U.S. national debt surpasses $35 trillion: What can be done to stop the rise?
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- Опубликовано: 16 сен 2024
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The U.S. government debt has skyrocketed to an unprecedented $35 trillion, up from $4.4 trillion 30 years ago, and continues to rise. In early August, concerns over a possible U.S. recession shook markets across the world. What's behind the ballooning U.S. national debt? Has Washington not been taking the issue seriously? And what does the rising U.S. debt mean for the world economy?
Guests in this edition of Dialogue are Anthony Chan, former chief economist for JPMorgan Chase;
Brandon Andrews, former Hill staffer and entrepreneur;
and Hong Hao, chief economist of GROW Investment Group.
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Invest judiciously, keep a stop loss figure. Shuffle between debt and equity wherever the ratio goes too off your target. As for the target, I recommend a Ratio like this Debt % should be equal to your age in years. If you are 20, debt is 20%, reset in equity. If the market falls or rises drastically, your debt % will change, which you should rebalance to 20% and bring back equity to 80%. Thus you would have bought low or booked profit depending on if it was a crash or a bull run.
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What can be done to stop the rise?
Print more toilet papers.
Nah its just accelerate the inflation. Nobody want absorb those toilet paper anymore.
All that can be done is point and laugh at the stupidity of US leadership.
You are dead wrong. Would you stop printing if you can buy gold with paper?. That's right. You got it.
Powers corrupt and absolute power corrupts absolutely.
@@James-mc5hcoh yes, every country should do the same. Oh right, none would do so because every one else is stupid! USA is the only Smart One, Right! 🤑LOL
The clowns at work.
Why considering 85% of the debt is inside of the US not to other countries.
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Not only nothing will be done but they will continue to keep doing it as if nothing has happened.
Its was only last year it was 31T in debt.
Today its 35T.
Next year, its no more Biden's problem.
Something really has happened since 2017 after Trump came to the Oval Office, and when Sleepy JOE entered the OVal Office America's economy and financial situation is on ICU mode. Thus, whoever becomes the #47 POTUS he/she is going to manage America in a multi-polar global order, or risks WW3 in order to MAGA.
@@thulomanchay It was never Biden's problem because he is too senile to comprehend the state of the nation's problems.
@@thulomanchay32
Congrats to US
2.5 billion dollars per day in interest payments just to keep the facade going. Keep on kicking the can down the road and reach newer heights soon US 👍😁
@@sammygit9486 keep it coming 🤓😂😀🤪😁
@@sammygit9486never forget we will remain the dominant power in the world or you know what's going to happen.
Consume less, work harder, save more.....repay all debts!
The days of printing fait money to support the USA are OVER!
Sell Alaska to China for USD 3 trillion.
like telling a homeless aging obese heroin addict to lose weight and stop drugs!
Why do people keep lying to yourself?
And stop war
@@TacticalMayo
Not sure what you means.
If you are implying that the Americans are lying to themselves, this could be due to ignorance of world's events, being not willing to travel outside USA to see the real world for themselves.
The US does not have a long-term government so there are no long term solution.
You keep forgetting everything's going to come to a close real soon in the future with China in the US. Oh yeah, it's guaranteed nothing's going to stop it.
it is a concern not only for US citizens
but for the global world, the US is throwing its inflation to other countries
I don't quite understand how US bankruptcy could impact the whole world and what do you mean US is throwing it's inflation to the other countries? No offence meant. I'm just simply asking. 😁😁😁
@@雪花冰玉-xuehuabingyuWatch some shows from Michael Hudson, Richard Wolff, Radhika Desai, Ben Norton, etc that DARE talk about IMF loans & USA domestic monetary policy 👀
It's almost completely only to the US citizen.
@@雪花冰玉-xuehuabingyuwell it vessel states are hurting from it (coughing) Japan and others ( coughing).
@@雪花冰玉-xuehuabingyuI'm asking you , why did the US housing market called the subprime affected the whole world in 2008?
I can think of roughly $1 trillion per year to cut out of the budget immediately for an industry that only causes death and destruction.
Do that and you will immediately see Taiwan and South Korea invaded, and the Baltics invaded.
When the Dollar dies , the nation dies along with it
I'd like to see that. 😁😁😁
And the world will breathe a sigh of relief. Some peace at last
And the entire planet when the elites push the button.
@@sammygit9486The world will go with them. You have no idea how the United States is but you will very soon.
@monipenny408well on United States social media 🤣 but trust me the day the United States goes. So does everybody else.
Do nothing. "when the enemy is making a mistake, don't disturb him". And keep selling ŰŠ bonds. Bonds = bondages...
