The National Debt: Last Week Tonight with John Oliver (HBO)
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The national debt has long been portrayed as a burden we’re placing on future generations. John Oliver discusses how national debt works, why people are so concerned about it, and why it might be more helpful that you think.
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komentāri
  • Richter12x2
    Richter12x2

    The fact is, if you give a rich person $1,000,000, they'll probably save/invest it, which doesn't help the economy much. If you give a poor person $1,000,000, they're more likely going to go buy a house and a car.

  • Richter12x2
    Richter12x2

    Look at the deficit by President and you'll see the real story. Democrats tend to be way better for the deficit than Republicans, who like to scream about it when Democrats run the country, and then give $4 Trillion in tax breaks to billionaire CEOs when it's their turn.

  • TY THE TRUTH
    TY THE TRUTH

    27million for George Kirby's family prolly not great spending Woke America! Not a Riot John it's a peaceful protest!

  • aenn aenn
    aenn aenn

    I can see how Palin would think debt = slavery, considering she's a Christian and slavery is an acceptable response to someone owing you money, according to the bible. But no good person thinks that.

  • Sic Semper Tyrannis VI
    Sic Semper Tyrannis VI

    'national debt' was forced on the people after the creation of the 'bank of england' and it has spread like cancer. 'thou shall lend to many nations..' 'rule over many nations' .. thats where your 'national debt' comes from

  • Justin Troup
    Justin Troup

    That dog thought the smoke bomb was a ball haha

  • John Doe
    John Doe

    Explaination.....the rich get richer and the money doesnt circulate. Boom! The central banks are also proping up the debt and cant afford to raise intrest rates. Thank god for bitcoin otherwise we would have nothing.

  • mslindqu
    mslindqu

    Wow.. Really missed a good opportunity here to educate people. Instead used it for propaganda to sell the current administration's agenda (not saying that agenda is good or bad)

  • 99beta
    99beta

    Government Debt to GDP ratio is a better measurement. In Canada between 1995-2008 government debt decreased from 83% to 44%. Because of COVID relief programs debt has increased to 50% of GDP. About 25% of the debt is owned by people outside of Canada. United States will have about 110% and Japan will be 170%.

  • Peter Campbell
    Peter Campbell

    Basic message here is to ignore debt, it does not matter....very much like Trudeau saying it will fix itself. This is basically a radical left wing diatribe to justify continued uncontrolled spending and money printing.

  • Rami Al-Jiab
    Rami Al-Jiab

    hi john oliver. I really enjoyed the debt episode. and i understood all the angels you took. from a western point who dont think twice on how they secure accommodation its a no brainer, you hit it bulls eye. i been living in western countries for most of my life but have NO or both liberal and or conservative bones in me since I am a Muslim. It doesnt matter who holds the debt, china, japan, liberals or conservatives, they share one commonality which forms a stronger bond for them than any of these labels, they are rich. rich holding the debt is not good not good for the poor no matter wat citizenship they hold. debt which i can be 100% sure in most cases means interest i.e increasing overtime is the reason for recesions, they form bubbles that burst and guess who they hurt exclusively? the poor. this is not me, some muslim on the interent, this is finincial scholars even though silenced still publish their work on this cancer in face of being cancelled by mr big coorape submissive to mr big bank look at the gamestop scenario, when non rich targeted hedge funds the betting companies went all out to stop legal bets. rich getting richer poor getting poorer. In islam a loan is interest free, profits for all cant exceed 30% and taxes are collected on non used assets monetary or not. if the world did that i assure you there will be no poor to rob. cos thats wat this interest game is. people running out of good spirits and hence ability to work for society, so they use mathmetics to make money. thats not a service, only right way to make money of science and maths is by doing research and or teaching people so it can enhance other services. would love it if you made an episode on interest and how its riuning society from the core. i seen u do some out of it episodes, thinking hes gonna get detsined after this, but will you go the extra mile, will you cut to the heart of the cartel or will those veins/emotions/stakes run too close to cut. do it, i dare you

  • Rigby Devos
    Rigby Devos

    Yeah..... modern monetary theory is basically just "yeah all those other countries suffered years of hyperinflation and decades of fallout from just printing money to cover their spending but it probably won't happen to us because america."

  • Michelle Browne
    Michelle Browne

    I've always wondered htf this works!

  • Happy Penguin
    Happy Penguin

    just print a bunch of money. then use that money to pay off our debtors. what could go wrong?

