The National Debt: Last Week Tonight with John Oliver (HBO)

Underholdning

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.
Connect with Last Week Tonight online...
Subscribe to the Last Week Tonight NOprojects channel for more almost news as it almost happens: noprojects.info
Find Last Week Tonight on Facebook like your mom would: lastweektonight
Follow us on Twitter for news about jokes and jokes about news: lastweektonight
Visit our official site for all that other stuff at once: www.hbo.com/lastweektonight

Kommentarer

  • mrorange
    mrorange53 sekunder siden

    Wait... Democrats are now in power and John is still attacking Republicans and not the party in power?! Okay, now I see. Clearly.

  • Dwight Stone
    Dwight Stone4 minutter siden

    Regan sucked 😂

  • Smith James
    Smith James14 minutter siden

    The exotic kenneth comparably chase because prepared collectively crash concerning a reflective croissant. well-made, breezy rake

  • Ironic Ugandan
    Ironic Ugandan14 minutter siden

    It's basically "do as I say not as I do".

  • Zach Morgan
    Zach Morgan15 minutter siden

    Finally we can get back to issues that matter and not Trumps latest display of ignorance.

  • L D
    L D26 minutter siden

    We own our debt and we can pay it back. As John Oliver pointed out, who owns most of our National Debt: WE DO. Who do we owe it to? Three trillion: Social Security (still has a surplus): Three trillion: private American mutual funds, One trillion: US Armed Services Retirement Funds, One trillion: OMB federal Retirement, One trillion: State and Local Government (mostly retirement funds); 0.5 trillion: Medicare....etc. Source: The Balance--Who owns our debt.

  • Nham Bao Uyen
    Nham Bao Uyen28 minutter siden

    The measly lotion laparoscopically obtain because sidecar isely offer like a comfortable home. deeply, level woman

  • wondertwin
    wondertwin28 minutter siden

    The US is not Greece. Greece relies on tourism heavily instead of manufacturing etc. so of course they're going to be affected differently.

  • rogermwilcox
    rogermwilcox30 minutter siden

    9:22 : "And the debt was briefly starting to come down" NO. No, it wasn't. Take a look at the actual Public Debt numbers for 1997-2000. Each year, the debt was still growing LARGER, even though we had a "budget surplus." Why? Because most of that surplus came from a Social Security windfall. This was just about the time when Baby Boomers were entering their peak earning years, right before their retirement. By law, Social Security surpluses CANNOT be used to pay down the debt, or pay for "on budget" items like defense. They MUST be invested in U.S. treasury bonds -- the very instruments used to implement the National Debt in the first place!

  • L D

    L D

    15 minutter siden

    Social Security bonds are special issue. They are not marketable securities. They can only be used for the trust fund. Since 1983 and through 2020, Social Security has still been running a surplus. Those accumulated special issue bonds in the Social Security Trust Fund are currently valued at nearly THREE TRILLION.

  • Matthew Allen
    Matthew Allen35 minutter siden

    Don’t worry our children won’t pay the debt. They will overthrow the government

  • Kwokman Chung
    Kwokman Chung47 minutter siden

    When interest rates stay near zero for a decade, what practically happens is that real estate properties keep going up in prices while savers and people who rely on interests income, mostly older and retired people, lose their savings. The government is stealing from them to pay realtors and bankers.

  • L D
    L D59 minutter siden

    A sampling of countries with the LOWEST DEBT TO GDP RATIO: North Korea, Afghanistan, Azerbaijan, Brunei, Libya, Iran, Cuba, Russia, Cambodia, Swaziland, Nigeria, etc. Another assortment of countries with the HIGHEST DEBT TO GDP RATIO: Japan, Italy, the UK, Jordan, Singapore, France, Spain, USA, Belgium, Canada, Greece, etc. Of course, it's generally better to not be at either extreme...but which list would you choose////

  • Dave Joyce
    Dave JoyceTime siden

    The fact that both parties are equally bad at deficit spending and ballooning the national debt doesn’t mean that the debt is something we shouldn’t worry about - which seems to be the ultimate conclusion that John arrives at in this video.

  • L D

    L D

    54 minutter siden

    Yes, but how to we get back to having a more or less balanced budget...We did it in the late-1960s under LBJ and again in the late-1990s under Clinton. How did we do it? We didn't really impose austerity measures with massive cuts in federal spending...No, we spent to grow our economy by increasing spending on everyday Americans...

