America's Debt Crisis Explained

Fact: America's national debt stands at $17 trillion. That's a tough number to grasp. Most people will never come close to making $1 million in any given year. How can we understand the magnitude of the hole our country is in? Well, imagine you owed your credit card company $200,000. On top of that you have to pay them about $4,000 per year in interest. You are bringing in $150,000 per year, but you are spending way more than that. How are you going to ever pay back that $200,000 debt? And what happens if you default? Well, that is America today. The problem is clear. And we brought Michael Tanner, a senior fellow at the Cato Institute, to propose a solution.

You can support Prager University by clicking https://www.prageruniversity.com/dona.... Free videos are great, but to continue producing high-quality content, even small contributions are greater.

Visit us directly!
http://www.prageruniversity.com/

LIKE us!
https://www.facebook.com/prageru

Follow us!
https://twitter.com/prageru

If you are an educator and are interested in using material like this in your classroom, click http://www.prageruniversity.com/educa....

• Category

  • Education

• License

  • Standard YouTube License