  • Jobestinna B
    Jobestinna B

    Thanks John Oliver for the simplistic definition/explanation of deficit & debt 3:12 👏🏽👏🏽

  • RL
    RL

    This video will age like milk, just like most of John Oliver's garbage material.

  • Anju Rama Krishnan
    Anju Rama Krishnan

    I wish John Oliver did a piece on how the Kardashian clan and the insta influencers are trying to set unattainable body images ( unless for a surgery, of course) and feed on teenage girls' insecurity and body issues. Please. I personally do not have body image issues. I am scared for my daughter, if I may have one one day and she falls prey to all that bull shit. I want to have a John Oliver video to show it to my daughter on that topic

  • rezox
    rezox

    So just cause republicans do it too is for some reason ok?? Both parties are the same shit, wake up people!!

  • Piyotr Bear
    Piyotr Bear

    So... basically John is saying: Fk it, we've gotten this far, no reason to change anything, we can just keep chugging along, free money bruh.

  • Penitent Hollow
    Penitent Hollow

    Obfuscated means hidden or obscured, so an obfuscated seam is a thing, but Ophisticated? I guess an attempt was made...

  • Essex Boys
    Essex Boys

    Can anyone explain how you can possibly print more money without causing inflation?

  • TheJimprez
    TheJimprez

    What National Debt? I hear the Republicans want to abolish taxes for ALL, not just for the rich. They say they can just PRINT money now.. NO debt. Just print some and pay it off.. LOL!!! Imagine when that haywire economy fails? For good!!!! All it needs for a final coup de grace is for a new international trade currency to be adopted. And THAT is coming really soon to an economic forum near you.. Like the year right after the end of the pandemic.. NOBODY wants to deal with the USA now if they don't REALLY have to. Except China, just because they have such a positive trade balance with the US that it made them RICHER than them in about 20 years.. ALL for 1$ a pop cheap stuff. As SOON as the US wants to try to bring it to a more neutral balance. China will dump them and the new currency will appear and EVERYONE will accept it.. Maybe China will dump all of the treasury bonds they buy to fake shoring up the US too, or ask for quick repayment of HUGE debts... US money is WORTHLESS in reality. Its just based on demand. NOTHING ELSE.. Kill the demand and the house of cards falls on itself. They DID t to themselves. And they have been warned about it by MANY economists and politicians with more vision than some.

  • Elizabeth Johnson
    Elizabeth Johnson

    What happened to comedy? This show was torturous to watch. He's an idiot

  • Veraciety
    Veraciety

    This is foolishness. Debt-to-GDP ratios have been found to have a substantial correlation with decreased fertility, decreased GDP growth, crowding out of private borrowing, and a host of other negative results for society. Just because both parties are bad with spending doesn't mean that we should all accept higher deficits and larger debts. This focus on what politicians say versus actual fact, evidence, and principle mixes a few cognitive biases - ad hominem, WYSIATS, and others. And just because something is said with a smug attitude doesn't make it true. $97,000 of total government debt for every American isn't fair. Total government spending at 37% of GDP is three times bigger than it was 100 years ago, and over ten times bigger than it was at the start of our nation, that is far too large. There is a reason why Paul Krugman observed "developed" nations grow at a slower rate than developing nations, and a large part of it has to do with this very fact of the ballooning size of government. Our country hasn't grown over 5% annually in over 20 years, this year might be the first in 20 due to the regression to the mean effect, but I expect inflation to take place, and that this will continue the decline of economic growth. Our country needs a movement back towards private action and private economics or we will find ourselves in a similar position to the former Roman Republic.

  • Corvette Stingray
    Corvette Stingray

    And OBTW, that last bit at the end with the kids, truly GOLD. Go John!

  • Corvette Stingray
    Corvette Stingray

    Thank you for this John Oliver. The reason Greece's financial problem was a crisis is because Greece is a currency user, not a currency issuer like the US Government is. Greece's situation was actually much more akin to what each of the 50 states (at least fiscally) go thru, because they are Currency Users, not Issuers. And the National Debt is not really (for the most part) a "debt" that has to be paid back, at least not in the commonly understood sense. Everyone please read "The Deficit Myth" by economist Stephanie Kelton (who once worked for the US Senate), which explains that deficits are actually good, when handled properly. A truly eye opening book.

