The national debt has long been portrayed as a burden we’re placing on future generations. John Oliver discusses how national debt works, why people are so concerned about it, and why it might be more helpful that you think.
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Subscribe to the Last Week Tonight LTwhite channel for more almost news as it almost happens: ltwhite.info
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_bang faces in Hawaii_
This isn't an insult but it's going to sound like an insult: Sarah Palin is what Peggy Hill would hallucinate while dying of a brain-rot.
14:39 OMG STRIKE DOGGU PROTECT THE DOGGU
Liberalism is great, let Netflix and another multimillionaire companies not pay taxes.
Lol it's not slavery? Right, it's modern slavery. Read about what China is doing in Venezuela and Africa. Oliver is nice, but it's like Q-Anon all the shit gone to just ONE side of the political compass.
i swear this is the most retarded video i have ever seen
Hey John! You like doing deep dives. Audit the Fed! You'll be shocked where all the money is going. I dare you John, Audit the Fed!
The ILLUSION of an economy in Crooked Amerika! How can you create millionaires in an army of the rich? Not difficult. You take one BILLIONAIRE who hires politicians and makes them rich, they support Wall Street and things like Dick Cheney's 9/11. Can you imagine being born a millionaire OVER AND OVER AND OVER!
I wish that end commercial could exist as its own thing. That was awesome.
Stfu dude...this guy needs to just stop
There's no nominal tipping point, it will come whenever the powers that be decide that lending to the US no longer becomes a safe bet. Get some good investments in now America, you'll need it when (If?) the shit hits the fan
So larger and larger dependance on banks is not an issue at all?
"expert economists don't know either " is not comforting .
Of all the businessmen to chose from, you pick the guy bringing us to a sustainable environmental future? Elon has my vote!
All the time I hear people say "a government should be run like a company" I think: then the government should increase their income by raising taxes. But for some reason raising taxes leads to communism.
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Republicans are so pathetic.
Money is made up. Debt doesn't matter.
OK BOOMER!! 🤣
Oh come on do not pretend to be victims. The national debt have no value for America. It impacts all other countries that use the U.S. dollar like China who is stupid enough to store a lot of it and invest in U.S. debts. Other countries has to produce resources, products and conduct services to earn their dollars. America who bought these products, technologies and services and owes these dumb countries money just turns on the printer and all debts are paid with pieces of IOU notes called the U.S. dollar. If you claim years of hard work and priceless materials are worth a piece of paper just printed and stamped by a money manipulator is fair then go to hell. Stop whining like victims!
It didn’t happen because the world is on the dollar standard. We keep printing more dollars. Give Peter Schiff a call. Hyperinflation is in the rear view mirror stating “objects closer than they appear”. You can’t print your way out of debt. We’re fucked!
This show just keeps getting better and better. Thanks guys, much obliged :)
3 pages of your notes app 😂
Before I paid attention and actually took time to listen to the arguments put forth by both sides and the manner in which they delivered them, I found this show entertaining. Now, today, it is impossible for me not to see the heavy bias that is extant here, it is literally impossible not to see it. People need to pay attention, wise up if you're able and not only listen to what is being said, but also the manner in which it is delivered and the rules followed or not followed during what seems a logical or fair debate, it will reveal far more than the words, concepts and bamboozlement being used in the back n forth...I promise.
John Stossel? Isn't he the idiot that got bitchslapped half to death once by Dr D David Schultz when he said wrestling was all fake? xD
Let’s go to the real issues: *pulls out Nicolas Cage pillow and wolf plate* WHERE DA PARTY AT FAM
“Of course, people won’t riot based on whether you click like on my post...or will they?” *riot footage plays*
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Okay, this isn’t racist, but... Republicans.
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Our country the Philippines has borrowed a lot of money due to the pandemic, but we don't know where they are spending it because they've disclosed any activities to the public, we don't feel or see the impact on our debt which is concerning.
You could say that debt becomes too much when the interest payments on it prevent any type of discretionary spending
LOL John, you should be taxed 100%. Then you will knoww what is slaverry.
You could be leaning left or right but, at the end, you'll perish under the force of the big simulator. Keynesianism 28 trillion dollar in debt and the minions are lobbying for even more fake money
OMG, you always lift my mood. Thanks. And your Ted Cruz poem..........perfection.
this channel became Democrat propaganda, not objective as its earlier years
“This lovable little human rights violation” I’m in TEARS
Thank you for the very insightfull Show!
babes, economists are not scientists, they make up theories out of nothing
It’s painfully obvious, this comedian isn’t qualified to speak on economics
This is how you know money is fake
How many times did fux (or any right-wing pundit), mention the "debt clock" during fatso's fiasco?
