The Money Hole: America's Debt Crisis

America’s debt keeps growing. It will eat our future. Today we have a $19T debt. Here’s how we argued about it when the debt was $14T.

[@carlosmatos9848]

Remember- If you want to get elected to public office just tell everyone "We're going to lower taxes... and give you more free stuff"

[@micosstar]

Carlos Matos 👏👏👏.

[@knightbane2857]

Or raise taxes on rich 😂😂😂😂

[@60zeller]

Titus RobertsonHow about farm subsidies

[@SquidCena]

@@knightbane2857 or raise tax on you Hahaashshahahahahahaha

[@jockellis]

Thomas Jefferson invented this phrase when he ran for president.

[@therussiantrollnetwork7464]

More people need to watch you

[@tombenedict1096]

this this is what happens when government gets to big.

[@pipsantos6278]

Who is John Galt? This is going to get ugly once petro yuan takes some of the action.

[@jeremyjervis9178]

They should be chanting. "I didn't prepare" when I was younger

[@wifighostcruiser9665]

6:52 did she say, you're an asshole? I could swear that's what I heard!

[@Boodieman72]

Getting out of debt is easy yet they don't want to do it.

[@Zachery_Jiran]

4:32 This is why Democrocy is hurting this country

[@briangarrison1323]

outlaw lobbyist.Its bribery

[@gmarefan]

6 trillion dollars of debt ago

[@HIYENZ.Fashion]

i like this type of journalism, not many reporters are doing such a good job like this man.

[@xc8487]

Charlie leduff has a very similar style.

[@taggerinc2652]

He doesn't delve very deeply or do any real analysis of his subjects. He usually just skims the surface and jumps on the easy answers.

[@xc8487]

@@taggerinc2652 At least he goes out into the city and talks to the people. He's canoed the Rogue River in Detroit and confronted the many corrupt officials. Most reporters just set up a camera and never actually get into the subject like Charlie does.

[@seamorebutts1386]

@@xc8487 ¹

[@noooonotko6bxl]

god you’ll love Project Veritas

[@GuestYouTubeUser]

“Don’t cut anything, give us more.” 😂🇺🇸

[@JJs_playground]

Just like in your personal finances: *it's not how much you make. It's how much you spend.*

[@aurizanhabib3522]

i guess america right now becoming like game of throne..., kings landing that have a lot of amount of debt, and the politician care nothing but reelection

[@MrMundo3d]

As accountans is not how much you spend, is about where you money goes and what negative effect cause to incoming cash

[@blondthought5175]

We've become a nation of perpetual dependents.

[@Barskor1]

They break your legs and tax you to pay for the crutches what would we do without government?

[@danjbundrick]

that lady saying that she would "not decimate Medicare", followed by cheers reminded me of when Jerry said that Pluto was a planet to the Plutonians.

[@jackfowler6249]

WE NEED TO CUT COSTS!! Just don't cut the ones that effect me (says everyone and every group).

[@fthis1234567]

I remember watching this on 20/20 over ten years ago...stossel is the best journalist hands down. This man should get an award unparalled like no other award.

[@lisawoody1708]

Now it's nearly $34 trillion. Yikes. To lawmakers, it's just funny-money. You just type in some zeroes. To the rest of us, it's the difference between renting and owning, between college and trade school. Between one car or two. Between vacation or staycation. But what do they care? Their donors, families, and friends get a share, and by the time we have to pay it off, they'll be retired.

[@HikoBenny4ever]

Omg this was 5 years ago? It’s literally doubled since then!! :(

[@lylebarnard7447]

The very beginning of this video they show the debt clock at 14 trillion dollars what a good old days it's at 21.6 trillion now in November 2018 and United States keeps on going

[@kyleb2892]

Lol it’s basically 23 trillion now

[@sdprz7893]

26 trillion now

[@markogrba1]

Hmmm....yeah......27......now. f@#$k!!!!!!!!!!!

[@christophermilne6563]

28 trillion (technically 27.9, but close enough)

[@lylebarnard7447]

@@christophermilne6563 basically that is $1 for every mile to Alpha Centauri a star that is 4.5 light years away

[@robcape]

The good ole days when the debt was only 14 trillion.

[@Bjwilkes3]

Invest in .556 and .223. That will be the currency of the future.

[@deansapp4635]

Very true !!!!!!!!!!!!

[@UndefinedBailiwick]

The only problem with that is that trading ammo / guns means there's more potential hostiles you have to worry about.