  • Kid Mohair
    Kid Mohair

    and to no one's surprise (ef)Lying Ted Cruz is the epitome of duplicity, closely followed by the rest of the party formerly known as republican

    • Kid Mohair
      Kid Mohair

      oh yeah right...as far as debt goes, cuz that's ostensibly what this is about, debt is an invention, just like economic crises are, and is used as a cudgel by banks, to scare us... (unfortunately) I can point to what$i$name-the-twice-impeached as living proof of the above statement

  • Lukas GG
    Lukas GG

    Democrats and Republicans are equally irresponsible when it comes to the deficit.

    • mjceaser
      mjceaser

      That is the sad truth

  • Tamires Molin
    Tamires Molin

    América se fodeu

  • A E
    A E

    I walked past that debt clock every day on my way to work on Madison and 42nd.

  • themightykabool
    themightykabool

    Hold up. Accorsing to repubs - When the debt goes up because of spending on infrastructure = bad. But when the debt payments goes down because of tax cuts to big corp = good? On one side, Borrowing for litetal jobs creation = bad. While, Paying more interest for no jobs and no taxes revenue = good. Gotcha repubs.

  • Daniel Bienlien
    Daniel Bienlien

    What a joke. We know exactly why rates keep dropping. We've been in a deflationary cycle since the 80's and central banks (the FED) have continued to drop overnight funding rates and suppress long term rate by buying massive amounts of treasuries. This process can't continue forever, although there is some debate about that considering Europe's rates have gone negative. Since 2008 the FED funds rate has spent the majority of that time pegged near zero. If this deflationary cycle comes to an end and we start to see inflation the FED will be required to raise rates, THEN the debt will become a major problem.

  • Jesse Collin
    Jesse Collin

    So basically every single person in the country is $70,000 in debt.

  • denea smith
    denea smith

    I sure do like this show.

  • Donald Miller
    Donald Miller

    Price of goods has gone up double digits yet the Fed says no inflation.

  • Donald Miller
    Donald Miller

    Biden is beholden to China. BLM is a violent marxist terrorist group. ANTIFA is a violent anarchist terrorist group. Sovereignty is being lost with open borders. Federal dollars are pervasive to unemployment. Media and politicians are spreading race hate so we fight each other. Then they claim to be saving us.

  • Skip6235
    Skip6235

    It’s almost like. . .and stay with me here. . .all the republicans care about is gaining political advantage and nothing else

  • FanASStik
    FanASStik

    If you take any this shit seriously... You will remain poor.

  • Sheng Liwei
    Sheng Liwei

    I give an explanation, supply and demand. There is more supply of money that can be borrowed than the money borrowed, so the interest lowers. The money borrowed is a big number, but the money can be borrowed is infinity, at least those form FED is unlimited. With a few strokes of typing on computer, you can have the money to borrow.

  • Conner Powers
    Conner Powers

    Very good points. But at some point not taking on more debt needs to happen. But that is no where in sight. Bad times take on more debt, good times take on more debt. And the investments are. It existent. The reason companies buy back stock is because investing in their business capital brings no return because there is no avenue for growth. It is all financial engineering

  • Sheng Liwei
    Sheng Liwei

    But most will gladly accept the checks.

  • Yash Arya
    Yash Arya

    There's so much wrong with this video. Yes, Republicans haven't been any better than Democrats on this issue. But that doesn't mean they're both right, they're both wrong. If you liked this video and have never studied Economics, please read Economics in One Lesson by Henry Hazlitt. If you disagree with some things after that, that's a longer discussion. But you'll make much better arguments.

