The U.S. debt ceiling is a hot topic in Washington these days, but what is it exactly? Here’s a short video explaining how the debt ceiling works and the political issues around its extension.
Illustrations by Brice Hall
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And what about the Secret “Black Budget”?? It is paid for in tax dollars as well and almost all of it is exported out of the country. But it is treated the same in funding as the “White” budget — US Treasury Bonds.
Congress just loves spending secret money that it does not have to explain. Hidden sins. And no one talks about it.
what you are seeing is the super rich stealing money from the US government and putting the blame on S.S. so they can get rid of S.S. payments and steal all the S.S. tax money.
Pretty simple to understand.
Makes one wonder what are other venues for government to pay off the debts owed?
The video has some great graphics, however it seems to blame
(1) 1980’s defense spending (Constitutionally required to protect U.S. interests), which prior to this had been slashed and tech outdated; and
(2) “Tax cuts” as for the problem of the deficit.
That is not exactly the true reason why were are in this debt situation.
The REAL problems of the deficit are:
(1) Government spending more money than they take in; (2) Entitlements. Both are not adequately being addressed.
It would also be false to argue that the so called “rich” only got a tax cut – Related Articles: http://t.co/lmBvr23 and http://t.co/TN8WodS
“Economic Crack. Risk to the U.S. Economy” http://t.co/euyBwGY
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[…] Four minutes is all you need to watch this Reuters video, The Debt Ceiling Explained. […]
Best explanation on the web!