[@TheHolySC]

@@UndefinedBailiwick You won't be trading it. You will be using it to get what you want.

[@UndefinedBailiwick]

@@TheHolySC He referred to it as a "currency", it would be more like a tool.

[@rustym.shackelford5546]

Actually .22LR Rimfire. Much better bartering item for SHTF - though you can't go wrong also w/ Silver Coins along w/ 1/10th Troy Ounce Gold Coins and a big reserve of 1 Troy Ounce Gold Coins. Just for bigger purchases.

[@TheRisky9]

A geriatric mob? That's not something you see everyday.

[@maxscott3349]

I guess journalists don't know much about knives, do they. The size of a cut depends largely on what you're cutting. If it's something like butter, a machete will do better. If it's something soft, but stringy, (like flesh) a scalpel will do a lot better and make much less of a mess. If it's something like wood, a scalpel won't do shit. As far as the budget goes, your best bet is the chainsaw bayonet on a fully-semi-automatic ghost gun AR-15 assault rifle

[@brendanjrice7307]

Someone needs to run for president with the soul purpose of cutting spending

[@lisawoody1708]

I'd love to get rid of the Department of Education, Department of Housing & Urban Development, and Department of Health & Human Services. ALL these things are supposed to be -- and are -- handled at the local and state level. All the Federal government does by involving itself in these local activities is add another layer of bureaucrats to be paid.

[@MegaSzym0n]

$22.3 Trillion :( (4/25/19)

[@CidPsy]

@George Nolan something akin to quadillion, but in truth I have never learned a bigger number than trillion. In fact, when I was teaches about this it was literally impossible to go above it economically

[@GodzillaFreak]

@@CidPsy laughs in inflation.

[@GodzillaFreak]

@@CidPsy Play this game called clicker heroes, you break trillions in a few minutes.

[@52trips97]

Once in my life i spent money like the federal government for two months.... I spent the next six months living in my car, I was lucky to still have a car.

[@jasonbrown4526]

The title of this video reminded me of The Onion skit where they debate whether or not America should keep throwing its money into a huge hole.

[@danjbundrick]

The congress person saying that she would "... not decimate Medicare..." reminded me of Jerry from Rick and Morty saying that Pluto was a planet. Except it was infuriating.

[@arhops9078]

We almost hit the 2025 debt as a percent of GDP in 2020

[@firefox30570]

Raise taxes or cut spending? You mean raise taxes, borrow money, and raise spending

[@DM-kl4em]

NOW, just 6 years later, we are over 31 trillion, congress voted to eliminate the debt ceiling until 2025, and we are sending billions of dollars to Ukraine. It's only getting worse, and it's literally doubling every few years.

[@thndr_5468]

People need to understand money doesn't grow on trees. We spend way too much. We need to live within our means!

[@AreYouFinnished]

Man I wish our debt clock looked like that one today

[@justiceforall1288]

This is why I can openly admit (and I voted for him) Obama was the worst President so far! 🤦🏾‍♂️

[@sidecar7714]

He initiated little new debt and signed of on large cuts while restoring some taxes.

[@faith-hope-love1corinthian486]

How is Medicare a "hand-out"? We pay into the system our entire lives. Government should have NEVER tried to "save money for the future" for anybody.

[@TheBandit7613]

Because what is paid into Medicare is not enough to cover the costs. How about the growing roles of medicaid. Those recipients get medical coverage for being above room temperature. And if you qualify for that, you qualify for free food and other handouts too. A nation of lazy freeloaders.

[@faith-hope-love1corinthian486]

@@TheBandit7613 Medicaid is not Medicare. Medicare should have NEVER been instituted in the first place. Instead, the government literally takes money from its citizens, & divides it out based on who THEY think deserves it. It is called socialism, & the program became an utter failure as soon as the government gave person "x's" money to person "y". It is a scam. Those who paid / pay into the system are the ones who deserve the money. It is only a "hand-out" to those who abuse it, with the blessing of the government. But for those like me (& we are many), we have a RIGHT to our money, when we reach the age of receipt. Shoot, we should get it back with interest. But that would have required fiscal responsibility on the part of "government.....lol

[@TheBandit7613]

@@faith-hope-love1corinthian486 As a high wage earner, I'm aware of redistribution. Really aware. It's my income bracket that does most of the paying. Yet, we get nothing in return. Zero. When our kids go to collage, we pay full boat. No consideration for scholarships or grants. Full possible price. And that goes for everything. Property taxes, health insurance, even license plates. For a luxury car my plates are over $6000 per year. It's called a luxury tax. People pay a few bucks per paycheck into Medicare. Then the first heart bypass surgery costs $100,000 or cancer treatments costs WAY more than anyone ever paid in. It's what people have voted for. Benefits. Any talk of modifying the "entitlement" to reflect actual costs and that politician is quickly voted out of office. "keep your government hands off my Medicare" It's why we're 20+ trillion in debt. I can no longer pay enough to support the amount of people riding on my coattails. The amounts are still growing. Everyone with a sore knee or back is on Disability. Collecting benefits for a lifetime.