Yeesh talk about peanut brain.
Can always offer helpful free advice that you already know will be ignored and don't do anything that goes against your own core long term interests - no matter how many visits you're paid 👋
@@RaymondLi604 dude. The ŰȘ and west doesn't care about the history culture or the people of the country that they are going to invade. They apply the same formula.
The US spent USD4-6 trillion in the wars of Iraq and Afghanistan and post war expenditure. However such expenditure is no concern to the politicians in the Capitol Hill as they just ask the Fed to print more money to cover additional budget in future years. The politicians said war makes money for the MIC and the politicians, peace does not make money. Now they want to spend another 2-3 trillion USD to cripple Russian economy in the Ukraine war for the next 10-20 years.
Next 20 years. Oh no, in the next 5 years it's all over. Everything will come to an end.
Russia has gotten stronger only the EU is feeling the pain. Besides no other country wants US paper money except Americans. The last three release of US tresuries have been a dismal failure as they know the US paper is backed by nothing. Washington is concerned as they have printed so much money since Bretton Woods in the 70s that they know there's not enough gold in the USA if people present their $US dollars for gold. Countries from Japan China and Saudi Arabia are quickly and quietly dumping US bonds as fast as possible.
China bailed out the USA in the 2008 GFC when USA was friendlier to China but today who has the capacity or inclination to help them out today? Washington has isolated the USA with their arrogance, a weaponised dollar and a lack of diplomacy.
Increase tax collection, reduce military expenses, increase exports, reduce expenses.
Nothing can be done, regardless who is in power.
Who says the US is going to repay its debts? 😂😂😂😂😂
Defaulting would be even worse for them. They would be Argentina 2.0 😂
I had that thought once, you know. I thought US might cheat and never repay those debts. 🤣🤣🤣
I’d like to see who thinks they got the stones to try and collect. 💀
Simple. Closed down all overseas military bases, raise corporate and personal taxes to 50% for the rich, stop all social security checks and programs, sell land and assets, stop military aid overseas etc. Lest than 10 years and all the deficit will be repaid.
But what about Israel. 60 billion dollars taxpayers money they want every year from America to protect themselves
L’amerique ne peut pas vivre sans les guerres, les sanctions, les manipulations, les mensonges,…………😮😮
Neh, Set Federal military spending to $0 and let the individual States fund their own military expenditure.
Consolidate all Social Security down to one Basic Income. Remove the Minimum Wage. Set the Maximum Wage to $1,000,000 USD per year.
@@Stoi123- Sensible suggestions, instead of flippant remarks being purveyed.
@@dilippatel1590 isolationism and protectionism. Remove any incentive to invest outside the USA, stop wasting money protecting idiots from their enemies
American naive mentality.
The likely incoming president said,he will use virtual currency to settle US debts.
He thought the world out there is suckers, currents present system of paying printed money is bad .
Trump election campaign promise: buy Bitcoin as reserve.
Naive? you're the one thinking that due to what Russia has or anybody else has, you're going to have a world where the US will no longer be top dog and it will accept. Oh no, nobody no no no you'll get something else. Something you don't want something that will shock you that they did it.
China🇨🇳🇧🇩❤️
USA 🇺🇸
@@TacticalMayo USA is present but china is future 🇨🇳
Cut war spending drastically, problem solved.
@monipenny408 but it's all on the tax dollar plus recent fighting is not a good advert for usa weapons.
You forgot about the big one that's coming. You know that nothing's going to stop it. You can't ignore it. You can't even prevent it. You just got to accept and enjoy the show.
@@sislater6334wrong.... they are destroyed by medical subsidies and Social securities, ages of unsustainable growth come crashing down...
USA have a lot of entitlements like social security. Good luck trying to cut back spending. The system may just collapse.
😂 they're not at war 😂
As a US citizen I had anything to do with it, when only party running the country was the damn Uni-party!
no hope
I don't care about US would go bankrupt or not. I only pity that China would lose their money that US owe debt to China if US goes bankrupt. (US debt to China) USD 749 billion isn't a small amount.
@@雪花冰玉-xuehuabingyu This is the reason why China has been in recent times, selling off their holdings of U.S. treasury bonds (U.S. debts) in exchange for gold. While China used to be the top holder of U.S. debt, she has today fallen down to third or fourth place in the world while other countries like the U.K. and Japan has taken over the top spot.
@@user-sf1nq9uj7p In my opinion, I think China fell down to 3rd or 4th place is good. The less debt US owe to China, the better for China, just in case US goes bankrupt.
