The United States Debt Crisis Explained

srdsays...

>> ^heropsycho:

Ugh... let's take the example of the typical American. Is someone in horrible financial shape if they owe more than they earn in a year? No.
Hate this crap...


Someone is in horrible financial shape if he can't keep up with the interest on his loan (3:45 onwards).

heropsychosays...

The US is not in jeopardy of keeping up with interest payments on the debt, fiscally anyway. We have a faction in one party who has threatened to do it to make a political point.

>> ^srd:

>> ^heropsycho:
Ugh... let's take the example of the typical American. Is someone in horrible financial shape if they owe more than they earn in a year? No.
Hate this crap...

Someone is in horrible financial shape if he can't keep up with the interest on his loan (3:45 onwards).

RFlaggsays...

Okay, I'll upvote despite the fact I think the video is a bit alarmist as I'm sure the debate will be fun to watch.

I much prefer this video (and not *just* because it was my submission):


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