[@faith-hope-love1corinthian486]

@@TheBandit7613 yep. (Not very articulate, I know.....there is nothing left for me to say, except "yep"). Meanwhile: $6000 for license plate, per year? Surely, I misread something. Anyway, nobody can afford to subsidize the entitled any longer. Hmmmm, this is making me grouchy.....I bet back off for now. I am pleased to hear you have worked your way to luxury!! Way to go!!!! 👍😊

[@cassiescott6499]

all FDR’s fault

[@robertsmith-cj6gl]

What debt? It's all Monopoly money

[@evilmelon8790]

"He's such an eloquent speaker, I'll vote for him!"

[@davidharrison7825]

Hahaha sleepy Joe! That was pretty funny honestly 😭

[@ashleyserene6846]

OMG this video gave me such anxiety. We are so screwed, (I know this is 3 years old. But nothing has improved.)

[@BobSmith-fx9sz]

Mid 2022 - USA's debt at 29.6 trillion.

[@BrianBBBB]

1:42 The George Costanza wallet

[@mrreaper8826]

3:17 There he is, Sleepy Joe.

[@howardking3046]

People don’t realize that inflation is simply another real form of taxation. It is the easiest form of tax to levy because it appears not to have victims (victimless crime). Politicians don’t have to account to their constituents for it by forging worthless, unaccounted checks that appear to be legitimate currency. But, it has real victims-the savers and the very young. It is justified by claiming that savers have probably amassed their fortunes on the backs of their victims/slaves and therefore should be forced to give it back (reparations). The very young, on the other hand, aren’t able to protest so who cares about them. When their bills come due, the pigs will be gone. That’s a time tested assumption-no mystery to me. I was a saver and was forced to spend a good share of my time keeping the pigs out of my piggy bank. I am convinced that the world will never change because most men will never change. It is a truth that, if evolution really happened, man descended from pigs-maybe that’s why modern medicine has discovered that many pig organs can be substituted for human organs (heart valves, skin grafts, etc.). And, behaviorally, we are much closer to pigs than any other living organism-if they get too hungry, they will eat their weak and/or their babies! How does that make you feel?

[@DrRChandra]

"Brandon" keeps saying, you have to give me a debt ceiling raise without any spending cuts, a "clean" bill, or he'll never sign it. And it's close to 7 years later, with the national debt at about $31T. Virtually noone wants rationality, they all want to live in a fantasy world where money, especially government supplied money, is infinite.

[@tylerrjohnson68]

I owe my car payment, house payment, electric, and insurance....... The government owes what the government owes...... They can raise taxes but if no one is paying taxes then they fucked Less and less pay taxes, more and more refuse to pay taxes, many no longer report income. It's the government's debt, not mine

[@DarkHorseSki]

If budget cuts are racist, then wouldn't that mean that taxes which pay for the budget are ALSO racist against those who predominantly pay the bills?

[@ruzzelladrian907]

I wouldn't be surprised if Alexandria Ocasio-Cortez and Bernie Sanders would say 'Let's print more money!'

[@Paul-A01]

During those lobbyist hearings the congressman should have a ordinary looking civilian sitting next to him. Each time the lobbyist asks for something they have to hold a gun to the guy's head and tell him to pay for it.

[@MrLionpaws]

The only reason we have a national debt is because the criminals in charge of the federal reserve bank demand that we pay interest on the money supply of our own country. That is completely unnecessary and the reason you can tell that that is true is because there’s a bank in Nebraska that’s a public bank and even more obviously the Pentagon has overspent to the tune of $25 billion over the last 20 years and we still don’t have runaway inflation because the whole world is depending on US dollars for trading well and we use our military to enforce that rule

[@hellavadeal]

They should seek funding from the private sector. If it is worth while, it will work. If not, don't make us pay for it. The country is broke.

[@johnjenson9965]

Sleepy Joe

[@argus4650]

5:23 in my young mind I saw some middle aged people opening their beaks for worms.

