The real reason that this problem is so difficult to fix is that our population and government are used to their entitlements. Social Security is killing us- the Baby Boomers will fill it, and the revenue will be coming in at a 2 workers to 1 recipient ratio soon. But to get rid of it would mean political suicide for any politician that was part of the cut, and god forbid our elected officials actually serve the interests of the country as opposed to their own interests of re-election.
i guess the bonus is that all those old cunts who got you into this situation are gunna be dragged down with you & less likely to cope due to there age. eat the rich
alot of politicians & there advisors need to be held accountable for that. Why aren't the US citizens rioting in the streets, they're just going to hell without even caring. Its just a matter of time now. Feel so sorry for the younger generations.
The problem is far worse than this documentary describes. Let's say that we get more revenue from increasing taxes which I don't think is possible. If we took 100% of the income of this nation, then took 100% of the wealth from this nation meaning every private penny in the United States, we cannot pay off the $14.3 trillion dollar national debt. In addition if taxes are raised to try to pay off the debt, we will have massive unemployment and less taxes collected as a result.
@MrConservative608 That was, much like this video, a very astute analysis of the financial problem in America. I think more important to address is the human problem in the USA. While many of us are aware there is a crisis, there are precious few people offering solutions. While over consuming and major deficits may all negatively affect the economy, it is the stagnant attitude of the inhabitants -- who would rather point out than solve/avert the problem -- that got us in this mess.
The USA is foolish and overselfconfident. They do nothing until the symptoms appear, then they take antibiotics to cure the infection. This time, it's a brain tumor and it's spreading. The USA is f#@ked and despite all the warnings, they've just lit up another cigarette and poured themselves a whiskey.
S.S. and Medicare were not UNFUNDED liabilities. The American worker paid a portion of his income into those funds along with a portion paid by the employer. What happened is the U.S. government borrowed this money and didn't attempt to pay it back. The government should be made to pay this money back with interest. The government should cut a lot of programs to pay this bill back including its insane nation building and wars programs.
Cant believe so few people have watched this. Not only that but only half the people who started watching the first part got all the way through to the end.
@studentofsmith "if you can demonstrate.."?? Are you kidding me? Free Trade USA/CDA, all good, more or less. Then comes "The 3 Amigo's" with Mexico. Manufactureres, Mexico here we come. Thanks lax enironmental laws, thanks corruption & payoffs, and workers rights??? How funny it is to them. But, you didn't see the jobs lost? You didn't notice how we don't make much anymore? Made in America? Find it. Made in Canada? Few and far between. Slavery still exists & you support it with what you buy.
@ValueFreedom The best refutation of the "free trade costs jobs" argument I've ever heard came from the brilliant economist Milton Friedman [v=j0pl_FXt0eM]
But even if free trade does cost jobs you'd still need to demonstrate a link between high unemployment and the fiscal crisis being described in the video.
@stu It's obvious that the guy's a globalist. We lose jobs, but hey, some other country gets jobs??? And maybe, just maybe, they might spend the equivalent of money to support more employment in the West? I don't like him. People also fail to realize that when our jobs go overseas, it's cus of the lax environmental laws over there in respective countries, the lack of worker's rights, and it is supporting modern day slavery & exploitation of children. How can anyone see the good in that?
@stu "..if free trade does cost jobs" ??? IF. Well, if you don't see it, then you're obviously not paying attention, or you see job losses for us as being all good, so long as someone else gets the job in another country. The fiscal crisis is more than just free trade, & you know this. Though, free trade is a part of the equation no matter which way you look at it. If you can't admit that, then you'de be living in your own little world of denial. Good luck with that.
@ValueFreedom The trade imbalance is part of the problem but such an imbalance is not the natural and inevitable result of free trade. After all other countries embrace free trade without suffering trade imbalances.
But you're right, the statement IF free trade costs jobs is being too generous to your position. Free trade has NO effect on overall employment and any suggestion to the contrary is economically ignorant. It's clear you, like your former president, lack intellectual curiosity.