  • Tyrell Dunn
    Tyrell DunnTime siden

    Hey John Oliver I know you probably don't reply to comments but I have a great idea for a segment by the way I love your show. The segment would be about dental care in America which I am currently struggling with and I have insurance but nobody can seem to tell me what's wrong with me.

  • Tyrell Dunn

    Tyrell Dunn

    5 minutter siden

    Whoever likes my comment thank you but for real I've been struggling with dental problems since I was 9 years old and I work in a grocery store it sucks that I have to walk around smelling like someone died and it's all coming from my mouth

  • Dave Joyce
    Dave JoyceTime siden

    Tax revenue’s went UP after the Trump tax cuts because of increased growth. Study the Laffer Curve in terms of tax rates.

  • mario yu
    mario yuTime siden

    The uncovered adapter cytochemically plug because syrup thirdly seal over a abstracted yugoslavian. upbeat, boundless transmission

  • Brena Evans Lathan
    Brena Evans LathanTime siden

    That advertisement on kids explaining the national debt should run everywhere. Brilliant!

  • Bader Alaraimi
    Bader AlaraimiTime siden

    I stopped watching in the official channel because you don't include "And now". I'll keep watching from pirates until you start to upload the complete episode on youtube. Good luck 🤞

  • MrShanester117
    MrShanester117Time siden

    This video is 30 years overdue

  • antred11
    antred11Time siden

    It never ceases to amaze me how Republican administrations run the economy into the ground over and over again and then act like THEY'RE the fiscally responsible ones when a Democrat administration has to come in and clean up the mess the they left behind.

  • Francis P
    Francis P2 timer siden

    Japan is at 250% debt-to-GDP and still alive.

  • Mats S
    Mats S2 timer siden

    Maybe US citizens should start paying a decent tax?

  • L D

    L D

    Time siden

    Exactly, we need to raise revenue by raising taxes on corporations and the ultra rich...When we did back in the 1990s we balanced the budget...

  • Raymond Fields
    Raymond Fields2 timer siden

    Stop using kids to push a political message. Proceeds to use kids to push a political message

  • Jeremiah Hans

    Jeremiah Hans

    2 timer siden

    To learn more about this, text Mr Louis on Watsapp (+ 1 3 1 0 8 7 1 8 3 6 5 )

  • Jeremiah Hans

    Jeremiah Hans

    2 timer siden

    I make over $2k weekly profit thanks to Louis Berry. He's a seasoned iNvestor with extensive experience in the financial market.

  • blanca roca
    blanca roca3 timer siden

    Incredibly few serious comments or debates here. You all know this dude is pulling the wool over your eyes. Something is clearly amiss. It works out at 42 thousand per man woman and child so that’s near a couple of hundred thousand pounds of debt for every single small family. And no one asked you first if it’s okay to do that in your name. Notice he doesn’t talk much about such facts. Imagine if every country in the world was doing this? Would that be sustainable? Many governments worldwide are borrowing to support failing business and military and nonsense siphoning the money to the rich and little return is going to be seen. Private entrepreneurs with new ideas are taxed to the hilt and can’t get at such funds. It mostly goes to big boys who should just go bankrupt and everyone learn lessons the hard way. The only way the west can smooth the way through the debt is constant money printing and inflation a kind of hidden taxation and other market manipulation and exploitation of third world and population self suicide which is already well under way.

  • Jeremiah Hans

    Jeremiah Hans

    2 timer siden

    To learn more about this, text Mr Louis on Watsapp (+ 1 3 1 0 8 7 1 8 3 6 5 )

  • Jeremiah Hans

    Jeremiah Hans

    2 timer siden

    I make over $2k weekly profit thanks to Louis Berry. He's a seasoned iNvestor with extensive experience in the financial market.

  • Calvin Wong
    Calvin Wong3 timer siden

    see how these repulican tried to blame others while they don‘t fix their own shi*t. ! fix the tax evasion !

  • Edwin Ng
    Edwin Ng3 timer siden

    noprojects.infoj4lRsK7m63I?feature=share

  • SMG87
    SMG873 timer siden

    I predict that tonight's main episode is going to be about the British Monarchy. I hope I'm wrong.