[@casualstylenetherlands2588]

Hahaha now its 28tr hahaha 28 28 28 28 hahaha

[@joebrewer6554]

Oh, I am totally blaming the vice president for sleeping now. Wake up Biden and do something!!

[@twombonu]

I find it surprising that so many people can't cope with the simplest facts of life, like for example: there is no free lunch.

[@CG-vn8iy]

This is the problem with politics. They are more worried about getting re-elected than doing something good for America.

[@dsolomon]

The problem with Social Security is that it didn't change as the life expectancy got longer. In 1935, when Social Security started, the life expectancy was 61, but Social Security didn't kick in until age 65. Most people were on Social Security for a short time. If Social Security continued to kick in 4 years later than the life expectancy, then it would kick in around age 82 in 2018. How long would seniors be using Social Security? Not too long. I have long believed we need to slowly move the Social Security ages later and later. Perhaps every 5 years move it 1 year higher. It will take many years, but eventually we'll restore it to its original intention, keep it solvent, and bring the debt level down.

[@perryreasch1499]

they want you to die ? so they do not have to pay any money to you ?? that is why they raise the age

[@MrMatt-cm6do]

If we cut out the multi-trillion-dollar-welfare-for-billionaires-handouts and the regime-change-wars fought in far away countries we know little about, in the service of ‘freeing-people-from-themselves’, I think we’d be pleasantly surprised with how much money we’d save.

[@jynflyn1679]

We just need to cut a bunch of the free stuff. The reason Greece failed is because they started giving so much free stuff.

[@switchplayer1016]

I'm an electrician I've worked in buildings rented out by Gov agencies getting remodeled. The amount of work they do is shockingly low. If you want the budget to lower start cutting some useless federal agencies.

[@Gen-Z-Republican]

I am from the future, today is $32 Trillion. Crazy!

[@ryan-xj4hr]

upvote if your watching and the debt is over 21Trillion

[@WarDaddy1919]

.... only $14T 4 years ago

[@jamesberry4514]

Nothing wrong with citizen lobbyists as long as the politicians can, and will say NO when certain things must be done. It's not about which issues need more money, are infrastructure, government programs, defense, education, health care, entitlements important? Someone will value one issue over another, yet in the American budget each of these areas involve extensive WASTEFUL spending. Case in point, hawkish George W. Bush cant increase defense spending in congress so he suggests to shut down uneeded military bases and use the already excessive budget to pay for the new stuff he wants. So he suggests to congress, shut down these unnecessary bases... some barber in Montana might lose his job, so that can't happen.Unfortunately people do lose their job from time to time, and it's hard. Yet what happens, everyone is perpetually appeased, and then ..... Greece

[@Mythodyn]

*Slash it, slash it* -Ron Swanson

[@jessecarver9176]

Government needs to get the fuck out of just about everything and let the free market take over.

[@conradoabreu2623]

Today is 22 trillion debt. And this video is only 3 years old.... (2019)

[@ShieldsJustice]

Conrado Abreu Ridiculous isn’t it?

[@jamessmith785]

Here's a thought, ban lobbying in DC and make it a jailable offense and instant ban from government service for any politician who can be shown to directly benefit personally from a bill they introduce or push to be passed. That will kill a lot of corruption right there.

[@robbenkovitz]

Great report as usual from Stossel - too bad the situation has gotten much worse in the intervening three years since this clip was put out. The Tea Party republicans made only a token dent in federal outlays, and even that slight spasm of fiscal responsibility has passed into history. Federal spending is totally out of control with absolutely no end in sight.

[@patrickkimberley7143]

Fast forward that sleepy vice president is now older and president

[@mrjixk]

4:10 Oh God, John, you are the best. We love you, man.

[@chadcastagana9181]

1:06 So our National Debt will exceed the value of our yearly GDP in 2021?

[@CatobisGaming]

Chad Castagana that’s an estimate, but yes around that ballpark

[@johncarlollavor2146]

@George Nolan oh we should care because if not, it will turn out BADLY.

[@IHaveaPinkBeard]

John, you just criticized Trump for saying the trade deficit is bad! You said it is a good thing! We get product and China gets paper?!! Where's the consistency!?!?!

[@GamingWithNikolas]

I've only just a discovered him, and he's a rare breed of journalist. Not politically biased and talks about the big issues. One man can't be perfect.

[@impossiblegaming2042]

Neighborhood assistance office wtf is that i dont need that cut that shit funding

[@abdulrahmanchalya7873]

Just privatising social security would save so much money, the government wouldn't be able to take the money and the economic growth would be unbelievable and theres a higher payout.