@studentofsmith You're statement of "IF" is being too generous is it? Free trade has NO effect on (key word coming up here from you) "overall employment". Keep living in your fantasy world. You think you know it all do you? You don't know anything. You're a stubborn fool who can't see past his own opinion. Thanks for the replies, but honestly, at this point, this discussion with you will go nowhere. So kindly piss off. I don't need any further replies from you. You said, I said, it's done.
@TheEllipsis731 Hey, thanks for the useless advice, really appreciate it. I'll give ya some of mine too... Get your head out of your ass and have a real look around on how much is made and where... Also look at who does it benefit most. Free Trade did and does cost jobs for North Americans, 100%. I suppose in your world, slave labor is ok too. I dont really care for your advice, as I'm sure you don't of mine.
American per captia GDP is 46400. A household with two income earners should be pulling in about 92800 before taxes. How much less than this does your household of full time workers pull in?
Although inequality may be a necessity in a capitalist economy, you have to ask how unequal is still fair. Don't be fooled into giving up YOUR social security. Capital gains tax is by definition half of income tax. Making money on money is taxed less than making money on work.
It's not that our leaders lack the courage to do anything about it. It's that they are the ones who have engineered it and are pushing it forward until inevitable economic collapse ensues. Then they can usher in their New World Order under the auspicious urgency of an "emergency". And we'll all be so broke & powerless, we'll have no other recourse but to go along with their insidious plan.
@JustAboutMyPolitics I was thinking somewhere along the same lines as yourself... Hmmm, when Bush said "We don't need to worry about deficits", that & the push for a global government & global currency makes me agree with ya 100%
All this dire $53 trillion talk is only valid until Medicare, Medicaid, and SS programs are reformed. Once these threaten the very existence of all the other programs that voters love, congress will be forced to do that or else get voted out of office finally.
Not only is taking away benefits for which people had already paid outrageous, it's downright obscene at a time when these people have just seen much of the wealth in their homes and their retirement savings disappear in the crashes of housing & the stock market. Making matters even worse is that fact that Peterson's friends in the financial industry, along with many of the economists who would like to cut Social Security, were the primary culprits in this nightmare.
Lets go back to the constitution, oh wait we cant because the people have no power, and the government isnt interested anymore in the peoples concerns. One way to solve this go to ni4d*dot*us and vote to empower the people so that they may once again play a role in our republic, "We the people" shaping the future rather than "Them the rich Minority".
The real reason that this problem is so difficult to fix is that our population and government are used to their entitlements. Social Security is killing us- the Baby Boomers will fill it, and the revenue will be coming in at a 2 workers to 1 recipient ratio soon. But to get rid of it would mean political suicide for any politician that was part of the cut, and god forbid our elected officials actually serve the interests of the country as opposed to their own interests of re-election.
soxxygirl42 1 week ago
i guess the bonus is that all those old cunts who got you into this situation are gunna be dragged down with you & less likely to cope due to there age. eat the rich
PooPusher007 1 month ago
alot of politicians & there advisors need to be held accountable for that. Why aren't the US citizens rioting in the streets, they're just going to hell without even caring. Its just a matter of time now. Feel so sorry for the younger generations.
PooPusher007 1 month ago
The problem is far worse than this documentary describes. Let's say that we get more revenue from increasing taxes which I don't think is possible. If we took 100% of the income of this nation, then took 100% of the wealth from this nation meaning every private penny in the United States, we cannot pay off the $14.3 trillion dollar national debt. In addition if taxes are raised to try to pay off the debt, we will have massive unemployment and less taxes collected as a result.
MrConservative608 7 months ago
@MrConservative608 That was, much like this video, a very astute analysis of the financial problem in America. I think more important to address is the human problem in the USA. While many of us are aware there is a crisis, there are precious few people offering solutions. While over consuming and major deficits may all negatively affect the economy, it is the stagnant attitude of the inhabitants -- who would rather point out than solve/avert the problem -- that got us in this mess.
ModernApollo16 3 months ago
The USA is foolish and overselfconfident. They do nothing until the symptoms appear, then they take antibiotics to cure the infection. This time, it's a brain tumor and it's spreading. The USA is f#@ked and despite all the warnings, they've just lit up another cigarette and poured themselves a whiskey.
urcritic 9 months ago
S.S. and Medicare were not UNFUNDED liabilities. The American worker paid a portion of his income into those funds along with a portion paid by the employer. What happened is the U.S. government borrowed this money and didn't attempt to pay it back. The government should be made to pay this money back with interest. The government should cut a lot of programs to pay this bill back including its insane nation building and wars programs.