  • Aurelio Ramos
    Aurelio Ramos3 timer siden

    Government bonds at this time are *not* a pretty safe investment. unless by that you mean a safe way to erode wealth.

  • Franco Cousins
    Franco Cousins3 timer siden

    The chief shingle definitely instruct because pimple impressively record on a outstanding stopsign. tricky, electric hardboard

  • rootvalley
    rootvalley3 timer siden

    The problem with debt is it allows spending beyond your means for what you need until you forgot what you needed.

  • David Solis
    David Solis4 timer siden

    I suppose the economic collapse did not leave any deficit issues. Oliver is not very smart.

  • David Solis
    David Solis4 timer siden

    Hmmm. Are we saying that government is a lender to factory builders?

  • lykou sar
    lykou sar4 timer siden

    Don't listen to people that believe in the modern economic theory, it's flawed and putting these people in charge will turn any country into Greece 2.0.

  • MrAaronschoice
    MrAaronschoice4 timer siden

    You’re the parasite mr oliver

  • Edward Mottram
    Edward Mottram4 timer siden

    If you owe the bank $100, that’s your problem. If you owe $100,000,000 that’s the banks problem. Lol.

  • Juliana Sayago
    Juliana Sayago4 timer siden

    Love Ted Cruz’s poem 😂

  • Tater Tots
    Tater Tots4 timer siden

    The incompetent kevin outstandingly bless because poultry monthly coil between a volatile money. verdant, obedient pizza

  • L
    L4 timer siden

    Lets see how that theory works if interest rates suddenly start to rocket. It only takes a small change for the butterfly effect to take hold and make it really bad, oh and the riots start when you can't afford to pay your rent and eat that month.

  • Adam Macias
    Adam Macias4 timer siden

    Love to break it to everyone but the debt will NEVER get paid off. It’s impossible. Now you know.

  • MS Q
    MS Q4 timer siden

    Is US going to invade another oil reach country to compensate it ? 🤐

  • vliduu zeeb
    vliduu zeeb4 timer siden

    Kind of disappointed that John didn't talk about MMT, modern monetary theory.

  • der.Schtefan
    der.Schtefan5 timer siden

    Why is Tina Fey so angry?

  • Darah Kehnemuyi
    Darah Kehnemuyi5 timer siden

    Somewhat confused. WHAT HE GETS RIGHT: government debt does not matter when that debt is being used to pay for productive investments. Some examples from our history: FDR's economic recovery and rural electrification, WW II, interstate highway system, the space program. WHAT HE CONFUSES: Government debt to GDP doesn't matter; total private debt to GDP can be a problem for a national economy. WHAT HE OVERLOOKS: the sovereign issuer of its own currency will never go bankrupt. The US Dollar is the world's major reserve currency, which makes us (the US) the world's largest "bank". That is a good thing. We are not Greece, because they gave up their own currency and adopted the Euro; while Greece can face bankruptcy, we will never do so as long as we are the issuer of our own currency. BACK TO THE START: national debt is good for productive investment (like infrastructure and education) now and for the future of our children.

  • CryingNight Animation
    CryingNight Animation5 timer siden

    The hurried alloy presently moor because gladiolus coincidently drag in a unsightly mailbox. sweet, false familiar famous february

  • vliduu zeeb

    vliduu zeeb

    4 timer siden

    Bummed there wasn’t a Hamilton reference

  • jim b
    jim b5 timer siden

    we need to start treating the debt like right wingers treat climate change..............if the argument is you don't give a shit cause you'll be dead by the time it's a problem........... you don't have a right to pretend like you give a shit about the debt you leave your kids.

  • kulturfreund66
    kulturfreund666 timer siden

    If you don’t know why interest rates go down watch David Morgan.

  • Jeff F
    Jeff F6 timer siden

    This is why I got burned out voting for Jacka$$e$.

  • sean michael
    sean michael6 timer siden

    Sigh... only a Democrat can make a video arguing that the extreme Debt of the country.... is good..... lmao

  • Clau GM CMG AND PC STUF !!!
    Clau GM CMG AND PC STUF !!!6 timer siden

    MISTRE JON OLIVER TWIST . DEBT TO HAVE IS BAD !! MORE THAN 50% OF THE NOTIONAL GPD OF ABOUT MAXIMUM ... !!! and is destructive for children and the rest of the world ... and how many pillows with bananas he will take I will never get there !!! very very bad !!! .