  • Arian Lopez
    Arian Lopez

    I'm sorry... but the way the show presents the concept of debt is bordering a dangerous explaination and makes it confusing for people that have little, to none, knowledge of financial or economical concepts. The first thing everyone needs to understand is, the structure and functioning of debt when it comes to the government, works totally differently than how it works for everyone else. You, me, business, local governments, etc. There is no way the Federal Government runs an unbalanced budget EVER; why? simple, they only have to print the money they need and that's it. Now, to give the idea to people that debt is not such a dangerous issue, combined with the fact that how it is presented in the show, combine with what I mentioned before about most people's lack of understanding (that it doesn't work the same for everyone) is irresponsible. Because it encourages this fantasy that there is always time or a way to get off from it even for you as a private citizen, which is what in fact, the essential cause of debt or credit crisis every time that it happens. Also, it is presented Greece as an example that there were no riots in the US despite the current situation and that somehow there is no indicator on why. Ignoring completely the real reasons. Which one? Well, the fact that Greece cannot print their own money as we do. They have to borrow it from the European Central Bank, which holds any funds until the country does whatever they think is proper. And that's what caused the protests. In the USA we don't depend on a central bank to which we have to ask for money and close our fingers until they give us the money. The central bank is basically the government and Congress, which only need to decide they need to print the money and that's it. Also, they only trash politicians from the Republican side without eve mentioning that the Democrats supported the debt and credit expansion from the very beginning of the 2000s, which was the main cause of the crash of '08. ON top of that, the show mentions Reagan as a negative figure from the 80s that tripled the national debt for no reason or because of ignorance. When it fact, the reason why it had to be done, is because the Cold War was in motion, and pushing the financial debt of the country was the best we could do in order to contribute to the collapse of the USSR from the military and economical stand point. There are far many things in the program that are no explained, either because it is not in the interest of the show to mention them or because of general ignorance, but the information, causes, data, etc, are really out there and accessible for everyone to check. If you are really serious about the debt issue, and like me, do not care if the Dems or the Reps will solve the issue, but to really have a solution in place, then please start reading or checking videos where Milton Fredman explains concepts like inflation, debt, etc. It will help you to watch these shows from the right optic and without falling for the fallacy of leaning with or against one politician or party.

  • dieyng
    dieyng

    The whole problem of trickle-down economics, rich people don't spend the money they get, if they did, they wouldn't get richer and richer and fucking richer. Study after study has shown that giving money to poorer people results in them spending the money, thereby boosting the economy, whereas tax cuts for the rich or subsidizing big companies with massive amounts of money leads only to more money in rich people's bank accounts.

  • nia Roma
    nia Roma

    In teory the gouverment must debt somewhere , so who gives that borrow ?? , cause you can't pay yourself an own debt if you don't take from somewhere money , if you produce money to borrow yourself that's inflation . If no one gets payed back why would he borrow the state ? That's a true lie of hiding the real problem of U.S.A . Where the goverment takes money as borrow from ? Who own the U.S.A debt ?

  • fredvultor
    fredvultor

    All countries had this decrease, it's not related to american debt.

  • Allagí
    Allagí

    Republicans: "We need to balance the budget and reduce our national debt!" Also Republicans: "Let's sign a $686.1 billion dollar defense budget bill, more than the next 10 countries combined."

  • Slakjaw Notsayin
    Slakjaw Notsayin

    I totally remember that commercial with the baby being told it owes $50k LOL

  • renragged
    renragged

    Debt sucks. Just a little more than John Oliver's dumb opinions.

  • Tony Bensley
    Tony Bensley

    That last line "Grow the f**k up!" I so LOVE it, LOL!! CHEERS!

  • Dylan N
    Dylan N

    Gosh American politics has so mucb hatred. Why can't they both want to help everyone at a basic level...

  • Rowan
    Rowan

    "Start something he doesn't finish" 🤣

  • Esei Teclemariam
    Esei Teclemariam

    John Oliver, the interest rate on our debt kept decreasing because the Federal Reserve is buying majority of debt issued by the Treasury. Where does the Fed gets its money to buy all this debt? Simple, they print out money out of thin air. If the Fed stopped buying US debt, then the interest on our debt would increase.

  • Julio Saravia
    Julio Saravia

    If you don't think debt is modern day slavery you are an idiot! Our current debt system is literally designed to maintain us slaves to our masters (employers). An indebted employee doesn't have options, and must obey.

    • A OConnor
      A OConnor

      Wages are slavery

  • Freedom First
    Freedom First

    The republicans are masters of spin and they killed and buried the word and meaning of hypocricy a long time ago.

  • Ralph Wiggam
    Ralph Wiggam

    This was nothing but the most insidiious, wiicked propagandda imaginable ... and the low-informatiion public will eat it up :(

  • T5 5
    T5 5

    god forbid you use it to improve education, if those kids could count...

    • Ralph Wiggam
      Ralph Wiggam

      @A OConnor Lol what a dullard. You can't spell things correctly here. There is no freee-speechh on this site. You have to spell things incorrectly ON PURPOSE to avoid the algorythmns auto-deleting your comments lol :P Where have you been? Under a rockk lol? :)

    • A OConnor
      A OConnor

      @Ralph Wiggam not going to even begin to listen to someone with as atrocious spelling as you.

