Why Haven't We Had A Debt Crisis... Yet?

Video Description

The Billionaires' Resource Playbook → https://clickhubspot.com/42c657 ---- Sign up for our FREE newsletter! - https://www.compoundeddaily.com/ Books we recommend - https://www.howmoneyworkslibrary.com/ Listen on Spotify - https://open.spotify.com/show/5gi1JobDJC3QqaF4aKfenR?si=f3IsgWIlSKObF8BT1Fitig ----- My Other Channel: @HowMoneyWorksUncut @HowHistoryWorks Edited By: Svibe Multimedia Studio Music Courtesy of: Epidemic Sound Select Footage Courtesy of: Getty Images 📩 Business Inquiries ➡️ [email protected] Sign up for our newsletter https://compoundeddaily.com 👈 All materials in these videos are for educational purposes only and fall within the guidelines of fair use. No copyright infringement intended. This video does not provide investment or financial advice of any kind. #economy #debt #money ---- For as long as most of you have been alive, we have been told that federal debt is a major crisis just waiting to happen. For more than a quarter of a century at this point we have become very well acquainted with images of this debt clock, and the increasingly regular government shutdowns where they play hot potato with this ballooning hand grenade. If all of that wasn’t annoying enough there is almost the uniform flip flop between politicians taking turns to be very concerned about “fiscal responsibility” depending on if they are in or out of power at that time. t’s a powerful message… but they do seem to forget about it pretty quickly once they are in office and fixing it would require actual sacrifice, and if we are being honest with ourselves, it’s almost easy to see where this indifference is coming from. We were told we were at an inflection point when we crossed 10 trillion dollars in debt, and then 20 trillion, and now we are approaching 40 trillion dollars in total debt or 130% of our GDP… The rate in which we are taking on new debt is also accelerating, almost half of all of our outstanding borrowing has been done in just the last 6 years… and yet… on the surface, you would be forgiven for thinking… not much has changed… And I don’t just mean that in the sense of “why haven’t we turned into Greece yet?” because this also raises a more important question… the government has spent 15 trillion dollars more than it has brought in through taxes in just the last half decade alone… so why don’t we “feel” 15 trillion dollars richer? When will this debt, actually become a problem?