[@Zb_Calisthenic]

Exhange "social security" with "everything."

[@iwontreplybacklol7481]

$2 trillion more in debt to stimulus bill 2020, yay!

[@albertnorman4136]

Our debt-to-GDP ratio is worse than Greece's, but because the US dollar unofficially functions as the world's reserve currency, our effective debt ratio isn't as bad. This will change when the nations of the world decide that the currency of another superpower is more reliable, but given that the EU, Russia, and China are all run by predatory kleptocrats, most of the world is taking a 'better the devil you know' approach to using a superpower's currency (ie, the US dollar) to back their own. We do _not_ want to test this happy state of affairs to destruction.

[@lisawoody1708]

Well said. Some day, though, another currency will emerge as more reliable than the dollar (especially since we've been printing money like there's no tomorrow). Whether crypto or BRICS, something will step into the void of the diminishing dollar.

[@happyhobbit8450]

Thank you that was awesome!!! I appreciate the truth -- it may be true also that the interest on the debt is equal to the amount of taxes collected? I believe the biggest issue is that govt wastes money ... it should be run like a business and get rid of the panhandling for votes bullshit :) Expansion of govt should be avoided!!! Gandhi said villages are the answer = community = family & friends :)

[@sidecar7714]

Solution raise taxes, lower spending. You have to do both.

[@sidecar7714]

@woof beast Republican congress in 2017 raised spending by 7% and cut taxes. That's reality. You are focused on bullshit.

[@shermanngjazz]

Now the debt is $24 trillion smh 🤦‍♂️

[@thehealer560]

Thanks again John for informing us on the truth!

[@peteranon8455]

I'm wondering if we should all just vote more entitlements until the collapse happens.

[@stevegrayson4124]

You got it, BINGO!!! You don't see Trump cutting back on spending. He knows when the Democrats get back to running the budget, they will just spend any thing that he could have saved. Trump has FLIPPED the table on the Democrats playbook big time and it was about damn time a REPUBLICAN had the balls to do it to THEM.

[@ndustries6323]

14 Trillion? That’s cute.

[@nickverse3463]

this aged so well unfortunately

[@jackie8846]

Another great job by Stossel

[@Basu770]

lmao it's twice this now...fk

[@cosieman4877]

over 30 trillion now

[@unknowncommenter6698]

To be fair, no matter the size of debt, dollar is still world's currency and America can just print more money if they'd actually have to pay all that debt. Funny thing, government doesn't have to pay it.

[@yes3443]

This is hilarious seeing it from 2019

[@normbograham]

The difference is the strength in the military. A grossly strong military country, can be a currency bully. We are a currency bully. We are going to go into convulsions, when our federal spending has to be reduced by 90%. As a matter of fact, we are spending at least 70,000/taxpayer per year.

[@mirzaahmed6589]

Now it's $2.2 trillion more.

[@TommyMutchler]

I have an idea! Just cut it all!

[@Gapeh0rn]

3 years later , doubled it

[@therealmrfizz8292]

The fiscal commission provides the framework for a conversation -OBAMA- 🤔😂😂🤣🤔🤔😂🤔🤔🤣🤔😂

[@DEmersonJMFM]

Don't discriminate on cuts. How about a simple 10% cut to every program? Seems like a good start to me.

[@turtleanton6539]

Great videos ☺️☺️☺️☺️

[@paytonwalter7934]

Crazy shift worker nurse thinks she owns patients and knows more than even the doctor who has to worry about the patient all day and night and is the one who will get sued when things go wrong.

[@DJToneRI]

Bottom line is, as a country we are living beyond our means. As a whole we need to understand that to be a stable country we're going to have to scale back our lifestyle a little bit. All of us.

[@ITPalGame]

I'm John Stossel, in for Clifford Banes who is currently showing his patriotism by stoking the money fires.

[@technow3789]

ITPalGame those onion videos from 10 years ago are becoming too realistic

[@ITPalGame]

John's reference to that video in another one of his videos was great. I only started seeing them a few weeks ago (the later ones are horrible imo).

[@technow3789]

ITPalGame oh really? No way, I must have missed that, do you remember which video that is?

[@chadsteele1]

If America needs a bailout, the globe will need a bailout and then I hope u all have the stomach to do what's needed which is toss the govt and start over. LOBBYING WOULD NOT AND SHOULD NOT BE ALLOWED.