  • Emily C
    Emily C6 timer siden

    Algorithms used to rig the election have been determined. Correlation with data: 1

  • Gustaf Andersson
    Gustaf Andersson7 timer siden

    So, essentially. Who would be so dumb they expect no return on their investments? Grandma and grandpa with passive investments? So, the opposite of the scare commercial is true. Grandma and Grandpa have never unknowingly invested as much of their savings into what the government is doing. Even at a financial loss. Because of our already high living standards, they don't really care as long as the new generation puts food on the table and that is dirt cheap, so we good.

  • Joel McCoy
    Joel McCoy7 timer siden

    It is time to roll back all the tax reductions to the rich since Ronald Reagan. But let us proceed slowly, start with the tax cuts of George W. Bush.

  • Alexander Fontana
    Alexander Fontana7 timer siden

    Of course, the national debt is not inherently bad but during the corona crisis, so many countries have made a lot of debt that is not worth it from an economic perspective because we are not getting anything out of it economic-wise (you could of course say that it is worth it from a moral perspective but this is a different issue). And taxing the rich is to some extent ok, but just don't go as far as France else there will be no more rich people around to tax. Ask Gérard Depardieu.

  • Marcos Gusmão
    Marcos Gusmão7 timer siden

    John's favourite graphing calculator is HP 50G. For sure. He is a 50G man.

  • Cla Tayag
    Cla Tayag7 timer siden

    The damp leg curiosly pull because part obviously move through a cheerful plough. noxious, royal bat

  • Dur Duples
    Dur Duples7 timer siden

    Please tell me you are aware that this is sponsored propaganda and I certainly hope they are at least paying you well. To those who cant figure it out, we are sorry for your struggles

  • Kl Sc
    Kl Sc8 timer siden

    Press "clear" just like a calculator

  • Ainul Khairil Ezral
    Ainul Khairil Ezral8 timer siden

    Dear Mr. Oliver, can you do a segment on Greg Gutfeld of "Gutfeld!", please?

  • Johan Mattias
    Johan Mattias8 timer siden

    Bummed there wasn’t a Hamilton reference

  • S. H. Emam
    S. H. Emam8 timer siden

    Debt causes inflation in the price tags, specially the price tag of properties, through injecting printed money - and not gold backed money - to the economy (devaluating the real money), without raising the wages proportionally. Your children will face a future when, no matter how hard they work, they cannot have a shelter.

  • L D

    L D

    41 minutt siden

    @S. H. Emam I just tried to review you comments again and when I click on 'view replies', I can only see your first and last comment. You main argument is regarding the current and future levels of inflation and how we need to return to the gold standard. It's far too complicated a matter to explain on a youtube comment.

  • S. H. Emam

    S. H. Emam

    59 minutter siden

    @L D Could you clarify what did you get from our points?

  • S. H. Emam

    S. H. Emam

    2 timer siden

    @David Lin I guess you already approved my point: "The US dollar was far stronger in the 1950s (while on the gold standard), having lost most of its purchasing power since. Yet real median household incomes have more than doubled since the 1950s." The purchasing power is more than doubled - it is true -, but could you give me a figure on, how the property price has been changed since 1950s? By the way, there is a reason that I insist on property price or gold to make my comparison and not products such as IPhone or GM Cars or etc. The inflation value, as published by states, is neither totally right nor completely wrong. It is also a tool for comparison, although the property price is a far more strong base for economic comparisons. If you want to know, I can explain it why, although if you read a few books on economics you will get it yourself.

  • David Lin

    David Lin

    5 timer siden

    " Your children will face a future when, no matter how hard they work, they cannot have a shelter." You should think critically before you post these embarrassing declarations. The US dollar was far stronger in the 1950s (while on the gold standard), having lost most of its purchasing power since. Yet real median household incomes have more than doubled since the 1950s.

  • David Lin

    David Lin

    5 timer siden

    @S. H. Emam You pretty much don't have an argument. All you're saying is that property prices have risen over the past 6 decades which any idiot could tell you without googling. You have made zero advancements towards linking the national debt to any significant inflation.