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Japan isn't agree with tipping point : Public debt stood at ¥1.12 quadrillion - 198% of GDP
Someone described John as a bird and another as their weekly depression dosage. His true identity is Tim Burton's toucan Sam, telling you to follow your nose to lines of depression and misery.
MMT - The Modern Monetary Theory
Jaaaa, I don't think mentioning slavery in itself is racist, but as soon as she prefaces with "this isn't racist" it starts to sound pretty racist to me at least...
Are they off this week? :D
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I hope it's that simple😄
Historically speaking it is almost always the case that US government debt increases when Republicans are in power, and the US government debt shrinks when Democrats are in power. However it seems the ones constantly complaining about the growing debt are always Republican politicians. To me this is a very curious phenomenon.
This guy is terrible.
The national debt number was put for one purpose, to make people fear. We live in $21 trillion dollar economy, That has doubled in 20 years (year 2000 GDP was $10 trillion). And it is position to double in 10 years, That's $20 trillion. That's more than enough to cover the national debt. In fact, even if the feds gave out $100,000 for every single person in the country, it would not cause a hyper inflation. The establishment want to scare you with these big number but when the time comes (it seem every 10 years) for another Wall street bailout of trillions of dollars, they wont even blink. When they say they don't have the money, they mean they just don't have the money for you.
Mr Oliver what if they charged you for your show... reverse work...negative interest...in your show...that would be like the national debt.
It’s painfully obvious, this comedian isn’t qualified to speak on economics
🎩 ..... 🌹 ...... ☭ 🤑 🤝 ✊ ⬇️ ⬇️ ➡️ ...... 👑 ࿕ .....⬅️ 🤑 ✋ If Americans don't understand this then China won....
Excuse me but I am a Gen Z and here is what I am going to say to Republicans, The National debt is not going to effect young people at all, now our entire planet being messed up by climate change and hundreds of million losing their homes from climate problems will
There are millions of tax-paying, masters degree holding residents in USA who work for US firms who are stuck in a Green Card queue for OVER A DECADE. If the govt. just removed these useless backlogs and let educated people open up more businesses, our deficits would go down, by a lot. Common sense.
The national debt is a stupid measure. Does anyone look at a balance sheet of a company and go, wow, this company must be terrible, it has debt? Amazon has 227 Billion in liabilities. So what? That isn't how you measure the value of something - you look the NET value. So to that 227B, Amazon has $331B in Assets. Well guess what, the national wealth of the entire US is approaching $300 Trillion. Yeah, that's right. $300 Trillion. Here's few other things to think about, the largest holder of US debt is.....Americans who depend on its steady, predictable payments. Yes, other nations like China, Japan and the UK also own substantial portions of the US debt - and this is a GOOD thing. If you were China and were owed $2T, how likely would you be to go blow it up? That would be like you going out and buying a brand new car, paying cash for it, sticking a rag in the gas tank and lighting a match. Kind of stupid eh? And while it is true that the national debt can have an inflationary effect, by far the greatest driver of inflation is none other than Adam Smith's supply and demand relationship. As we've increased inequality in this country, the demand by many Americans for new things (either by investing in a bank and expecting a return. or by consumptions - the largest driver of GDP) decreases. So if you really wanted to reduce the national debt, you'd need to have more tax payers paying more tax - by guess what - earning more money - by how? reducing inequality. Its pretty simply math.
John Oliver I very much enjoy your show. However, we do know why interest rates are at all-time lows. There are many studies that talk about this. Part of the reason is central bank monetary policy "race to the bottom" for governments lower their key short term government rates to make their currency cheaper thereby making their exports more competitive. Another is market segmentation theory - certain investor are mandate to only high-grade sovereign debt as part of their investment policy. Nominal interest rates, i.e. the rates you see on the Wall Street Journal, is just the sum of real interest rates and inflation expectations. When inflation expectations are negative (or deflative), then people believe that global growth rates are low. Finally, another reason i demographic. With the baby boomer generation retiring, labor force participation is near 50 year lows.When the economy is not at "full capacity", inflation expectation can be near zero or negative influencing nominal interest rates.
Every sentence said about GW Bush is incorrect. He cut taxes because that was part of the campaign. He didn't launch the war on terror, we got attacked! Like 9/11 has no significance? Please tell me the alternate plan that doesn't involve a pissed off America using our armed forces to mess someone's day up? Guess what... that costs money, so how about not kill 3,000 americans in a single day? That all aside, the Dems are the ones who tacked on massive spending to compromise for funding the the wars. They are still ALWAYS to blame for the deficit. This is revisionist history to describe the Bush era that way in a piffy, inaccurate sentence as if that was not a tumultuous two terms.
