USA Can NOT Repay Its Debt. What Happens Instead

[@Grace.h-t8o]

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...

[@DhanaPayar]

Gold might crash in a liquidity crunch, but many precious metal holders are prepared for this and unlikely to be forced sellers. The paper market would tank and possibly collapse. Hearing from an experienced investor who has overcome adversity is motivating. It can be scary when your portfolio turns red, but if you've invested in strong companies, stick to your goals and continue growing them

[@Helen-n8j]

It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.

[@berniceburgos-]

impressive gains! how can I get your advisor please, if you don’t mind me asking? I could really use a help as of now

[@Helen-n8j]

My fiduciary is Stacy Lynn Staples. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

[@Lewistonwilliams-f5i]

Thanks a lot for this recommendation. I just looked her up, and I have sent her an email. I hope she gets back to me soon.

[@jasonborkowski4892]

My math shows 35 trillion, divided by 435 House members plus 100 Senators, comes to 65 billion each.

[@geo1134]

We voted them in period and continue to vote them in

[@STF68]

Govt runs out of money for SS but never runs out of money for Welfare, sending to Ukraine, or Lebanon…. Give me a break!!!

[@annahopp]

Time to move to Ukraine where our money is. 🙂

[@MiddleclassAmerican-7220]

I see the rising interest rate as a very big problem, as more investors will definitely pull out more money from the Stock market. This might have worked when I was still invest-ing with a couple thousand dollars, but it is more difficult now to decide whether to pull out more than $365k from my port-folio. I know some inves-tors still make that despite the strong bear market. In wish I could pull that feat

[@NotyourBusiness-urto6]

I think the whole thing about holding stocks for long term will always apply. So I think you should get a quality broker who is able to analyze and pick stocks that will do well in the long term, else you will be in a long bear ride.

[@freedomisEexpensive-08]

You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a broker, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst.

[@GREGG-43]

This sound interesting. I’m not really one to use pro analysts, but I guess it would not hurt to try one. My portfolio is in the red waters right now

[@freedomisEexpensive-08]

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Elise Robinson for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

[@lincoln-tser]

She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.

[@douglasblum309]

Corporations do not pay taxes. That cost is ALWAYS passed onto the consumer, which is we the people.

[@wjksea]

Yes, the petty bourgeois, the farmers and small business owners who receive much lip service from the right and are the most easily manipulated by fascists. “Look what they are doing to you” “you won’t have a country if you don’t fight like hell”

[@navsofour2892]

Prepare for more passing onto.

[@bryantjenks3598]

Plus if you look at that graph the business tax being high was before 1980. Way before 1999 when we started a deficit.

[@jamesalias595]

Which is why I think corporate tax should be zero. But then we need to change how we tax capital gains so that it is taxed exactly the same as earned income. There are loopholes where hedge funds make massive profits and no one pays any taxes on their investments. However, with a zero corporate tax rate I would implement a national sales tax, so that corporate buyouts and mergers would cost real money as they reduce competition and shield the corporation from paying any taxes. The national sales tax would apply to luxury goods and certain services as well as corporations trying to transfer money overseas or spent on stock buybacks, mergers and the like. Bill Gates can buy farmland but then Bill Gates would be subject to sales taxes on that purchase, where as now that money is shielded in tax loopholes and allows for massive amounts wealth to avoid any taxes.

[@pascalbruyere7108]

Wrong. Corporate taxes are on profits. It just means a bit less after tax profits.

[@mr3745]

We need to both raise taxes and cut spending. Raising taxes doesn't always translate to more government revenue either, but it changes patterns. When taxes were high from WWII - 1970s, companies re-invested a lot of money in R&D and we had some of the greatest public/private partnerships ever which drove the space and arms race with the Soviets. As a spin-off gave us many of the affordable technical luxuries we enjoy today. We need to unlock more of the dynastic wealth that is held by the 1% or even 0.1%.

[@pumasheen]

Exactly. Watching videos like these from different content creators, they only talk about cutting spending. They don’t mention raising taxes on the wealthy. Cutting taxes on the wealthy since the 80s is the reason why the national debt has gotten so high in the first place. Just roll tax rates back to what they once were

[@hogroamer260]

Then they change citizenship.

[@babybaby250]

@@pumasheen best answer, stop spending in war efforts which is all a scam

[@damncars2618]

Earning in America and spending abroad will keep retirees afloat. I've been preparing for this crisis my entire life. Thanks for the update.

[@bryantjenks3598]

With your American dollar? My fear is the exchange rate might end up being a problem unless you are in Ecuador.

[@damncars2618]

@@bryantjenks3598 The Fed needs a strong dollar to keep inflation down. But the wise will keep an inflation hedge, like a rental home, available in America, just in case.