@@雪花冰玉-xuehuabingyu China has a bank account at the US Federal reserve bank. When China does trade with the US, they earn dollars which are credited to their bank account. They can spend that money, exchange it for other currency, or they can buy US Treasury bonds aka debt. When they buy US debt/Treasury bonds, the Federal reserve will debit Chinas checking account at the Federal reserve and credit Chinas savings account. When the Treasury bond matures, the money is debited from the savings account and credited back to the checking account along with the interest payment. Why would the US not be able to do this forever? is the person debiting and crediting bank accounts going to lose their fingers and not be able to type anymore? and then poof! the US is bankrupt?
@@henrygustav7948 Everything can happen. Whether it will happen or not, only time will tell. We'll just have to wait and see.
Avoid the insolvency country like a plaguel do not waste investing there.
America really shows how important it is for average citizens to have at least a foundation in the philosophies behind economic policies.
Otherwise people in power can not be held accountable and you end up in the position the US is now. Spending a trillion in just servicing the interest of the debt.
The US has become a very interesting and very scary movement in the world in my lifetime. Its model of economies combined with its laws has empowered the most capable amongst those that are most morally corrupt and it's very scary.
Meanwhile its people more passionate about debating gender than actually holding its most powerful accountable.
Personally I hope the US dollar truly collapses as that would remove a lot of the corruption it has created. Of course the most powerful will just benefit from this but that is pretty much always the case in situations like this.
Ohh well the sooner they run out of money to wage their pointless wars the better...
can't turn back now, continue the monetary easing and let the next generation deal with it.
Next generation? Dude, China challenged the United States global dominance. There will be no next generation.
Japan national debt also surpassed 1311, 00 trillion yen ($9 trillion). But yen weaken in this year especially...)Regardless of how bad it gets the economy, I still make over $28K every single week. I truly value Lia Lorenzo and her helpful guides.
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She is always active on wats apk👎👎
Keep on printing!
Buy gold and silver (or should have many years ago). The debt can never be repaid and has to be inflated away.
In China i trust for peace and security
China can be said as the safest place to live in unlike UK, US (where you have to afraid when to get stab or shot at every day), India (where you have to worry about getting rape and killed if you're woman), Thailand (where you have to worry if your kids might touch the drugs) and the list goes on.
Oh China guarantees that's the one thing you're never going to have now. The moment China challenged the United States willingly or unwillingly for their economic dominance. You have sealed the deal for all life on Earth.
@@雪花冰玉-xuehuabingyubut yet you still come on our social media under a VPN because it's illegal in China due to their firewall LOL. Oh My God, the hypocrisy 🤣
@@TacticalMayo Nice try. 🤣🤣🤣 But I'm going to disappoint you. No, you're wrong. Currently, I'm living in Myanmar, not China. So, no VPN is need to use this RUclips. And you think I want to use this RUclips so much, huh? I'm here for you people. And the reason I get into this matter because I don't like Chinese people are being cornered and abused by the West. Hence, I'm defending China because I'm also an oversea Chinese.
@@TacticalMayo Nice try. But I'm not living in China. So, no VPN is need to access RUclips. Pity that you only know Chinese people are only living in China. There are some of us called overseas Chinese.
As for people living in China, they have their own services. They don't need to rely on American services. Only countries who can't make their own social networks rely on the other countries' services. China has everything they need on their own. This is why China was the only country that had littler impact (or no impact at all) when Microsoft Windows encountered blue screen error because of an update a few weeks ago. China doesn't need to rely on American services is something you have to be proud of. Next time, learn first before you talk.
Print more
kick out old dollar, support new global yuan currency
That's a plan though. I just hope if it's implemented, Yuan wouldn't become the second USD.
Stop all damm civil wars and learn to cooperate and share knowledge to improve infrastructure and better educations for future generations.
the only way to get get rid of the 35+trillion US debt is to go into extreme hyperinflation like the Weimar 1930s Germany.. a few years will do.. 1million$ for a cup of coffee.. 36trillion$ will buy a house.. by then no more debt..
And can you guarantee that people in the country can easily pass the day if you do that? Here in Myanmar, local exchange rate for 1 US Dollar is 6500 MMK (Myanmar Kyats - local money) and we are suffering terribly high living cost. It can nearly be said we can't even breathe. This is the aftermath of the military government printed a terribly big amount of money and caused hyper inflation. It's still not extreme hyper inflation like you said. Even so, it is very difficult to live in this country these days. 🤦♀🤦♀🤦♀
Cant do ?? They cant risk losing the value of dollars and rising inflation
Brendon looked different from a previous cartoon character.