    • Dewaldt
      Dewaldt

      @Max the % of GDP spent doesn't matter. Japan spends 3,2 % of its gdp on education, yet its ranked 15th (above the US). Swaziland spends 7,1 % of GDP on education and its ranked below the us.

    • Max
      Max

      @Ralph Wiggam completely untrue US spends the most because it’s the biggest economy with the most students however it only spends 5% of it’s GDP on education which is 66th out of all countries

    • Max
      Max

      @Dewaldt completely untrue US spends the most because it’s the biggest economy with the most students however it only spends 5% of it’s GDP on education which is 66th out of all countries

  • Ralph Wiggam
    Ralph Wiggam

    MILLIONS of dollars to FOREIGN "ghender programs" very much IS "throwing away money" you LYYING FRAWD!!!

    • A OConnor
      A OConnor

      LEARN TO SPELL.

  • MasterPoppers
    MasterPoppers

    Republicans complaining about the debt will never not be cringeworthy. Motherf*ckers, most of this is on you!

    • Ralph Wiggam
      Ralph Wiggam

      @MasterPoppers Lies. Big corporations wanted jo in because they knew he would disproportionately help them more than the eviil orhange mhan ... wake up.

    • MasterPoppers
      MasterPoppers

      @Ralph Wiggam This has zero to do with what I said.

    • Ralph Wiggam
      Ralph Wiggam

      Jo got FIVE TIMES more donatiions from Wall Street and big business than the eviil orange mhan ... why do you think that is lol? :)

  • Creating Creations
    Creating Creations

    At this point, propaganda like this is making me so much money that my greed makes me want to agree with the this foolishness. But I do feel so bad for those younger than me, as this will crash and they won't have gotten to ride the wave up.

  • Sticky Griddle
    Sticky Griddle

    Endless wars=more debt

    • Dewaldt
      Dewaldt

      That and entitlement spending.

    • Ralph Wiggam
      Ralph Wiggam

      "America is back" ...

  • Mark Plain
    Mark Plain

    increase taxes = rich people leaving the country. If that is true, please show them the door. If they want to participate in the world's biggest economy they should pay house fees. If they don't want to pay house fees then they should not participate.

    • Dewaldt
      Dewaldt

      You do if the rich leave, the us stops being the biggest economy.

    • Ralph Wiggam
      Ralph Wiggam

      Liies. Big corporatiions and the riich will NEVER pay more taxes. The Middle Class will have to bare the brunt of the tax burden ... this is ALL by design :(

  • Cliff Nickerson
    Cliff Nickerson

    According to the urn, John Oliver died on the 20th of March, 2021. This episode lauched on the 5th of April. We've had one a week since then. Yeah, they might have put some in the can, but it's a current events show. So who is the guy now pretending to be John Oliver?????

  • Brent Senior
    Brent Senior

    I wasnt really sure how much 28 trillion dollars was until he said a fuck ton of money. Oh shit murica is fucked

  • trevorj79
    trevorj79

    I would care a lot more about (R) opinions if they didn’t ONLY care about the National Debt when there’s a (D) in the White House

  • Jordan Reid
    Jordan Reid

    They can just take some more money from poor countries and pay it off

  • JordanFromCan
    JordanFromCan

    Non-economist here, but gonna take a stab at that rising debt vs lower interest correlation. Two Big reasons: 1. As mentioned, lack of capital intensive alternatives. 2. Investor confidence, in the ability of a country to repay their debt, uses the US as a benchmark. This means the US borrowing rate will always be cheaper than Greece. The feedback loop of a rising interest rate and what that can do to the household-debt-to-income(HD2I) had a "stress test" in 2008 which didn't end well. The fallout of that has been an ultra-low interest environment until the HD2I is better balanced. Funny thing is... People are smart and know that it's okay to borrow against their home when interest rates are this low. So until 1 of these 2 things breaks (capital intensive excursions like a space-race in mining asteroids/colonizing Mars, or the greenback is no longer a benchmark).... then this is the new normal. Low interest debts are okay, and if your return on investment can outpace your debt servicing costs....then accumulating that debt is encouraged.

  • Marc-André Belleau
    Marc-André Belleau

    You keep you videos blocked in other country and we'll keep not watching them. By the time Canada can watch them, the news is outdated.

  • FanASStik
    FanASStik

    You should see the Canadian budget. If it were even possible it is even more reckless.

