089Japan is smart enough to keep lending. Just like it was smart to sign the Plaza Accord.

[@ajx9747]

@@siarnaqfrost4968 inflation would jump due to increased money supply . It's better to default than to print money

[@rightwingsafetysquad9872]

Almost by definition, all governments with sovereign currency have to run a deficit. Money doesn't go to the government from the private sector, money comes from the government. The limit on government spending is not tax receipts (not directly), it is inflation. To this end, it is not the total debt that matters, but the interest rate on that debt and the rate of new deficits being added. The U.S. can get away with a lot more deficits than other countries because we have the reserve currency, but that difference is in magnitude only, not in kind. For decades the budget hawks have been wrong. Most are still making the wrong arguments. Unfortunately the conclusion that too many have drawn, that deficits don't matter, is also wrong. Rising interest rates coinciding with exploding deficits are revealing the calamity we're in. Once upon a time, Paul Krugman wasn't an idiot and wrote an excellent piece about how sovereign debt over 120% of GDP makes interest rates impotent as a tool to control inflation. Our economy is not healthy. Economists all expected a recession last year, but we didn't get one because of $2 Trillion of quiet stimulus, mostly from the "Inflation Reduction Act". There are trillions more in state and municipal accounts to be spend in the next 2 years. This is all debt financed at around 4.5%. This culminates in the interest paid on the debt rising faster than tax receipts, which means that the debt must be paid by devaluing the currency. Japan is the only country to have ever done this semi-successfully.

[@lephtovermeet]

Thank you. I think a lot of the oligarchs if not most know this, this is just another method of control. But it's always shocking how many people, even elected officials, seem to legitimately not understand that.

[@Vroomfondle1066]

Get that Magic Money Tree going again!

[@hkmorhsi]

Bravo, very well put

[@coldflu]

Would take over 12 million years if $1/minute went towards the principal.

[@twenty3_co_uk]

"worried, is going too.". Years of the magic fix of zero rates coming to haunt us. Magic money tree has cancer.

[@brunobarbarioli8725]

quite shallow video. saleha mohsin incorrectly used debt and deficit interchangeably when talking about financing. Bloomberg is usually better at this.

[@alphaTrader.oo1]

from Egypt to Rome to Britain Debt is the main reason

[@michaelmcbride2045]

I'd buy all the debt if I could. If the Feds give me a 0% interest rate, I'll buy it all. Then let me borrow 31.4 trillion against it to buy stocks or countries. It's only scary if you are super rich.

[@eskay2012]

Everytime I hear of the massive US debt, I cringe to imagine of how much more weapons / military equipments that is needed to churn out to the world. US is like the death reaper looming in this world.

[@matwinner9708]

Canada: hold my Molson

[@mike9132]

The real problem is the US government is now using debt to finance every day expenses. It used to be only for emergencies. Sure they'll say its an emergency, like "climate change", but in reality there is no emergency and yet they are still borrowing trillions. Some of which is used to pay interest. When you are borrowing to pay interest you know its not going to end well.

[@MrWeeblesnuff]

Sorry, what debt spending is going towards "climate change"? Also, the scientific consensus globally is that "climate change" is both real, and an emergency. An expensive emergency. Go ask Florida in 10 years.

[@hailhumanity]

Great example: Pakistan??

[@JohnSmith-kr6ek]

Sept 18 2023 the US hit $33 trillion in debt. As of Oct 9 2023 the US debt is at 33,480,000,000,000. Zimbabwe here we come .

[@rona4960]

what does 33t have to do with it? Is that the magic number? What about 32T? Or 29T or 3T?

[@minhoonoon9443]

Its not US problem, its the bondholders' problem.

[@heinedenmark]

Which primarily are US finans institutions 🤷

[@benhutchinson9054]

Say that to the numerous failed fiat currencies where the government abandoned fiscal responsibility and started printing the debt away.

[@serafinacosta7118]

Well put , grasshopper. Please do not share your wisdom to bondholders , won’t you ?

[@ShamileII]

I wonder what a man thought....oh wait, there weren't any! 🤣

[@user-ci7we9of6p]

the western coalition said soviet was poor and at the time they said that they were printing money out of thin air and handing it out

[@Neo_indian1]

DOUBLE IT AND GIVE IT TO OTHER PERSON 😂

[@AlvinYap510]

It's already 34.7 Trillion. Jokes on you

[@simonyu4111]

never intend to pay....