It's wild how many problems would be solved if billionaires and corporations paid taxes.
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To spend $28 trillion in 81 years, you'd need to spend $11K per second $657K per minute $39M per hour $946M per day So to spend it in one lifetime by buying new cars non-stop, you'd have to make them really high-end cars if you ever wanted breaks for things like eating or taking a dump, and even then you'd need to become a power-nap ninja.
Hearing the Senator from Louisiana’s voice makes me want to chew my fingers and toes off. And yes, I know his name....I just refuse to say it.
John wearing all black because of the death of Prinz Philip leaves me to wonder: - are these episodes recorded way closer to upload than I thought they were (and John Oliver is a true English gentleman even in his US exile) - is John Oliver actually a time traveller - did John Oliver assassinate Prinz Phillip and that's how he knows? Questions people; questions.
Another reason the US doesn’t worry so much about the debt , is when you buy US debt they only have to pay you back in US Dollars, which our government can print until doomsday, because theUS is not like European countries which are tied to the euro and cannot just print money 💰 like we can
Actually... only the Fed can print money... like the ECB in the Euro zone... but the point is both institutions will print money as long a the inflation isn't too high. So the US government is in the same position as EU countries.... more or less
...... Did John die and was cremated last week, and we're watching a clone do Last Week Tonight? ..... Is that what that death date on the urn was telling us?
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There are millions of tax-paying, masters degree holding residents in USA who work for US firms who are stuck in a Green Card queue for OVER A DECADE. If the govt. just removed these useless backlogs and let educated people open up more businesses, our deficits would go down, by a lot. Common sense.
I am now a creditor not debtor anymore
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Remind me why the Federal reserve, Debt based currency, and fractional reserve banking isn't the problem here?
The national debt is so large that just paying the interest on the debt cost $344 billion in 2020 and that’s WITH interest rates being at record lows. And John Oliver has you fools applauding it. It’s amazing. You deserve what’s coming to you.
Is this video seriously pro-debt?
Debt is debt... don't put weight on future generation.
So you’re blaming Obama’s lack of spending on Republicans? Stop being misleading. Obama actually bailed out the banks and let ordinary people lose their homes. Stop being a vote blue no matter who Queen.
Damn, a few years ago I appreciated your content. Now, you just ramble, cry and show no evidence to support your arguments anymore. “I don’t know.” As the years go by, your just another pessimist that has nothing positive to say about anything.
as usual, you're right J.O. PLEASE HAVE THE COURAGE TO SEE THIS VID FROM THE SCIENTISTS I must share this to you: I urge you to see this. You need to be ready. We are about to experience a species event Dr. Louis Pasteur invented the vaccine. He also invented the hypodermic needle to give it with. this thing here? this is not a vaccine like he made. His vaccine sensitized the white blood cell system to hunt and kill enemies. This thing here? this is the Jab. It GMOs every cell in your body and you better look at this video telling you what comes of that Disaster to you. ltwhite.info/pack/tKyKoNZpt9h9ZXc/vaizdo-ra-as.html
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I remember when John Oliver was funny. Too much politics and not enough jokes. Also Bill Clinton, a democrat, balanced the budget, so it’s not a right or left issue to want to balance the budget. Just a political call to the fiscally responsible people. Whether the politician follows thru is an entirely different matter
This video put a smile on my face
Debt can absolutely be the downfall of a country. The argument of debt in exchange for value is not including the most important metric: TIME. Companies that start in debt and never become profitable, ALL go out of business. You are forgetting time in your equation. crisis. To even hint at the fact that we can just print more money is both irresponsible and reckless. Almost every country that has adopted that strategy has experienced catastrophic consequences. Republicans give the money to the rich and democrats give the money to the poor and the rich (both tend to ignore the middle class). But it doesn't matter who gets the money, not one of the groups of recipients provide enough value in exchange for the money to ever pay off this debt.
No worries man. Just keep spending people
If you watch this show for the jokes and hyperbole you are ok. If you watch this show for a serious discussion on the issue of the national debt you will be terribly misinformed. How did he do a 22min piece on the national debt and not once mention the Fed?