  • Riley Maier
    Riley Maier

    Scary number lol

  • Deea Clonda
    Deea Clonda

    The last part is my favorite thing on LV-home

  • gardnerbickford
    gardnerbickford

    I love you John Oliver. Your videos are so important. This one won't age well. It felt like you took a math problem and made it a partisan issue.

  • Scotty Don’t
    Scotty Don’t

    Why are treasuries viewed as the safest investment despite the debt being such a problem? Doesn’t add up.

    • Mythyc
      Mythyc

      This whole point of this video was about how debt isn't such a big problem. So by it's logic it does add up...

  • Dolly Woofwoofer
    Dolly Woofwoofer

    actually taking money to build a factory is cringe and disgusting capitalism that forces slaves to do all the work. working period is just stupid and cringe. all work is slavery. we must abolish work, only then will socialism truly rise.

  • shoey977
    shoey977

    The main problem with the national debt is not the size of it but the fact that it's such a poor return on capital. It's not a matter of "building a factory" that produces goods or services....that's probably a good use of capital, however 90% of the money spent is not spent like that.

  • Shawn A
    Shawn A

    What people don’t understand is that that will go up

  • VillainousMuse
    VillainousMuse

    Jesus fuck America, there are people in your country competing for "The wealthiest men alive" and "grossly overpaid CEOs". That's where the money has all gone, take it from them.

  • Skylar Miles
    Skylar Miles

    It’s funny how now that it’s Democrat’s wanting to spend money that it’s being presented as a good thing, and yet Trump was excoriated on this program for the exact same thing

  • Skylar Miles
    Skylar Miles

    Social programs increasing the debt is not a sign of them working, it’s a sign we can’t pay for them. It’s simply politicians with an unlimited credit card giving out stuff in exchange for votes now with no regard for the future people who have to pay the bill. I’m not saying we don’t need Medicare, but the current payment plan is not working.

  • Code Exodus
    Code Exodus

    I'd like to sue the politicians that have taken years off my life with that fear mongering crap.

  • Alex Bohr
    Alex Bohr

    I wonder who feeds this guy his views

  • Graham X
    Graham X

    This video provides a somewhat accurate overall but is missing many valuable details that allow people to have a much more informed opinion. But hey, it's a comedy news show intended more to introduce topics than fully explain them. There are many excellent economics channels on LV-home that people should follow up with. Maybe start with the channel Economics Explained as an entertaining intro. One thing I do wish he had highlighted a bit better is that with interest rates at such historic lows, if they went up by only a couple of percentage points it would have a massive impact on the nations ability to service the debt. Probably beyond the scope of the video, but it's also important to note that the US is definitely far less impacted by debt than other countries due to the US dollar's status as the world's reserve currency and the fact that US citizens/companies own a large percentage of the world's assets. A country like Greece, which doesn't even control it's own currency (the Euro) is in a completely different situation regardless of relative debt levels. Also, it is kind of incorrect to say that economists don't know why interest rates have trended lower (and have been for hundreds of years BTW). It's more that there is no consensus on which factors had the greatest impact and even more that they don't know where things will end up. Rates have been at around 0% for a while now and a small number of countries have had negative interest rates for years.

  • Jankon Betoni
    Jankon Betoni

    So nobody knows why intrest rates are so low? Really? Excuse me but don't Central Banks have things such as Intrest Rate Goals and Quanative Easing? It's almost like Central banks are buing government bonds from private investors to make government bonds a risk-free investment.

  • The Church of Flarisu
    The Church of Flarisu

    boy he's going to look real stupid when people in 2023 look back at this video. More so than usual.

  • Mike Landry
    Mike Landry

    This dude is so liberal, he's become self aware of his ridiculous takes.

  • First Name
    First Name

    Sadly the majority of this video is jokes and not knowledge. The debt is one thing, inflation is another. There were riots in Greece because once they couldn't get any foreign investment and they instead had to tax the hell out of their own citizens in order to get money. Stop listening to actors. They literally get payed to say things that other people write, the fact that you sheep buy into people like this is crazy.

  • Jesus Impersonator
    Jesus Impersonator

    14:40 dog just looks happy to be there

  • Mordicus 420
    Mordicus 420

    No Republicans can seriously talk about debt deficit after the tax cut

  • Jason Pandolfi
    Jason Pandolfi

    Who is the world in debt too?

  • SpeedingOffence
    SpeedingOffence

    Way to pick the one economist that doesn't know why interest rates are so low. When the economy picks back up, that interest rate will skyrocket, the deficit will go with it, and we won't have pandemic induced deflation to print money against.