[@mister_unknow]

Today Nov 10 2023 the US debt is at 33,714 trillion 🎉🎉😂😂

[@rosgoncharuk2403]

Every nation has a government it deserves. Always. All the way up untill nation cease to exist.

[@N8tiveBaller22]

And they have the audacity to give me a credit score

[@neonnoir9692]

We have to cut all entitlement programs except for the elderly and physically disabled. There's no other choice.

[@krishnaSagar69]

It's about time

[@typingcat]

Oh, come on, Edna. We both know these children have no future!

[@user-bk3gj1he3o]

Background sound is too loud!

[@stevencampbell365]

PRINT MORE MONEY😅😅😂😂

[@rogerc7960]

That's just the interest!

[@Adityasomani555]

$600 billion since this video went live 😂😂😂😂😂😂😂

[@WarriorVinyard]

and probably $50 billion plus since your comment

[@RGFX32]

its more than now hahaha

[@jigsaw2281]

Dedollarisation is coming .. British Americans time has come...

[@r3dp1ll]

indeed. And many central banks around the world are buying vast quantities of gold.

[@Mia-sp5wh]

This is bad

[@rogermas6087]

Pay more tax. 😂😂

[@serena-yu]

Interestingly, Australia has just got a surplus of A$22.1 billion (0.9% GDP) in this FY budget. Government Net Debt is 22.3% GDP. On top of that, Australians live longer than Americans, are healthier and see their doctors more. Where did the US government throw so much of its money into?

[@aryanhassan4659]

Overthrowing government in middle east and other non friendly country

[@scottpetty4568]

The public finances of Spain and Ireland looked great at the peak of their housing bubbles too. They were both in debt crises within 3 years of the bust. Australia is a huge, largely empty country with a modestly sized population and the most unaffordable residential real estate in the world. It is breathtaking to behold. The median house in Sydney cost 13-14 times the median household income. Hong Kong (a special political/economic zone on a island next to China) is the only city in the world comparable to Sydney and Melbourne. The crash will be spectacular.

[@AKAAAK]

Throwing in the toilet on the interest payment alone.....

[@louisec9858]

their pocket.

[@benhutchinson9054]

​@@scottpetty4568 the government is scrambling to prevent that by letting in immigrants left right and centre since their (politicians) wealth is largely stored in real-estate

[@francisltx]

guess who they gonna blame? lol

[@claudiopistorijunior5089]

R.I.P USA.

[@charlesalexander4339]

America 🇺🇸 is in trouble

[@eagleeye8048]

This National Debt Clock should be installed inside the Congress, Senate and The White House.

[@judyl.7811]

0:25 almost exclusively in the form of bonds 0:30 just shy of 3 trillion 不到...; it's north of 超過 0:45 the confluence of the factors would send US into a debt spiral 1:00 living beyond our means 入不敷出 1:15 US treasury department spends $1.8 billion per day to pay existing debt. 1:40 finance the deficit. 2:00 deficit spending. that's when the current trajectory really grabbed a hold of the country. 2:20 Debt-to-GDP ratio 2:25 gauge the fiscal health of a nation. stayed flat. 3:00 as the Fed had to pivot 隨……轉移；依……而定 to combat inflation. 3:10 avoid hard decision to balance the budget. kick the can down the road: put off confronting a difficult issue or making an important decision, typically on a continuing basis. 4:20 agree on spending cuts. 4:55 use the public purse to stave off catastrophe. 5:35 poor fiscal management.

[@mxweng]

Should never use national debt to GDP ratio. GDP does not pay debt; should use tax revenue to national debt ratio. For example, if Apple or Tesla relocated to Canada or somewhere else, GDP and tax revenue will both decrease but national debt remains the same.

[@serafinacosta7118]

The sum of Federal Tax levies collected barely make a dent on US debt interest payments nowadays. The whole Mr Taxpayer sense of entitlement is misleading.

[@franklim9672]

It is amazing that Americans are comfortable with debts that their grandchildren cannot pay off.

[@danhtran6401]

Well...by the time their grandchildren are older, they,ll inherit the house and that should help...unless your grandparents hate you, you don't have to worry too much...