[@donmountford797]

@bryantjenks3598 you shouldn't keep all your assets in any currency. Most advisors encourage you to invest at least 20% overseas for diversification and too help with currency fluctuations. People have been predicting the dollars fall for many years. It might happen, but I wouldn't be assuming it. India just came out this week saying despite being part of Brics, they still want to do foreign transactions in dollars and are not on board with Russia/China in moving off the dollar as the world's currency.

[@BillSmith-c2q]

Corporations don't pay taxes (never have) they collect taxes from their consumers.

[@chrisferretti7020]

💯 Governments cause inflation.

[@STF68]

Not true. Not all corporations sell directly to consumers.

[@BillSmith-c2q]

@@STF68 Anyone who buys from a corporation is their consumer.

[@pumasheen]

And you’ve never paid taxes in your life. Your taxes are paid by your employer through the wages they give you

[@waterkoppie]

​@@pumasheen Indeed, but so what ? That's how it works, tax is but a name, you can take it at different point in the economy (e.g. companies, customers, workers). The worker paid tax money you refer to can indeed only come from/through where it is made, i.e. the companies, that get their money however through customers (partly being other workers, partly other companies) that pay these companies partly with thus circular money, and partly customer debts. But where did all the money originally and gradually come from ? From the federal reserve(s) that print the money, and supply it to the companies through investments loans, injected as debts into the economy. This injection is not even a circle, this money does not come back to the FedRes (only the interest comes back, earned by companies and customers, creating inflation/amount of money, injected again back into the economy), so debts (and interest and inflation) remain, even increase. Hence we live in a never ending debt economy since we left our caves, and started using money instead of exchanging physical products.

[@KurtS-kx9iz]

I’d be happy to pay my full share of that today, if they never tax me again lol

[@otbricki]

🤣 Your full share is 95% One, two- (One, two, three, four!) Let me tell you how it will be There's one for you, nineteen for me 'Cause I'm the taxman Yeah, I'm the taxman Should five percent appear too small Be thankful, I don't take it all 'Cause I'm the taxman Yeah, I'm the taxman (If you drive a car, car) I'll tax the street (If you try to sit, sit) I'll tax your seat (If you get too cold, cold) I'll tax the heat (If you take a walk, walk) I'll tax your feet Taxman!

[@ParisianThinker]

Every American needs to pay up to cancel the debt.

[@KurtS-kx9iz]

@@ParisianThinker that sounds good to me

[@kevinberta8741]

@@ParisianThinker Every politician that created the debt needs to have their wealth confiscated. They lined their pockets at our expense. Most would label that as fraud.

[@drumsnbass]

Dittos!

[@larriveeman]

no way will congress cut current social security benefits, too many voters, they will increase payroll taxes on those making more then 150-250K with no additional benefits to that group, they will get rid of the earnings limits (168K), they may increase the retirement age for those 25 years old or younger. They can can means test survivor/spousal benefits, there are many ways to fix the system

[@sambira]

If the government cuts Social Security, there will be a blood bath (probably literally).

[@kevinberta8741]

Means testing is horrible and should never be implemented. Think about two people who make the exact same amount every year. One buys new vehicles and fancy boats. The other saves money for retirement and lives below their means. Now they retire. One qualifies for SS but the other has saved to much money and no longer qualifies. In the end, one was rewarded for being financially irresponsible and the other is penalized for being responsible.

[@DanSvoboda-hg5mm]

remove the earnings limit! keep the benefits limit.

[@brendanmoran397]

What if we stopped giving money to Israel and Ukraine as opposed to taking away social security from people who paid into that system? Would that help?

[@rickmossop3733]

I think the money they give to Israel has to be spent on U.S. made weapons. So the money really goes to U.S. companies to employ U.S. citizens. I don't think the money to Ukraine has the same stipulations.

[@pcdude2394]

Ukraine and Israel are test labs for US military weapons. Also the destructions of Ukraine and Israel are opportunities for US contractors to come in to rebuild. War is profitable, unfortunately.

[@johannesswillery7855]

It isn't even a drop in the bucket.

[@jjred233]

You never look at the federal budget. Its 60 percent on social spending like housing, welfare, education, healthcare, food, etc. The healthcare and education are growing faster than anything else. That's waste on government administration.

[@msisles6278]

No, the federal budget is SS, Medicare, interest on the debt and defense.

[@thomasboissy3560]

Irresponsible leaders and their spending.

[@msisles6278]

Irresponsible voters and media who don't hold them accountable. Everyone loves Santa Claus, but you need Scrooge.

[@donmountford797]

@thomasboissy3560 well to be fair it's been a constant trend for 40 years where we alternate between a republican administration cutting taxes and a democrat (and often republican administration as well) expanding spending with the inevitable result that we are paying the lowest taxes in 100 years and the government is spending at record levels. The problem is that voters never want to make difficult choices, so they simply get what they vote for: the mirage of a free lunch.

