OH YES, PAYING SALARIES IN UKRAINE IS MORE IMPORTANT THAN HELPING THOSE WHO LOST THEIR HOUSES IN HAWAII, OR ONE WHO IS NOT ABLE TO PAY FOR HIS MEDICATION....JUST INTRODUCE COMPETITIVE BIDDING FOR SPENDING ON ARMS AND AMMUNITION - YOU WILL SUDDENLY SEE AMERICAN PRODUCERS WILL REDUCE THEIR PRICES BY 50% IMMEIDATELY
Didn’t Andrew Jackson pay off the national debt? What happened then? Economic growth? Prosperity? No, it was followed by a financial depression. What is needed is taxation to redistribute wealth.
“Dedicated policy professional with experience designing, advocating for, and implementing progressive economic policy at both the federal and local level” Idiot Policy Wonk
@@TempoPrimo2023you don’t think she’s a total political hack and joke? How can you take seriously anyone who doesn’t view our ballooning national debt and interest expenses as a problem? My name notwithstanding.
@@14534 She's not a hack because she's providing rationale as to why certain previous causes of high deficits were unproductive and how current measures will payoff over the long term, unlike tac-cuts for the uber-wealthy. Yes, it spurs growth but only for the near term, then leads to the very thing people complain about: deficits.
They need to ask this lady when the interest on debt reaches a certain percentage of the national budget does it become a problem. Even Biden’s proposed tax rates leave the government in a budget deficit that contributes to this whole mess. Imagine how bad interest payments would be if interest rates were even slightly higher.
@@TempoPrimo2023 The national debt has gone up under Obama, Trump, and Biden. Biden’s proposed tax plan still leaves a large deficit. That means spending is the primary issue. Unless the national debt goes down, the problem won’t go away. Unless you plan on inflating away the value of the US dollar.
2:10 Andrew: "Are you an MMT'er?" Because that's only for military spending, and nothing else. There's a reason MMT means Military Money Theory. BTW, our military spending is greater than the spending of the next 10 countries combined.
So what happens when those high earners start collecting massive amounts of SS? Let me guess we cap how much SS benefits high net worth individuals can receive.
@@teebone2157 They will never do it because the upper middle class would complain even more than the wealthy. Someone earning $10 million per year losing an extra $1 million of it in taxes isn't going to feel it. A family of doctors / lawyers / engineers / etc. making $400k per year losing $1500 per month from their budget is going to be noticed.
@@austinbradshaw3636 yeah ez. That should be step one. If you don't need money to survive, you shouldn't get it. The people that got money don't care about social security. It's more about principal to them. 😂
People who think like Kitty Richards is one of the major reasons we have such an out of control national debt. The interest alone will force budget cuts to programs that she is advocating for. China, Japan and other foreign countries have stopped buying US securities that fund our national debt. If Richards is advocating printing money then that will cause inflation which will hurt poor people.
Holy cow, as a finance professional who looks at numbers and all this stuff as a job. Everyone here missed the mark on this. But that women is absolutely wack and flat out wrong! Unreal lmfao!
The only hope, be it a small one, is to grow your way out of the deficit. Unfortunately, we have an administration that is slow growth and gov't redistribution.
Best comment so far, we need to go back to 19-63/20-17 both accomplished those goals while helping US 🇺🇸 get ahead as the gentlemen shown chart illustrated. Cheers 🍻
We should not be talking at all about tax increases !!!! The government spending is out of control and needs to be cut significantly. That lady is a complete clown
The tax cuts help to drive the debt, no doubt about that. But Entitlement Spending is only half the spending issue. We need to discuss our exploding Defense Spending!!!!
What would you think of a financial advisor who keeps all your money invested in US Treasuries, and vastly underperforms a 60:40 portfolio? That’s what the government does with the money you contribute to Social Security. If that money were handled in proper fiduciary manner, Social Security would have no problems with payments. Your contributions are being used as a slush fund for other Congressional priorities, and then they tell us that our promised benefits are “entitlements”. I am “entitled” to my contributions being handled in a fiduciary manner, not as a slush fund.