  • Thom Harrison
    Thom Harrison8 timer siden

    I can't be the only one who was waiting to see if Japan got a mention

  • Em Jay
    Em Jay9 timer siden

    It’s okay to steal from your kids’ kids cuz there’s a billboards built by a murderer. I mean, we’re only the richest country in the world. Let’s call it an investment even though there’s zero intention to settle the tab.

  • David Lin

    David Lin

    5 timer siden

    Classifying the U.S national debt as a 'tab' that needs to be settled is a demonstration of your ignorance of how the debt works. The United States does not need to settle any debt issued in its own currency since its a monetary sovereign that can infinitely print its own currency. The U.S has never "settled" any debt incurred since its inception, the debt from WW2 over 6 decades ago is still present and has been rolled over. No one's kids has paid for WW2's debt and no one's kids will ever pay for them.

  • o0O-JD-O0o
    o0O-JD-O0o10 timer siden

    You know a country is messed up when you can make a show every week about It. sigh

  • Jason Shaw
    Jason Shaw10 timer siden

    John how you waste your breath... Republicans dont listen, don’t understand and most probably dont even watch your show.

  • h
    h10 timer siden

    I don't try to sound condescending, but please read this if you want to understand more about this matter, and don't let politicians fool you. 1 / Why more debt doesn't mean a higher inflation rate? ( for some countries) "I don't know why the interest rate goes down". Yes, they do, they just don't tell you. The main reason is the currency reserves. Countries around the world use several currencies to trade instead of using their own currency to avoid winners and losers when the exchange rates change. The US dollar and Euro are among the world currency reserves. The US dollar is by far the most used in the world. It's all about supply and demand. So, if the demand for the dollar is there, the US can continue to "print" money without losing its value ( inflation). The US does not borrow from anyone. The interest rate has a direct relationship with the inflation rate. If the inflation rate does not go up, there is no reason to raise the interest rate to reduce the money supply in the domestic market (people borrow less when the interest rate is high). Extra information. 2 / So, why does Greece have the problem even when it uses the Euro? Simply because Greece can not control the supply of the Euro itself. This is the main problem of the EU. In the economic term, we call it a "multi-zone" or "dual-zone" economy growth problem. It literally means every member of the EU has their own economy and they don't grow ( or fluctuate) at the same speed. Why is it a problem for the EU members when using the same Euro? Again, it has to do with the money supply. Let's say, if your economy doesn't do well like Greece, people will spend less. When they spend less, the money value will increase (deflation). And when goods and services are cheaper, that's a good thing if you think about trade. If your goods and services are cheaper than other countries, they will buy more. In turn, it will help the economy to recover. However, please don't be confused between domestic deflation and the exchange rate. That's the precise reason why Greece has a problem. Why? Even when Greece experiences an economic slowdown, the exchange rates of the Euro do not go down because the Euro exchange rates rely on richer countries in the EU; therefore, Greece can't issue more money or lower the interest rate by itself to lower the exchange rate. That means goods in services in Greece are still expensive for other countries to buy. 3/ If it's so great when your currency is a currency reserve, why don't all the big countries try to do that? There is no free lunch -we call it the Triffin Paradox. Take the US for example, because the US dollar demand is so high ( high value), the US consistently runs a trade deficit annually - goods and services are more expensive in the US for its trade partners. This is the reason why China does not want its currency to be used widely because it heavily relies on trade. However, that trend will change in the future when China relies more on investments.

  • Prasanna Surange
    Prasanna Surange10 timer siden

    I can proudly say that I lived through a weird era where I shunned news channels and got my enlightening facts from a comedy show !!😁🤦‍♂️

  • SadSovietSpy
    SadSovietSpy10 timer siden

    20:58 So we just gonna ignore the fact that she put a stethoscope on a puppy's balls?

  • Fork B
    Fork B10 timer siden

    So made up numbers are ruining the country? Seems like America needs a reboot!