[@davidfairchild1640]

There is no such thing as a tax on corporations. There is only a pass through tax borne by customers or employees.

[@xlerb2286]

Agreed. But it does distribute that tax to the people that use those goods and services rather than everybody. And for any goods sold to foreign countries or citizens that passed through tax gets paid by them, not us.

[@pascalbruyere7108]

No, the tax is on benefits, on profits, so it just lowers the profits a bit.

[@davidfairchild1640]

@@pascalbruyere7108 you're kidding right? Corporate owners get to decide how to deal with a corporate tax. They can choose higher prices for customers, lower pay for employees, or fewer profits for themselves. Which do you think they will pick last?

[@pascalbruyere7108]

@@davidfairchild1640 it depends on their competition, market situation, job market, etc. Most of the time it means lower net profits, as I said.

[@PeterDavila-mx9ni]

I retired at 65 but waited till 68.5 years old to apply for social. For me, it was the right decision, because of the following: 1 - I'm in great health, fortunately. I guess a lifetime of healthy food and lots of exercising has helped with that. 2 -Good nightly sleep is critical to staying healthy. So, I wanted the social security to pay all the usual monthly expenses. That works great for me, since I'm frugal, so I don't carry debt. Low stress, better sleep. So, file later if low financial stress is something you do want in retirement. I am taking additional steps. I'll be leaving the US and moving my retirement to a less expensive country. That should help even more.

[@johnd4348]

Congress is not worried about the debt. Neither am I. The debt will never be paid off. But Countries will stop buying our debt.

[@cactuscanine3531]

How does that fix anything?

[@lizardhunt96]

Sounds like someone is in la la land.

[@GWAYGWAY1]

The debt does not actually exist with a body for it to be paid back to. The money was printed with nothing behind it. It was INVENTED by plucking out of nothing, the interest is actually real, but to the central banks. The actual cost was absorbed in the labour of workers and at the same time the DEVALUATION of the dollar from 100% and now down to 6%. Next year 1% of the 1933 values. Gold has stayed the same value and you can see the dollar value against it. Defence spending is the major cost as it is to hold the world to blackmail with violent threats and hegemony. The world will not stand for it anymore.

[@SantaBarbaraAlberto]

Not so fast, Azul, corporate rates were higher because of the war, but the amount actually paid by corporations was way lower. Conflating the tax rate to what they paid is not honest. Try again! The fundamental assumption that the debt can't be paid is false also. We have to stop spending and promote actual growth. A combination of both, surrendering to we can't pay the debt, is not the way.

[@yepyep6916]

The Math ain’t mathing…regardless corporations may not be paying their fair share.

[@DrDRE4391]

Income taxes on the wealthy are much less than they were in 1981. Productivity and wages separated precipitously since 1981. Income from taxes of corporations is much less today than they contributed before 1981. The third-party medical insurers suck 30 -50% of the Health Care dollars spent in the US, yet the US won't change its system. We are the only wealthy country in the world that does not have a National Health Care system. We are only as lucky as we are because of our World Currency status. How do we fix it? Tax the Wealthy and Corporations much more. They are the reason for the deficit. Change how healthcare dollars are spent.

[@johannesswillery7855]

The math doesn't add up. There are not enough wealthy people to make up the deficit.

[@DrDRE4391]

@@johannesswillery7855 Yes. Not enough to pay off the National Debt, but to drastically reduce the deficit, (the difference between what the US spends and what it takes in). Don't forget Corporate tax revenue and reduction of 30 to 50% of healthcare dollars spent.

[@johannesswillery7855]

@@DrDRE4391 The only way we will get healthcare costs down is to get seed oils, preservatives and ultra processed foods out of our diets. RFK Jr is talking about it.....

[@ngoshawk1]

Raising taxes is not gonna fix it, the government will just spend the extra money. Look up the Graham Rudman act, was supposed to ensure a balanced budget by law. You see how that worked out!

[@DrDRE4391]

@@ngoshawk1 Faux Talk

[@hanwagu9967]

Posting about individual vs corporate (C corp) income taxes hides the fact more than half of business income is reported as individual income via pass-through businesses. Corporations are also double taxed at entity level and shareholder level. Let's also not forget the number of tax exempt entities have dramatically increased, exempting over $3.3 Trillion.

[@marvinphillips1326]

I’m curious what the US government considers “Other” as part of their budget? Could it be stimulus handouts (free money)? Housing and feeding all the illegal immigrants they let through the border? Funding foreign wars? Unemployment (of course its the new unemployed not the ones who were removed because their benefits ran out)? Or maybe they’re afraid to tell the public what it really is? Seriously what is in that category?

[@onewayofliving]

The US will inflate away its debt away. This is why you move away from the US dollar and into Bitcoin, real estate , and other hard assets. Sticky inflation is inevitable. Government will never spend less and they are trying to inflate our money at at least 2%. Debt will continue to explode.