HixsonLibra 10 months ago
@HixsonLibra both are legalized ponzi schemes.
kxmode 9 months ago
Cant believe so few people have watched this. Not only that but only half the people who started watching the first part got all the way through to the end.
MrPrincesssuperstar 1 year ago
@orkneymist Florida is good for tourism, but you can have Arizona.
orionpirates 1 year ago
You are a good man Paul O'Neill and I thank you for having integrity. This all began when they allowed Corporations to send our jobs overseas.
Volcano2014 1 year ago
Well, I wonder if maybe now people will agree that exporting jobs wasn't a good idea?
ValueFreedom 1 year ago
@ValueFreedom That depends if you can demonstrate a connection between free trade and this fiscal crisis.
studentofsmith 1 year ago
@studentofsmith "if you can demonstrate.."?? Are you kidding me? Free Trade USA/CDA, all good, more or less. Then comes "The 3 Amigo's" with Mexico. Manufactureres, Mexico here we come. Thanks lax enironmental laws, thanks corruption & payoffs, and workers rights??? How funny it is to them. But, you didn't see the jobs lost? You didn't notice how we don't make much anymore? Made in America? Find it. Made in Canada? Few and far between. Slavery still exists & you support it with what you buy.
ValueFreedom 1 year ago
@ValueFreedom The best refutation of the "free trade costs jobs" argument I've ever heard came from the brilliant economist Milton Friedman [v=j0pl_FXt0eM]
But even if free trade does cost jobs you'd still need to demonstrate a link between high unemployment and the fiscal crisis being described in the video.
studentofsmith 1 year ago
This has been flagged as spam show
@stu It's obvious that the guy's a globalist. We lose jobs, but hey, some other country gets jobs??? And maybe, just maybe, they might spend the equivalent of money to support more employment in the West? I don't like him. People also fail to realize that when our jobs go overseas, it's cus of the lax environmental laws over there in respective countries, the lack of worker's rights, and it is supporting modern day slavery & exploitation of children. How can anyone see the good in that?
ValueFreedom 1 year ago
@stu "..if free trade does cost jobs" ??? IF. Well, if you don't see it, then you're obviously not paying attention, or you see job losses for us as being all good, so long as someone else gets the job in another country. The fiscal crisis is more than just free trade, & you know this. Though, free trade is a part of the equation no matter which way you look at it. If you can't admit that, then you'de be living in your own little world of denial. Good luck with that.
ValueFreedom 1 year ago
@ValueFreedom The trade imbalance is part of the problem but such an imbalance is not the natural and inevitable result of free trade. After all other countries embrace free trade without suffering trade imbalances.
But you're right, the statement IF free trade costs jobs is being too generous to your position. Free trade has NO effect on overall employment and any suggestion to the contrary is economically ignorant. It's clear you, like your former president, lack intellectual curiosity.
studentofsmith 1 year ago
@studentofsmith You're statement of "IF" is being too generous is it? Free trade has NO effect on (key word coming up here from you) "overall employment". Keep living in your fantasy world. You think you know it all do you? You don't know anything. You're a stubborn fool who can't see past his own opinion. Thanks for the replies, but honestly, at this point, this discussion with you will go nowhere. So kindly piss off. I don't need any further replies from you. You said, I said, it's done.
ValueFreedom 1 year ago
@ValueFreedom Free trade does not cost jobs... Take an economics class...
TheEllipsis731 1 year ago
@TheEllipsis731 Hey, thanks for the useless advice, really appreciate it. I'll give ya some of mine too... Get your head out of your ass and have a real look around on how much is made and where... Also look at who does it benefit most. Free Trade did and does cost jobs for North Americans, 100%. I suppose in your world, slave labor is ok too. I dont really care for your advice, as I'm sure you don't of mine.