Japan national debt also surpassed 1311, 00 trillion yen ($9 trillion).
But yen weaken in this year especially....)
Tax the oligarchs.
no amuriKKka no problemo
No one wants to talk about the elephant 🐘 in the room😂😂😂😂😂😂
global war?
Which elephant?
there is unity with china
Pay itself its printable 😂
The value of USD needs to fall by 30%, but 50% would be much better for the rest of the new multipolar world. That would also mean the average american household debt will rise exponentially. Rise the global south 👍
Nothing, just give up and let time take its course
Once the rotten American Orange runs-out of money , the Juice will have to go to another country 😮
Well, China had better be savvy enough to watch out for these subversives and their century/centuries plus long plans. Includes the inter marriage and education infiltration methods.
Hope they don't come to Asia.
God bless America and get the f*** off or social media platform.
Would you stop if you can buy gold with your paper?
Australia and UK are not part of US so just demand all their reserves to be ceded to US. Problem solve.
The best thing FED should do is let the recession happen. Lays off and asset turmoil are painful but essential for reset to natural cycle.
Let USA keep accruing debt.
It is USA's problem, why you need to be concerned?
Il faut que tous les pays quitteront le dollar définitivement, c’est le seul moins pour sauver leur économie car l’amerique est entrain de couler
70% dept is from local investors from USA only 30% from overseas
"The Federal Reserve System is not Federal; it has no reserves, and is not even a system at all. But rather an international criminal syndicate."- Eustace Mullins.
We have the printer. 😂 we print, y'all take our inflation 😊
Multiple parties for a country is not good, and this is the perfect example. When the country does bad, they will either blame the other party or just let the other party take power so it's not their problem anymore. They go back and forth, never fixing the problem. When you only have one party, you have no one to blame but yourself, so you have to do good.
Yeah that's why you can't use your real name and you're using a VPN behind a firewall LOL. Yeah sure whatever you say 🤣
End the hundred billion dollar Corporate Welfare and you slow down ballooning national debt!
USA: China economy is about to collapse!
China: USA economy is about to collapse!
Lol who should I believe now?😅😭🙏
And that Palki of indjan media reported that China's economy is collapsing and indja is going to surpass China.
How much do the Chinese owe to the national dept per capita?SWEET BUGGER ALL! 🤣
@@RoyVickers-s8d Not as much as US. DON'T forget China is the second country that US owe most debt to, not China owe to US. 🤣🤣🤣
China has had a trade surplus the last two decades ....Chinese people have a cultural trait of saving nearly half of their income .... so any talk about China's collapse is premature....the USA however .....👎
China has 3 billion surplus coming in per day while the US is paying about 2.5 billion in interest per day.
The only way to stop this is for the U.S to temporarily shut-down anything related to manufacturing, assembly, and production for at least 3-4 months entirely. And while still keeping human service, grocery store and communication open during the 3-4 months temporarily close out. As the U.S still continue to consume. it has has to shut down some formed of business and supply demand to pay off debt.
IT"S NOT my problem.
Print more Money.
? Nothing, debt makes the bankers rich, and the bankers call the shots, so unless something bizarre happens, it will keep going up.
I don't think it can be stopped now.
When considering the US Debt/GDP Ratio, we should understand a significant fraction of that GDP is interest on debt that is not productive in real terms.
P.S.: it is $36T now. 😂
Charge it to big spender.
My debt is 2500 euros. Working everyday to pay my debt.
Unstoppable.
VERYEVRY GOOD...CONGRATULION FOR usa...❤❤❤👋👋👋👋👋👋👋👋👋👍👍👍👍👍👍👍👍👍
as long as the world still fancy of US dolar, then US can print the dolar as much as he like . US dollar will not be collapse. in the long run eventually the dolar will be decrease in value, But will not become 100% useless becouse majority of the government in the world still under US influence
The BRICS is doing that now. It's called de-dollarisation. With more and more countries joining, they can get rid of US dollar eventually.
Impose austerity just in the UK.
Kishida's "new capitalism": Japan's national debt record, weakens yen, rising cost for homeholds....))
The US will always pay its debt. It can print its own money. The only problem is the inflation and exchange rate risk, but given most rich economies have such a high amount of debt, I don't think there will be a mass movement of capital away from the dollar.
Nothing will happen.....as long as usd is wanted as it is still the most recognised n convertible
Nothing will happen until one day something happens. Never say never. Empires come and empires go. Nothing in this world is permanent. You can only do so much to postpone the day of reckoning but it will come about sooner or later.
@@raymondtay9442 Little by little, and then all at once.