  • T N
    T N

    How does LWT find such incredible child actors??

  • Patrick Jones
    Patrick Jones

    The fucking hypocrisy of the republicans using the idea that we are destroying our children's future by not eliminating the national debt while they completely ignore climate change which is ACTUALLY DOING THAT. Fucking monsters.

  • Ryan E
    Ryan E

    ok so borrowing money is fine... I understand that, but when you "print" 30% of all US Fiat that has ever been made in 1 year than you might have a problem...

  • Yanick Desforges
    Yanick Desforges

    What we need to keep in mind is that money ISN'T REAL. I know, its probably came out as a very radical idea, but we invented money. It's a pretty good tool, but if I have to choose between people life and the monetary system, I say that the choice is easy. The real problem is that fuckers who have money right now will NEVER accept that we reset the clock. Even if we face inevitable destruction, they think that the reconnaissance of their "really hard work" worth more than the welfare of their fellow human.

    • Krystal Myth
      Krystal Myth

      Easy for you to say when it isn't your money. But if I could borrow a few hundred bucks, I promise I'll pay you back.

  • Jacob Gunter
    Jacob Gunter

    I’ve got a probably stupid question. If China is one of the largest buyers of debt in the world, could all of the countries that borrowed money/is indebted to China just all agree that they don’t have to pay them back?

  • Inderjit Singh
    Inderjit Singh

    debt to build the country is good. debt to give tax cuts to the rich is not good. fk the cons

  • Coconut
    Coconut

    If I ever come close to hating someone, just know that Ted Cruz is at the top of my list.

  • MrG0TH1ER
    MrG0TH1ER

    Lets save money and reduce the military budget. Oh no republicans want to do that? How strange.

  • ryan withyman
    ryan withyman

    Wow just wow - this is such a shit video - John your not only wrong your dangerous and spouting MMT. Do yourselfs a favor and ignore this video and watch Ray Dalio explanation of how the monetary system works. Tax cuts for the rich have nothing to do with taking on tons of debt - and the debt we have taken on has supported the fortune 500 and 1% not the tax payers. I can't believe this was allowed to air. Stop asking economist and start asking historians: they'll tell you exactly what happens when societies take on to much debt and collapse.

    • ryan withyman
      ryan withyman

      @Spitfire I never said don't raise taxes. Yes do it, but it only works to a point - fiscal responsibility is the corner stone of sound economics and cost benefit analysis is what grounds it. I agree in investing in national childcare programs that save long term prison and judicial cost, invest in hospitals, invest in NASA where you get return on patents, paid sick leave, paid maternity, and universal healthcare. But that's not what this video is about. This video is peak delusion of MMT on steroids. Raising taxes and investing in social safety nets that lower long term cost is prudent economics and reduces the debt which key. Again where does he say that I'm this video? And further: debts are both assets and liabilities and when they become liabilities that can't be paid were all fucked! If you have a ton of money you owe and pay low interest on it and the rate goes up and now that debt is worth alot more in interest and way more than tax roll them your fucked. I would have thought your country would be familiar with this concept having dealt with a subprime mortgage crises. Oh wait wait I forgot the billionaires were bailed out and nothing was allowed to collapse - and this guy is arguing more should have been spent what a yuts! Lastly: and I'm going to bold this AN ECONOMY THAT CLAIMS TO HAVE A BULL MARKET DOES NEED QE AND LOW INTEREST RATES. John Oliver saying the economist were wrong is blatant lie - they know full well what's going on.

    • Spitfire
      Spitfire

      Another way to think of this, since you seem to need help, is home equity. When you purchase a good, inflation drives it's value up. So this actually gives incentive to spending as much as you can at any given moment on permanent assets. Infrastructure and investment into your population is such an investment.

    • Spitfire
      Spitfire

      Eh, you really think that's the case? Okay, think of this, lets say that the workers are the ones that continue to hold the burden for tax, and corporations evade it and financial services drive inflation through interest on that same working class. Their growth is slower, so the money doesn't go as far. This increases the value of physical assets (which those large corporations are investing in, and dumping money into imaginary systems to also drive growth through the volume of funds dumped into a system instead of merit) and decreasing the purchasing power of it's citizens. Next, read your ending statement again. You outright stated that the top 1% benefits from the debt more than the rest, which could be recouped by... fucking taxes. Fucking wow man, not sure how you think you understand anything.

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      dave smith

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