[@markalexander832]

Inflation also eats into the value of real assets. The land is still the same, but the value in inflated dollars cuts deeply into the preservation of capital. The costs to maintain real property, as well as property taxes, continue to rise with inflation, while capital gains taxes will take a big chunk through inflated land values.

[@jonfloyd1494]

Bitcoin is nothing but a pump and dump. A major ponzie scheme. What can you buy with bitcoin. It is only worth what the next sucker will pay for it.

[@wjksea]

Unless the right wing Wall Streeters are in power. Then they will spend billions funding Raytheon and talk about how great our economy is. Then when democrats are in power fixing a few things, t The financial slick talkers will have this here conversation and appeal to the petty bourgeoisie who are so easily manipulated. “ I love the uneducated “

[@wjksea]

Bitcoin is money laundering and when there’s talk of criminal opportunism, this is it.

[@pascalbruyere7108]

Stock market as well: you buy a bit of these corporations that pay low taxes. Bitcoin only if you time well your in and out of the Ponzi scheme.

[@northharriscollege]

Most of it is debt to ourselves around 80%. Therefore, Americans are the ones receiving the interest.

[@davidfairchild1640]

Great! Where's my check from the Treasury to make up for my higher priced groceries?

[@modestproposal9114]

Paying interest on treasuries is a choice. A choice to subsidise rich people.

[@JANAVEL1655]

The USA is close to losing "World Reserve Currency" Status. In fact, many countries ALREADY starting de-coupling from the US dollar

[@MidlifeCrisisManagement]

it will be issue because neither party is interested in cutting spending, Azul.

[@stanmarcusgtv]

the Tea Party tried in 2010 when the debt was 1/3 of today but was crushed by BO, Dems in Congress w/ an assist by RINOS like McConnell.

[@toddsmith4280]

Azul, when did the US pay off its national debt completely in the past? How about other countries? How many have no national debt?

[@RJasonKlein]

The US government doesn’t have a revenue problem, it has a spending problem.

[@BRunner12]

Public Debt is the private sector wealth, no debt, no money...that's accounting

[@markuskoarmani1364]

Becuase USD FIAT is a deflationary Note, the debt is easily repayed by increasing the supply. If the Debt was contracted to be payed in Gold than your argument is valid.

[@mplate1792]

Personal finance strategies are based on our life expectancy. Our country has a longer lifespan and can carry debt much longer than a person. The strategies are different. That is not to say things haven't been abused.

[@davidfairchild1640]

It also helps that the country has the Bureau of Engraving and Printing.

[@bleedingonthehomestead6643]

So if the government prints 10 million and then it uses this imaginary cash to build a bridge(as an example), the imaginary printed cash creates a real, and tangible assets for the country. In addition, the 10 million fundend are not locked in the actual bridge. The money goes to the workers who built the bridge, in turn, spend the cash for their living expenses. Just think, how small this country economy would be if these imaginary trillions did not make into the economy and produced tangible assets.

[@davidfairchild1640]

Wow. Brilliant. So how did things happen before fiat currencies?

[@seanlee7670]

Will USD be worthless? What will happen to Fed issue bond?

[@SirAlford]

Easy Solution...stack physical silver/gold and be outside the fiat system.

[@kevinaudette9550]

Corporations don’t pay taxes. They pass on that amount to customers in the form of inflation.

[@thomasarbec7242]

What gives them the right to dip into SS money that we have given into?

[@navsofour2892]

Every country does that.

[@donmountford797]

You realize their is no "social Security" box that you taxes get put into? When their was a surplus the government would use the funds to buy treasuries and now it is beginning to run in deficits. The government "money" is just an accounting ledger. This isn't new this has been the case for generations.

[@jimwolfe4286]

Thank you , Azul...Terrific Video !

[@ADobbin1]

The government can pay it back but it would have to massively scale back social spending, which accounts for 75 to 80% of the annual budget.

[@modestproposal9114]

9:30 the US treasuries owned by foreigners is a measure of the STRENGHT of the US. It's because the USD is the world's currency- a massive advantage.

[@marthamark9387]

lots of mention of corp tax, not to be political, but we did not have medicare until 1965, we did not have dept of education until 1979.

[@protectanimals9792]

We had to spend out of the pandemic. Every country did it. We’re recovering faster than any other country. So much waste in all branches of government. Both parties are equally responsible regardless of them always blaming the other ,when you look at the facts.

[@sambira]

I agree. The spend is pretty much the same from either side. The difference is what they spend it on. It's been that way for several decades now.

[@jimbo7577]

We absolutely did not need to spend ourselves out of the 'pandemic' which was not a pandemic by the normal definition of the word. The truth is out, there was no need, and the government had no legal authority, to suspend our constitutional rights, and we should not have accepted it. It was a massive scam that created an untold amount of new billionaires while wrecking the economy and destroying the health of millions. Stop perpetuating the big lie.

