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The United States has a massive national debt that is currently around $36 trillion dollars. This debt is a burden on the country and it is a problem that could potentially get significantly worse over time. However, the government has no clear plan to eliminate the national debt and the problem does not appear to be going away any time soon.
In this video, tax expert Karlton Dennis explains why the US national debt cannot be repaid. He goes into great detail about the history of the national debt, how it got so bad, which historical periods were particularly bad for the national debt, and more. His explanations provide context to the situation that we are in today with the $36 trillion national debt.
Karlton also reveals which US president was the only one to ever actually pay off the national debt and why this was a very temporary state of affairs. Additionally, Karlton also explains the issues with trying to pay off the debt by using measures such as excessive money printing by the government.
CHAPTERS:
0:00 Intro
0:42 What Is the National Debt?
1:09 How Did Our National Debt Get So Large in the First Place?
2:33 Why Can’t the Debt Be Repaid?
3:30 Who Owns the U.S. National Debt?
4:12 What Does the Government Spend All Its Money On?
4:40 Why Can’t the Government Just Print the Money?
6:28 SPONSOR: Monetary Metals
7:21 Has the U.S. National Debt Ever Been Paid Off?
8:27 Will It Ever Be Possible to Pay Off the National Debt?
10:12 Subscriber Question!
11:53 Outro
*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.
#nationaldebt #federalreserve #monetarypolicy
