How is it somehow ‘better’ if the government defaults on its citizens as opposed to, say, banks?

Congratulations! To the United States Govt. for just accumulating
$18 Trillion in debt! But no worries let’s look at some
of the biggest reasons why

YOU DON’T NEED TO WORRY ABOUT IT

THEY CAN GET IT UNDER CONTROL

What a massive lie.
Politicians have been saying this for
decades.
The last time
the US debt

ACTUALLY DECREASED WAS

FACT 1

FACT: the last several years the US government has been spent 90% of tax revenue just ot pay for
mandatory entitlement programs and interest on the debt.

FACT 2

The federal government owes this money

THIS IS PROBABLY THE BIGGEST LIE OF ALL

Two of the Social Security trust funds
alone own $2.72 trillion of US debt.

How is it somehow ‘better’ if the government defaults on
its citizens as opposed to, say, banks?

FACT 3

No they can’t

Just look at the numbers

Since the end of World War II, US government tax revenue has consistently been roughly 17% of GDP.

They can raise tax rates, but it doesn’t move the needle in terms of revenue as a percentage of GDP.

This isn’t about any single person or President.

This isn’t about any single person or President.

The problem is with the system itself.

But again, please tell me

who is the world in debt to?

Narrated from words of Chris Winters

PRODUCED BY

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