[@StephenCowley001]

Who owns the debt? Is it the same people who owe it through their government? Is it something to do with USD transactions overseas, or interest-bearing debt?

[@rodrigok1220]

Problem isn’t a taxing issue, it’s a spending issue. We basically borrow money to give to foreign countries in aid. Remove subsidies for gas and electric, make every federal agency reduce expenses by 3 percent per year until they reduce spend where debt doesn’t continue to rise. Need to reverse the cycle to no longer have the debt growing

[@jamesalias595]

Just a real zero percent increase per year would be a big win, but the government fudges the numbers, when the government says they are reducing a budget by three percent that is a three percent cut in their projected growth.

[@flea4061]

Clown. Its a spending and tax issue.

[@swtexan6502]

@@flea4061 Feel free to disagree, but you can still be gracious to those you disagree with, right?

[@rodrigok1220]

@@swtexan6502 He’s just living up to his name.

[@gailkelly7220]

monitise the debt by increasing the price of gold enough to cover the debt unless we have no gold reserves.

[@zoraster3749]

Inflationary default. Why you need to own assets and why Roth conversions are never a bad idea. If 50%+ of your returns for the next 20 years are from inflation and the government taxes you on nominal gains rather than real gains then you are effectively being taxed for twice as much. More when you consider that inflation is underreported pushing you into a higher relative tax bracket. Roth early, Roth often.

[@bjhellstrom1284]

Eventually, congress will renege on the ROTH deal. They will start by imposing RMDs on ROTH accounts of those nasty wealthy folks who are not "paying their fair share". Any ROTH that has over $300K in it.

[@bobbarista]

That is why gold price keeps going up. Other countries are not stupid and see that treasury bonds is worthless in the long term. So probably buying gold to insulate themselves.

[@kahvac]

Our future taxes are going to be much much higher !

[@KidHorn7001]

Raising taxes doesn't work. I believe once it goes above 20% in aggregate, people start making less. They're not incentivized to work harder for more money,

[@bryantjenks3598]

But we are getting tomorrow’s rewards today at the expense of tomorrow’s workers who won’t be able to enjoy our lifestyle.

[@xlerb2286]

A low rate of inflation is factored into the cost of buying US debt. But if we try to inflate out way out of debt I think we're just going to end up having to pay a much higher interest rate on any new debt we try to sell. Which makes it more expensive, but gee, inflation worked before so let's try more of that. And down that path lies madness and a needing a billion dollar banknote to buy a cup of coffee. So for once in the history of the world let's not go there. (I'm not holding my breath).

[@KidHorn7001]

Even if the US gov't could somehow pay off the debt. Doing so would be hyper inflationary. Suppose they found $35 trillion today and decided they would retire the debt with it. The holders would now have $35 trillion USD to invest/spend. The DOW would go up 1000% in one day. I know they would probably gradually reduce debt by not rolling over maturing debt. But they could do a lot of open market purchases.

[@modestproposal9114]

Paying off the debt would be massively DEFLATIONARY.

[@KidHorn7001]

@@modestproposal9114 How so?

[@modestproposal9114]

@KidHorn7001 it would be taking ALL the USDs that exist, out of the economy. It would crash demand, everyone would default on all their debts, no goods could be bought with dollars. We would have to start again with private IOUs.

[@KidHorn7001]

@@modestproposal9114 Why would it take all the USDs that exist? The money would just go from the government to bond holders. Who would then have to do something with it.

[@modestproposal9114]

@KidHorn7001 where do dollars come from? What is their origin? The government issues them - spends them into existence. Dollars are IOUs. The national debt equals, to the dollar, the private surplus. So to pay it off requires taxing back all the dollars in private hands. No national debt means no private savings.

[@davelively7423]

KZbin made it really hard to watch this video but inserting 2 to 3 times more ads than I normally see. There were a couple of times a new ad popped up less than 30 seconds after the previous one ended Certainly not the fault of Azul but annoying. Maybe the KZbin algorithm decided I am a sucker for this subject and is running an experiment to see how many ads I will put up with to watch it.

[@MidlifeCrisisManagement]

KZbin Unlimited. look into it.

[@valeriewright-kc1wc]

Thank you for a great video Azul, i appreciate you .

[@ZepPetey]

Azul, Congress, specifically The House of Representatives, controls the power of the purse. Please show a chart on which party has created this massive debt. Thank you.

[@raymicciche8869]

The federal government has $5.95 trillion in assets and $129.06 trillion worth of bills resulting in a $123.11 trillion shortfall, or a debt burden of $796,000 per U.S. household.

[@followingflinn8311]

The fact that social security exists is most of our problem. No one takes responsibility for for their situation now, especially the government.