We were at gun point forced to pay into a pyramid scheme. There is no fiduciary responsibility owed by con artists to their marks. But what's done is done, our job should be to end the scheme and make the responsible parties go the way of ole Bernie Madoff.
Kitty Richards For President! Her apparent Slogan Tax cuts are bad and ruin the economy, where as raising taxes, borrowing more money and increasing the national debt will improve the economy. Who would have thought that increasing the national debt and raising taxes was are best option 🤔. Good thing Kitty is here to set record straight 🙃
This is another way of saying that there is NO plan to fully fund Social Security. The only fix is cutting benefits and raising the eligibility age. Keep this in mind when using SS calculators that recommend you wait till 67 or 70 "to get more benefits". How can you get more benefits later when they are constantly cutting benefits?
Let us start reversing all new govt expenditure all the way back to last time we had surplus. How about taxing all income as income without special considerations.
Kitty is an ideological mouthpiece who is a big part of the never-ending debt problem. (voters are the biggest problem, and the sections of the population that vote the most are sucking up most of the country's wealth. VOTE!)
You want assistance with the National Debt just call your buddy Trump and see if he can get the corporations and Billionaires to give their huge tax windfall back. I'm sure they'd be happy to oblige.
Andrew Jackson paid off the debt. Did it result in prosperity? No it led to a severe financial depression. From 2000 to 2024, $5.5T were spent in stocks buybacks instead of being reinvested into creating new jobs. They weren’t taxed until 2023 at 1% rate. Taxation is the issue, not the debt
I have to give cudos to Andrew.. he really calls out this lady for what the deficit is all about. she talks like a politician instead of an economist...example why does a high ranking politician has to have a bullet proff Cadillac suburban instead of a Chevrolet bullet proff suburban the Chevrolet is more affordable..and built on the same chassis..
what no one talks about is that we went from 6 billion people in 2000 to 8 billion in 2023? and 10 billion by 2050. Without corporate tax cuts, jobs will go overseas. we have to lower out standards of living.... wait until africa takes off....
Debt is not a problem, US government can just simply default on those debts, but you only get to do it once in a lifetime, cause dollar will collapse, so pick the right timing is technical.
OF COURSE, IF YOU HAVE SEEN YES MINISTER OR YES PRIME MINISTER, YOU WOULD KNOW THE SIMPLEST WAY TO AVOID PAYMENTS FOR UNEMPLOYMENT INSURANCE IS - TO DENY INSURANCE TO ANYONE WHO WERE OFFERED A JOB TWICE WHICH HE DIDN'T TAKE... SOMETHING IN IT. ALSO REJECTING FOOD STAMPS REQUEST FOR ANY HEALTHY INDIVIDUAL AND RESTRICT ONLY TO OLD, DISABLED, AND CHILDREN
Seems that bemoaning the loss of Big Government spending and loss of control by talking heads is the problem. Old saying that’s true, along the lines of “keep it simple, stupid”
Kitty did not appear to want to discuss the problem in a serious manner. That was a mistake given the opportunity to present a realistic set of solutions, rather than pander with political positions. That approach empowers Congress to continue their irresponsible spending (both parties), continues to avoid the problem as it grows, and does not educate the US citizens on the issue.
Complaining about the debt is like looking at your investments in your 401K and thinking how much money you wasted. It ignores the return on investment. Like she said, government uses that money to provide investments in the country which makes us more competitive and makes the lives of people better. Debt only becomes a problem when the money is frivolously spent. Yes, government isn't perfect, construction is too expensive, takes too long and has too much red tape, but it's easier to streamline government than it is to replace it. God knows the private sector just uses the cash for dividends and share buybacks and everyone is worse off because of it.
@@nbonasoroher first point was essentially ignoring the debt and considering it a distraction. She also used the hosts poorly worded response that all financial crisis being related to debt to dodge the question about the national debt being a potential problem. Without hyperinflation or absurdly high taxes that create recessions, the government has a limit on how much funds it can raise. Debt takes away from that limit of reasonable obtainable funds.