[@bengarton5801]

A federal sales tax of 4 or 5 percent would help with some spending cuts!!

[@gottasay1157]

Funny how THEY VOTED IN A RAISE FOR THEMSELVES FOR RUINING THE TAX PAYER.

[@jeffdavis4151]

for every liability an equal amount of assets exist

[@kenwang1193]

The old incompetent man doesn't think of reducing the debt, instead he wants to forgive student loans that will increase the debt. What a shame.

[@WarriorVinyard]

maybe allowing millions of non English speaking "migrants" in will help

[@mclaren720]

My chase/bank of America credit interest is at 25%.. I don’t even want to use it anymore lol

[@pkl8811]

Buy Barrick

[@bc0601]

Hmmm Yellen said it was over 34 trillion!

[@fredcole6844]

1:20 - Consider that number for a second (1.8 billion dollars per day on interest alone). If that was a lottery instead, that lottery could literally create 1800 millionaires PER DAY. 75 million dollars per hour, or 1 1/4 million dollars per minute. If the government gave away $20,000 per second every second of every day, that would literally cost us less money.

[@metrocubicodigital8252]

Only way out is Bitcoin. Its so ironic.

[@kraut1982]

Why can’t it just forgive national loan? It’s too big that there is any realistic chance USA will ever pay it back anyways. What percent of this is it paying every month? And how much new loan is it adding every month?

[@Demcatszzzzs]

We could just fund the irs this is not complicated

[@Anthony-wm5of]

When you find out your drug addict uncle sam spent all your money!😂

[@yuisure6755]

why doesn't the government force you to pay back welfare used like they do student loans with interest. This would create a huge amount of debt relief and payoff debt at the same time.

[@andrewestbrook4473]

Why doesn't the US government simply not tax the working poor? Make work pay. No handouts.

[@danhtran6401]

​@@andrewestbrook4473sounds reasonable...

[@Jindo712]

Unsuccessful Star Wars program, bank rescue, tax cut to riches, Covid… take a pick.

[@user-pj6lu9lh1y]

I hope to ask if you can help us understand what will happen after June 9 2024 when the 50-years PetroDollar Agreement expires between Saudi Arabia and the US? Is the mighty powerful USD currency a concern when Saudi Arabia decides not to renew the PetroDollar agreement? Can US still print money as usual from their 50-years of printing money? Please host a panel of experts to discuss the ending of the 50-years PetroDollar Agreement to global citizens? Please host a panel of experts to discuss the impacts from the ending of the 50-years PetroDollar Agreement to global citizens. Thank you.

[@r3dp1ll]

End the FED.

[@ruimiguelmendessilva1223]

can I buy the freedom statue?

[@ilovebarcelona9256]

😂😂😂😂😂

[@Solitas777]

If we had taxed at 1960s rates and reduced military funding we'd be fine.

[@serafinacosta7118]

Try telling the friendly folks at the Industrial military complex and their lackeys . The same ones who plotted JFK assassination and sandbagged Jimmy Carter.

[@quan8887]

Stop wars and negociate

[@thinkIndependent2024]

Where was this when Trump was adding 7 Trillion?

[@amadeusguy1009]

$10 trillion in spending on Iraq/Afghanistan needs to be mentioned. We went from $7 trillion to $17 trillion in 10 years. All to secure oil supplies. Fundamentally, a huge subsidy to benefit the oil and gas industry. Shortly afterward, during the fracking boom of 2008 to 2014 the USA became the #1 producer of oil globally, but nobody could have foreseen this success of fracking in 2008.

[@JagaimoNeko]

It was a lot less than ten trillion.

[@enceladus4900]

@@JagaimoNeko all the wars since 2000-2001 till today cost the US about $8 trillion of debt, might even say its one of the main reasons the debt down spiral started to get out of control, and here we are today, with unpayable debt and an upcoming major crisis that the fed is postponing time after time by printing and applying different measures, but theres no escape, the longer u avoid it the more debt will accumelate and the harder it will hit

[@MRLONG758]

The department of defense is a black hole that recklessly overspends. Cut the defense budget.

[@mack-uv6gn]

Worry not?

[@visualcontrast]

Why the music like it's a tribal documentary?