@L D I can wait to tell you I told you so. :)
Gee, Joe, I am sorry that you didn't find Oliver's comedic infotainment more enlightening. I guess one might assume that you might have done some research of your own. For what it's worth, Oliver did say that we own most of our own debt--(and much of it is owed to the Fed, Social Security, OMB (retirees), the Armed Forces Retirement Funds Private Mutual Funds, Medicare, etc.). As long as we can meet our obligations such as interest payments and paying out benefits, we will remain fiscally sound. Our bigger problem is cutting taxes needed to maintain our mandatory spending while having enough funds to pay for discretionary spending such as the military. Speaking of cutting taxes, Oliver did criticize the Republicans for cutting taxes in 2018 which increased the deficit from around 0.5 trillion to over one trillion. Yes, we had to spend two trillion more last year to keep our economy from completely collapsing.... If you want to balance the budget and perhaps pay down the National Debt a bit. You'd have to look at what we were doing in the 1960s and in the late-1990s--and no--I'm not taking about LSD... I'm sorry he didn't break in down more for you in that 22 minute segment. Maybe next time...
Further to add if the GOP holds cutting taxes so near and dear to their core how do they expect to pay for anything besides cutting the shit we as average citizens actually need; like healthcare, social security, education, etc...? Meanwhile spending at least double on defense MORE than the next closest competitor and atleast 10x as much as everyone else is somehow not enough.
Exactly...spot on...
His bit on Reagan & co highlights one of the biggest misconceptions in our modern political landscape: That GOP presidents and majorities are better for the economy. Idk how this narrative took shape and hold but any recent measurements from 1980 (which marks the rise of Reagan & his policies, which for whatever reason is still seen as an economic standard bearer to the right) on up has shown Democratic presidents have had better track records.
Lets Sale Florida and Texas to anyone who wound want the piece of crap kick in the crouch States , Florida is under water (Sea rise) and Texas is out of Oil , Depended ON PIPE LINES Remember Deep Water Horizon that was a Texas non union Debacle !!!
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Amazing and accurate
Very informative I do like the whole presentation Sir Oliver.
This guy is desilusional believing that debt will not affect the US. Well it is through inflation the US dollar is losing value and it will continue to do so. Other countries are hip to this careless way of printing money out of thin air believing that it doesn't have consequences. Many countries are bypassing the dollar in favor of other currencies that's a sign that they are turning their backs on the dollar buying bonds somewhere else and investing in other countries mostly China.
@L D The US is the country with poor favorable ratings since they bomb and invade many countries. History will repeat itself with the US just like it did with England, Portugal the Dutch, Turkish, Romans, Greeks they ascended then descended. China will become the number one economy worldwide within a couple of years that's why you see hundreds of American companies doing business in that country. Most multinationals from different countries are there as well since China will become the biggest market to make big money.
Really? Do you really think companies and countries trust China more than the USA? China has a well-earned poor favorability rating worldwide. Very few democratic countries like China's foreign and domestic policies.
This discussion is a bi-partisan method of keeping everyone's eyes on the national deficit while money printed is loaned to the poor and then paid out to the pockets of the rich. Also, mild dishonesty here, becuase the bush jr and obama wrecks were both also bi-partisan. But I don't expect honesty when discussing money, so i'm ok with that.
This was like the last thing that my self and others in my family thought the republicans were good for, I guess that's out the window now too, or always was. Damn I thought we can at least have one nice thing to say about them lol
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I used to think John Oliver was cool and genuinely cares about muckraking, but now I just see him as a tribalistic tool of the establishment whose role is to steer leftists’ attention sharply away from our corrupt fake bipartisan military-corporate run government by making Republicans into the perpetual “bad guys”. That is, IMO, absolutely the worst way to reign in a bipartisan tendency toward irresponsible spending policies that mainly serve to benefit corporate America.
When I started this video I didn't expect to learn I'm no longer interested in the second season of Bridgerton.
Good to see Oliver being a good American (not one of those Trumpsters) and (still) pushing the Democrat party's talking points. Come on folks, get on board, uncle Joe wouldn't lie to you. I like when Oliver covered the lie about 15 dollar minimum wage, the single payer health provision and 2000 dollar cheques. Oh wait, not a peep. Keep it up, John. LMAO
mainly because we are a standard currency and if we fall, the world falls. if the interests rates do go up. watch out. that payment will be pretty steep. but they will just cut programs.
you kinda forgot to put in that the highest rates of US military deploiment are navy people to Japan. thousands of US soldiers just sitting in ships around japan for no reason, so maybe the debt to japan is not so cheap maybe it's just being paid by providing them with military resources instead of money.
Ooof these post Trump episodes suck
as a european, i have to say, the s**t kinda hit the fan when the interest pay rate became greater than the money made (gdp) by the country; at the time of writing, you can still only get 50 euros in cash per day out of an atm...
Finding ONE economist that stated he doesn't know why the interest rates continued to fall for so long doesn't mean there aren't people who know. Leave it to John Oliver to make a blanket statement implying no one knows.
Get ready, Biden is going to quadruple it.