[@knowthyself690]

Corporations do not have to feed themselves nor a family, but since Reagan, they have had more consideration than the individual. One of the solutions is to raise the corporation taxes back above 30% at least and cut non essensial programs. I am 53 and grew up on welfare in Chicago vowed never to be a Welfare Baby. I have kept that promise. Just saying.

[@lizardhunt96]

Ok, you told us what it is, how we got here and how bad it is, so where are the solutions?

[@GrantMcLeod-u2r]

Doctors would not like higher caps on Medicare costs, but as it is now, health care spending guarantees doctors make fortunes with the US government paying the bill. The US should have built medical schools in the 1960's to allow more doctors. But the AMA had a strangle hold on the number of doctors graduating each year. The US has filled the huge shortfall by importing 3rd world doctors. Medical costs are out of control ~

[@teresaalbin-davis4529]

Everything needs to take a cut, pull out of wars and supporting other countries, pay it down

[@chrisheller8305]

We'll experience hyperinflation at some point and that will force a default. It's going to be tough. People should look it up as it has happened in other countries.

[@WilliamB.-ij6gl]

Paul Ryan proposed a plan to reduce the debt over 8 years and was vilified, dismissed, and eventually not re-elected. Problem is human nature, especially in the U.S., when people are given gifts long enough, they eventually see it as their right to have this gift and will fight to keep it. It's essentially impossible to take benefits back so nothing will change

[@bjhellstrom1284]

Funny how long-term bond markets do not seem to be concerned about 5%, 6%, or 10% interest rates.

[@twhelostl61]

US Federal Income Taxes are vaporized. It has been that way since the Continental. The Treasury and the Fed do not borrow, and do not operate like a household. Find Richard Murphy a Brit. Richard Werner, a German. Both are completely transparent on global banking. Warren Mosler is a former Bond trader who is another source for the way it is. The term "Debt" primarily is associated with the US Treasury.

[@KidHorn7001]

One of the best things our government could do is find a way to reduce health care expenses. The US spends way more than any other country. Obamacare needs to be replaced. It was enacted to help the pharmaceutical industry. Who can afford to pay $15k/month for chemo drugs? The super rich and people with insurance. Make sure everyone has insurance, so everyone can afford the insanely overpriced drugs.

[@workdaytunes722]

If you feel the need to repeatedly say that 'this is not a political statement', then it is definitely a political statement.

[@Lion_McLionhead]

The only outcome is what Japan is doing, ZIRP, much higher inflation of asset prices & offsetting of high asset prices with falling manufacturing prices. We are getting some austerity in terms of keeping benefits constant amid rising prices & we're taxing more in terms of keeping some tax brackets constant. Hardly anyone is still eligible for a roth IRA & almost everyone is paying the NIIT.

[@Dinosoreass]

The "What happens instead" part was never answered.

[@3railmike713]

. It’s the printing and spending that’s the problem. The federal government is printing and spending nearly two trillion dollars a year. There are not enough corporations or people to tax to pay down this debt. Elon Musk even said our debt is the biggest threat to the US.

[@bjhellstrom1284]

Elon Musk's recent interest in US politics is more related to his concerns over proposals to tax unrealized CGs rather than solving the debt crisis. His only solution is to cut spending (read: social security and medicare) and to prevent tax increases on fantastically wealthy persons such as himself.

[@otbricki]

This is why we are going to have massive inflation. It is why you don't want to hold dollars. Real property, gold, stocks (minimize bonds).

[@davidfairchild1640]

​@@bjhellstrom1284do you want to pay taxes on your unrealized gains?

[@donmountford797]

​@davidfairchild1640 You missed their point. Musk is less interested in the good of the U.S. and more interested in his personal agenda. He was never into Republican politics until Biden had a "EV summit" and didn't invite Musk, Biden then signed a tax credit for EVs but structured it in a way that most Teslas don't qualify for the credit. Musk ever since then has been on his own personal agenda to help his ego and his bottom line.

[@davidfairchild1640]

@@donmountford797 so a Democrat POTUS puts forth a policy unfavorable to Tesla and you wonder why Musk would support the Republican candidate?

[@geo1134]

We all know politicians and the people who vote them in won't solve this problem . at some point investors will demand much higher interest rates and force government into austerity measures . Hopefully......

[@thetreekeeper143]

If the US is a debtor nation, how can it be a hegemony anymore?

[@KH-vw9yl]

Sad news to realize how far our country has fallen so deeply in so short a time

[@Agatha.wayne0]

A failing U.S. economy and elevated global tensions reduce the likelihood of prolonged inflation or higher long-term Treasury yields. I've seen folks amass up to $1m amid crisis, and even pull it off easily in a favorable economy. Unequivocally, the bubble/collapse is getting somebody somewhere rich

[@RicardaWindsheimer]

I do not disagree, there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors I speak from experience.

[@Lubumbemusongo]

I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.

[@seymorefact4333]

cuts in public service...police, schools, streets, etc.... fees increase. tax via inflation.