Reduce global demand of USD by half, something will happen
@@raymondtay9442 Definitely. Even this world will be destroyed in the end just like we all would die in the end, eventually, no matter how much we take care of our health.
The goal is to keep printing money until Nat'l Debt reaches its peak where dollar value will be completely worthless just like Venezuela.
Why is the 35 trillion USD National debt a concern at all?
Why would the money supply be a concern? There is no fiscal solvency issue. The US Fed govt is a fiat currency issuing nation. This is silly. Interest being paid on the National debt is a policy choice. The US Govt can BOTH provide services to the American people AND service the National debt. The rate of inflation gravitates towards the rate of interest, if you wish to lower the rate of inflation, then the US Fed govt can simply lower the rate of interest.
So much misinformation and/or ignorance in this video.
Signs of more preference of gold over the dollar during turbulent times, but the dollar still holds the larger portion.
Us, don't feel it because they are careless about,democracy !, we have freedom you china don't the word freedom mean everything to America, while others problems mean nothing
It will be usd37T by year end.
Well easy.....but you need MERITOCRATIC leaderships. How likely will u.s implements changes like MERITOCRACY to their political system for the benefits of the middle class majority Americans?
Proving me correct
Taking on more and more debt to finance consumption is not producing anything that can be sold other than increase the interest payments that it can't afford to repay. I don't see such "growth" as healthy or desirable.
Us debt is biggest bubble in human history bút as soon as US dollar is still main reserve and payment currency in international trading globally then that bubble still growing and every years congress have meeting increase debt ceiling for goverment and us treasury still Aaa grade, bé cool😊
The US will keep on borrowing and spending, but not for the US. Let the next generation and the next and the next worry about that.
So there won't be 4 Interest Rate Cuts in 2024 ?
America in denial do not want to admitt it is errivelant😢😢😢
i hope this is addressed by the political candidates in today's debate.
Print more money 😂
Trump will pay everything 😅😅😅
The USA spend some USD 820 billion on overt conventional military budget plus another USD 100 billion on upgrading its nuclear arsenal, and an unsaid USD 100 billion on covert military activities on special military operations. The obvious self-help for the USA is to drastically cut its ginormous military expenditures down by 50% (USD 500 billion) by closing most of its oversea military bases in Africa, Asia, Europe and the Middle East, as well as make Peace with Russia, China, Iran and North Korea for at least 50 years. More importanantly, the USA has to accept a multi-polar global order, not the ones that the USA used to control under its Unilateral US-rule based global order.
Go ahead keep dreaing
Get rid of the casino econy and the crooks in the banks
Tax Rise to Address the Fiscal Deficits.
Sales Tax for Bracketed Goods.
Essentials : Groceries, Staples, and Beverages,
Furniture,
Consumer Appliances,
Less on Textiles,
Less on Telecom.
Transportation : Cars and Bikes and Vehicles.
Airfares,
Less on Railfares.
Water Bills.
Retail Goods.
Less on Service Tax.
Business Operandi Taxes on an Annual Basis.
Hazardous Chemicals Taxes.
Electrical Transmission Taxes or the Powergrid Taxes.
Natural Gas Pipeline Taxes.
Luxury Goods Tax.
Production and Processing Units Environment Friendly Taxes for Modernization on the Greenscore.
Less Taxes on Packaging Goods.
Precious Metals Taxes.
Real Estate Taxes.
Machinery and Fabrication Taxes.
IT and Tech Sales Taxes.
Not included credit card. House loans if all count together 180 trillion dollars how can America survive
So let’s go
Stop borrowing, stop competing who has what, don't buy unless you really need to.
Correct. The "Pissing Contest" has to STOP.
listening to black talk is more interesting to listen to
on the flip side, is US assets accurate or fake?
What is coming, 35 trillion will be lunch money 😅
$US4.4trn is $US4Trn minus $US400Bn.
$US400Bn as a gift is chump change.
Be careful! Desperate people do desperate things. Watch closely what they will do.
They've already started.
"Pushing Buttons" in Asia, forcing Countries to "Take sides" (Japan/ Australia/ Philippines being the latest)
Doing the same to Iran, (Was it a coincidence that Israel Assassinated a Palestinian Leader IN Iran, and USA responded to the Iranian reaction with.... "Overkill"?
They THINK they can orchestrate a situation where THEY can be portrayed as "The good guy" if they provoke China into conflict.
.
It's time for "The World" to tell the teenager (USA) to "Go upstairs and clean their room!!"
This means less money for US's war ventures.
Hajimeh
SO LITTLE ???????????