[@kanye254]

Every country should have the clock outside the national assembly buildings

[@tjts1]

Tax the rich. Problem solved

[@alystero8838]

​@@tjts1that's not gonna happen, they own all politicians whether right or left.

[@serafinacosta7118]

We have one in São Paulo , Brazil. Not a highly visible one by downtown . Rua Boa Vista next to a bridge.

[@carolynmorris7303]

Buy U.S. savings bonds!

[@rootpotato]

Oh America, you're so gorgeous. Perhaps we could come to some kind of . . . arrangement?

[@siarnaqfrost4968]

It begs the question that for all its spending, USA can't still provide proper healthcare and social subsidy to its citizens? Weird af when the countries next to it can without that much debt. I guess propping up the greatest nation on earth is expensive.

[@Western_Decline]

spends it all on military empire

[@7_of_9]

Republicans have a lot of money invested in healthcare and oil and both work with each other. Oil makes you sick, healthcare profits go up! Remove money out of politicians and Republicans will actually care about humans

[@BlueSkiesSunnyDays]

But the thing is America is not the greatest country on earth. It’s impossible to be when it can’t even take care of its own citizens, all anybody cares about in this country is greed, all the politicians do is point fingers like children, and they take the citizens tax money and do everything except what we want them to do with it.

[@FleetAdmirable]

Tbh most countries rely on the USA to provide for their defense, and defense doesn't generate any profit unless you want the USA to go on the offense.

[@geoms6263]

provide proper healthcare and social subsidy to its overweight and obese (69 percent) citizens?

[@ajx9747]

Us deficit will hit 10% of GDP by 2030 . 🇺🇸🇺🇸🇺🇸🇺🇸🔥🔥🔥🔥

[@yougetaspear7799]

Over 100%

[@tradeprosper5002]

The deficit was already higher than 10% in 2020 and 2021 (under both Trump and then Biden).

[@serafinacosta7118]

Your ledger is from 1930.

[@richarddecker9515]

Inflation is the only way to effect the National Debt. Think about printing up enough hundred dollars bills and pay it off. Gasoline will be $100 per gallon

[@sanketshah331]

Did they just skip over 2 expensive wars from Bush era?

[@MoonBug-jf5tz]

Full Faith & Credit....but you have a terrible credit score? Not holding a ton of Debt?.....isnt the Federal Reserve Note a inflationary 3x taxed debt instrument backed by compulsory use?

[@kurtphilly]

This was a horribly inaccurate piece of journalism. “The underlying problem isn’t fixed” Market failures (food systems that loaded with processed sugar/simple carbs, health care system where health outcomes to cost are the worst in the world), military and the cost of going to war which is easily 4 trillion for Iraqi/Afghanistan war and over 700B per year. If we were taking huge debt and many people weren’t becoming hugely wealthy that would be a concern. The debt as a crisis is overblown. It is a society that is sick and ailing that should be the real concern.

[@saboteur8428]

34.2...

[@dmana3172]

The solution is to default on the National Debts like bankruptcy, then we will be far better off.

[@freestylefranc2653]

Deafault around the corner

[@chesshead3943]

Debt spiral? Or death spiral?

[@user-pe3tt7iu7g]

LESS MILITARY SPENDING

[@joshborja8012]

Dedollarisation as slow as its going will case a lot of inflation!

[@Neckername1]

...It's going to be harder and harder to find ways to manage our poor fiscal management." It's poorly managed because the wealthy people that skim from it rely on it to be so. It's easier for them that way and makes it harder for them to get in trouble....

[@lucansanchez5129]

The job market is the biggest problem in the world, the purest form of degenerative behaviour a genuine waste of time. The only guarantee with a job is they will waste there time and inevitably waste yours. In a working world we are all consumers entertaine or be entertained.

[@villagecpa]

Thanks, Obama!

[@AudioEppa]

Interesting how this video gets uploaded at a time when people start looking at the pre market 🤔

[@user-ql4zu1ph3f]

DEMOCRATS.

[@serafinacosta7118]

Quoting Ralph Nader ..,, they all dial for the same dollar. Don’t kid yourself. They all grandstand from the same soap box.

[@CakeofPixels]

Hey quick question who added 7.8 trillion dollars to the debt from 2016-2020?