[@torchwood815]

Buy commodities, gold, bitcoin.

[@kaiman5307]

Did I spend the money?

[@bjhellstrom1284]

Your representatives in congress spent it for you. Did you vote for them?

[@kaiman5307]

@@bjhellstrom1284 of course not

[@Rainy_Day12234]

It took a hundred years for the Dollar to lose 99% of its value. It’ll lose 99% of the remaining value within the next generation. It happens slowly then all of a sudden.

[@lvlv1225]

They really should change the inheritance tax. Years ago when someone (wealthy person) died most of their money went back to the government. Now it goes to their heirs who don’t then need to work and are unproductive members of society.. we need productive members of society to keep going. And all that extra inheritance money back in society also raises inflation. Janet Yellen follows what Mosley’s ideas are.

[@davidfairchild1640]

So wealth is rented essentially? No thanks.

[@Jonahc-u6h]

Debt is actually a good thing for it helps corporations or banks that lend money to have a stake in the game. Even Hamilton knew that back in the 1800’s. Besides, inflation the past xxx years has taken debt down too.

[@davidfairchild1640]

Debt is up in nominal and real terms, and it has created asset bubbles that continue to widen the wealth gap between haves and have nots.

[@laundrygoddess4]

I'm appalled by the comments section. I'm not even American and I know more your finance system than some of you. Granted I work in finance but not in your country. Perhaps people should google before they spout nonsense

[@davidfairchild1640]

Examples please?

[@laundrygoddess4]

@@davidfairchild1640 there aren't that many comments... Go look. I'll give you a hint... Social security and all Americans pay their bills

[@davidfairchild1640]

​@@laundrygoddess4What about Social Security specifically?

[@laundrygoddess4]

@@sunmand6136 I've commented hard facts on others comments. Go look yourself or don't. I don't care.

[@sunmand6136]

If you don't care why did you reply to my comment, maybe because I spoke the truth ? So obviously you care. Either grow up or don't comment. And since it bothered you so much I deleted my comment, happy ? you little baby.

[@3railmike713]

I think the amount of money that leaves this country dwarfs what is spent on Medicare and Social Security.

[@laundrygoddess4]

In 2022, USA spent $188 per capita on foreign aid, $3647 per capita on social security, and $13494 on health care and Medicaid. Don't know why you guys are always thinking you help others more Than you do but hope that helps to clear up your misinformation

[@davidfairchild1640]

@@3railmike713 and you are completely wrong.

[@davidfairchild1640]

@@3railmike713 Social Security and Medicaid account for 2/3 of all Federal spending, so...

[@lvlv1225]

They can create a coin, give it a value and put it in the treasury . That is something they can do… it was put in the constitution or the Declaration of Independence for times like this. I can’t remember which one. That is the last thing they can do to ..if they do this we are really in trouble .

[@jonmurphy776]

There is $2 trillion in hard currency, $18 trillion in bank deposits! So how do you pay back $35 trillion with $20 trillion total cash right now!😂

[@ADobbin1]

I have news for you. Most of that 18 trillion in deposits is actually created by debt and is an iuo from the bank. The banks have leveraged those deposits to lend to others.

[@Mtnshell56]

I don't think you mentioned taxing the wealthy at a more fair rate or at least closing some of the loopholes.

[@reggie7716]

The wealthy pay the majority of taxes already. The problem is run away spending on excessive govt programs and foreign aid, defense is our highest expense and has been for decades. You can take every dime from the wealthy (however your define "the wealthy") and still have a huge and growing debt problem if the govt continues to spend money like a drunken sailor. The national debt is 35 trillion and growing, if you taxed all the billionaires in the country at a 100% tax rate you would still have trillions in debt.

[@laxnative4622]

I hate when people show the "debt per person". Much of the wealth in the world is owned by businesses. Apple is worth $3 trillion!

[@gregoryreis.63]

Who do you think owns apple stock?

[@navsofour2892]

You need a dozen Apples to pay it down, then you would be zero debt but no apples.

[@6toomany]

Just let me put my "social security" payments into my Roth and I'll handle it just fine.. I have no doubt the govt will "run out" of money the day after I retire.. Which is why that is not even a part of my planning calculation.. if there's anything coming from the SS .. it'll just be icing..

[@mikefranck829]

35 trillion can never be repaid. It numerically impossible. Spend the time to understand Bitcoin and how all fiat currencies eventually go to zero.

[@kestut]

Maybe a balanced budget amendment would help.

[@harism2001]

How the crooks stole all that money !!! Insane !!

[@patrickleatherman2685]

I think it's safe to say that billionaires in the USA have the most influence over our politicians, the direction in our country, and consequently the cost that we must bear as a result. There are 759 billionaires in the US. That means our debt of $35 trillion is only about 46 million a piece. Let them eat cake.