ValueFreedom 11 months ago
American per captia GDP is 46400. A household with two income earners should be pulling in about 92800 before taxes. How much less than this does your household of full time workers pull in?
Although inequality may be a necessity in a capitalist economy, you have to ask how unequal is still fair. Don't be fooled into giving up YOUR social security. Capital gains tax is by definition half of income tax. Making money on money is taxed less than making money on work.
Enochjaredson 1 year ago
time to go back to china...
kabauny 1 year ago
Can we all agree that Dick Chenny was one of the worst people ever to walk the halls of Washington?
apelove4u 2 years ago 23
HURRAY FOR HYPERINFLATION...
Thank god I have a Chinese and Britain passport
Hosing 2 years ago
@Hosing How can you have both passports when PRC doesn't allow for double citizenship? And I think that same goes for UK?
Eurynomos69 1 year ago
@Eurynomos69 He must be under 18. Rule doesn't apply untill you become an adult.
avengemm9dog 1 year ago
wow, kiss your ass goodbye
ryanmcdonell 2 years ago
Comment removed
rrrjjjmmm100 2 years ago
It's not that our leaders lack the courage to do anything about it. It's that they are the ones who have engineered it and are pushing it forward until inevitable economic collapse ensues. Then they can usher in their New World Order under the auspicious urgency of an "emergency". And we'll all be so broke & powerless, we'll have no other recourse but to go along with their insidious plan.
JustAboutMyPolitics 2 years ago
@JustAboutMyPolitics I was thinking somewhere along the same lines as yourself... Hmmm, when Bush said "We don't need to worry about deficits", that & the push for a global government & global currency makes me agree with ya 100%
ValueFreedom 1 year ago
the only thing us american's can do is learn Mandarin Chinese so we can move out of debtville to a soon to be more prosperous nation
learning Chinese is damn tough
mattgeb84 2 years ago
Just cede Alaska and Hawaii to China and America's debt is forgiven.
orionpirates 2 years ago
This comment has received too many negative votes show
President Obama is the perfect man to help dig out of this hole.
rosa11307 2 years ago
Could you explain this further please. Why do you think Obama is the "perfect man"?
compelled2283 2 years ago
maybe he is the best candidate to start it...atleast reduce deficit...
rinjingan 2 years ago
@compelled2283
through more government spending and FED interest rate manipulating like Bush.
BeaveHolio 7 months ago
@compelled2283 I think the more important question is, "How does one 'dig' themselves 'out' of a hole?"
ModernApollo16 3 months ago
yea....he's doing a swell job.
more than a trillion, isn't that what we are up to now?
all that money is going down the tubes, as the bankruptcy of chrystler and soon GM shows.
they are desperately trying to reinflate the bubble, while hoping it was normal.
and while we are at it, lets have universal health care, and lets save the planet too.
hell, if we're going to print money to solve our problems, go all out!
condorito29 2 years ago 4
@rosa11307 Hah! Good one!
Erverino 1 year ago
All this dire $53 trillion talk is only valid until Medicare, Medicaid, and SS programs are reformed. Once these threaten the very existence of all the other programs that voters love, congress will be forced to do that or else get voted out of office finally.
cinndave 3 years ago
This has been flagged as spam show
Not only is taking away benefits for which people had already paid outrageous, it's downright obscene at a time when these people have just seen much of the wealth in their homes and their retirement savings disappear in the crashes of housing & the stock market. Making matters even worse is that fact that Peterson's friends in the financial industry, along with many of the economists who would like to cut Social Security, were the primary culprits in this nightmare.
mhirtes12 3 years ago
Lets go back to the constitution, oh wait we cant because the people have no power, and the government isnt interested anymore in the peoples concerns. One way to solve this go to ni4d*dot*us and vote to empower the people so that they may once again play a role in our republic, "We the people" shaping the future rather than "Them the rich Minority".
kyeot 3 years ago 2
thankx 4 postn sad 2 say our comn generations will pay the heavy price
driftlordx 3 years ago
Anyone going into the Treasurey should feel a sense of foreboding that this grand ponzi scheme would collapse.
RyuDarragh 3 years ago
Thanks for posting.
WACCIMark 3 years ago
Comment removed
rosa11307 2 years ago