[@Twizzted]

Since corporations are human beings by law when it comes to the protections of the Constitution meant for human beings (Bill of Rights - thank you Supremes), why do we not include each corporation in the calculation of individual responsibility for paying the national debt down? Corporations are laughing all the way the bank, knowing they enjoy the benefits of personhood while avoiding many of the responsibilities of personhood. Three cheers for the corporate welfare built into the nation's unfettered capitalist economic system!

[@chris-st6sm]

corporations are not human beings. That's silly. google is a thing. you should look it up. search ideas (juristic person). once you get this sorted, maybe we can have an intelligent conversation without the hyperbole.

[@Columbus1152]

Until the early seventies, we couldn't just print more money.

[@davidfairchild1640]

Yes we could. FDR ended the gold standard domestically in 1933.

[@RogerZoul]

Nothing should be done to SS & medicare until the corporations are made to pay their fair share. Most of the money they are not paying is going directly into the pockets of CEOs. This has to be fixed before any changes are made to SS & medicare. This is what you should have been talking about in this video.

[@msisles6278]

What are you talking about, the employer pays 6.2% of SS, up to the cap. I pay $10k A year in SS tax, so does the employer. What is your definition of fair share?

[@RogerZoul]

@@msisles6278 Money comes in, money goes out. SS is part of what goes out. Most of taxes are paid my tax payers, but corporations pay way less. They need to pay the fair share in taxes do the revenues match the expenditures. This should be obvious.

[@recoveredconservative]

We owe a little more than 75% of that debt to ourselves--so let's not panic. We can pay down huge chunks when inflation is under control--as we've been a fiat economy for decades--a government is not the same as a household. No offense, Azul, but that's just silly. What household can print its own money? It sounds big and scary, but it's really nothing to worry about. It will have to be managed so that we don't inject too much into the economy to spike inflation, but if we wanted to, and thought it was prudent to do so, we could pay the debt off on Monday.

[@archers101pd7]

You are looking at 2022 data?

[@markphillips9822]

The USA will keep printing besides cutting back. Government both sides will keep spending

[@flea4061]

Finally someone who gets it. We are never paying that back. You know how it ends. The only question is will you be alive to see it? I hope not.

[@grantr7682]

Really old data, brother. Not trying to troll, BUT your net interest charts are 5 years behind chronologically and 10 years behind numerically.

[@patrickleatherman2685]

We can call it a provisional income tax.

[@zoomzoom3950]

one of the side benefits of retiring will be living on much less income, and paying less in taxes to the government. I plan to be in the 24% bracket or less. enjoy the decline

[@goldstandardaviation1667]

Taxing large corporations like we used to do will Make America Great Again

[@ReesesPieces81]

Yeah not sure why Azul doesn't mention it as a solution, it's pretty obvious.

[@markalexander832]

So do you think that taxing corporations will have no adverse effects on you and the US economy? US corporations are already taxed at a higher rate than the worldwide average. Corporate taxes reduce US competitiveness, decrease employment and those higher costs are paid by the consumers and employees. Such a lack of understanding of basic economics hurts us all through an incredibly costly, wasteful and perverse tax system when politicians cater to the ignorance of voters.

[@goldstandardaviation1667]

High corporate tax rates worked well for regular Americans in the 1950's and 1960's. The National debt was low and citizens were prosperous. This reversed when the rates were lowered. It is economic history.

[@davidfairchild1640]

What if I told you that taxes don't fund federal spending?

[@markalexander832]

@@goldstandardaviation1667 It worked in the '50s and '60s because the USA was the world's economic hegemon after World War II. Other large advanced economies were ruined by war. That is not the case today. Further economic history.

[@drumsnbass]

Corporations should pay ZERO taxes. Everything should be borne by the taxpayers so we’d really know what we’re paying.

[@Clarkssman]

You would be paying their share of the countries tax burden that's what you would be paying lol. I bet you travel to country clubs and hand out money to richest people you can find. lol

[@drumsnbass]

@@Clarkssman ok midwit. Corporate money goes mostly one of three ways: buybacks/expansion, dividends, payroll. Corporations have the ability to buy off Congress via lobbyists to reduce their taxes, or they relocate off shore accordingly. Meanwhile every western nation has payroll taxes. Individuals cannot lobby Congress for specific tax breaks or exemptions. So… if they don’t pay taxes, that money falls through to the categories listed. If Congress would outlaw buybacks, then corporations could only spend money on expansion or wages. And the wages then get taxed. I see you’re simply a first order thinker. No way to go through life. And buddy, you’d never find me at a country club.

[@buddykerr1]

I wouldn't worry about it. Powell can just lower interest rates to negative 3% then the treasury will earn a cool trillion dollars every year on the debt.

[@mdarifuzzaman746]

😅😅😅😅😅😅

[@navsofour2892]

Lol even was possible they would continue until it is -30%