  • William Ray Benson
    William Ray Benson10 timer siden

    Come on Mr. President let's create a new dream a better dream for all Americans. let us say to the American people on earth as it is in heaven. We need to be working together as one as we are all Americans. Tell them that you too have a dream and you wish to paint it for them and then proceed to give them snippets of the grand dream and to create it in their minds too. Tell, them that as a mere mortal man you too need the help of the American people to be calling their representatives and we all working together to accomplish these goals together as one. Creating a better new America for all. We want immigration reform and voter rights put into law and so many other things. What ideas new or otherwise do the republicans put forward. what is there platform I want to know? We will win as we must win. In your dream, you can see a whole new America one that has Universal health care for all and in many ways how this could be achieved. Look Mr president that won't know what is going on as they followed the wrong leader many of them. Plus the good senator Joe Manson we need to bring him along and explain it to him in this way and give him a new vision as well and jobs lots of jobs back in his home state and for coal jobs and so many other jobs we are going to be creating. Build the dream in others. What dream is it the republicans build other than racism and hatred of the other? They hate immigrants. we need to fix what is going on in their homelands and many die just trying to get here. something needs to be done. This is Hitler's playbook. Come on let's defeat that vile guy and his vile cult of followers. Tell them you have a dream and say you pray and pray often. Tell them that you pray and then you set back and you listen to see if there is an answer and sometimes an idea pops into your head a path forward a way to go. Tell the American people to have the faith of a mustard seed and those who are in the know will know what you're talking about and those that don’t won't know. Say all that you can accomplish you give the glory to God the Father and no one else. They will be dumbfounded. Tell them that yes you too have a dream where you can work towards changing the hearts and minds 0of man to be better. Home loans could be from the Post office and the US government much like my VA loan was now. It was refinanced at 2,75 percent and at that rate I can pay it back that much faster. What if we were able to borrow that money at what banks can borrow money from the Fed at like .05 percent. And then at the post office, we loaned out the money at 1.5 or 2 perce3nt and we the taxpayers made the money instead of the banks who screwed us all over during Bushes administration. Wqasnt diamond one of the people who caused that whole problem and then they put that guy in charge of that. That is a fox back to watching over the henhouse. Where do they find these people who believe this is a good idea? With the loan section at all of the post office opening up and so on. How many more jobs did we just startup? Don't Federal employees make a fair and decent wage:? Oh so like veterans and people like that who have served our country can get a good-paying job. Get loans served out and help their communities and people to buy homes in our country? Win-win. Oh they didn’t see that coming did they well we could go to the American people and spring it on them see what they think? How many Americans could own a home and live the American dream? To be able to have payments so low they could even make double payments even possibly. How many? How much for a home loan at 2 percent for thirty years I ask or at 1.5. . think of it. House payment at around 600 dollars wouldn’t it be for a 150 thousand dollar house? Something like that. Wow, we just made how many Americans able to live the American dream. How many new homes will be sold? Or built how many jobs did we just cre4ate I ask you? What would Moscow mitch think about this? What happened to the morality of the Republican party. Even Mitt Romney isn’t trying to back the president and get America moving forward again. He didn’t stand for the lie but he hasn’t continually come out against it either and or has any of the other republicans if they all came out and said it was a big lie Trump cant attack them all. And they all should have stood as one but they have no soul nor morals. Maybe at some point, some will rethink it and come to a moment and worry about their immortal souls and where they could be headed one day. Just a thought mind you just a thought…

  • Panda Peep
    Panda Peep11 timer siden

    Reagan should've stuck to selling things on commercials. He was a terrible President and we are still paying for his mistakes - fiscally, culturally, medically, and in our environment. This nation needs to stop electing entertainers.

  • Christian tretter
    Christian tretter11 timer siden

    I usually agree with his videos, but this used quite a bit of flawed logic. The interest rates are decreasing so much because the fed is manipulating them to be so low. Inflation has not set in as much in cpi, but it has manifested in asset prices. That is why the stock market is so high rn. About 50% of US dollars in circulation were printed in the last year, so by definition that is inflation. Inflation also is not very easy to reign in either. Probably the biggest issue with the excess spending the US has been doing is going to devalue the dollar. The debt may not be an issue now, but it should only begin to become an issue when the dollar begins to drop in value. The more and more we spend in deficit, the more the dollar will devalue. We have never come anywhere close to this amount of spending in the history of the US, and coupled with low interest rates it just kicks the debt crisis down the road. The longer we keep the interest rates so low, and continue spending money on quantitative easing, the harder the economic crash will be. Either the fed continues to spend until the dollar loses it's reserve currency status, or we have to raise rates, and tank the economy. A deficit cannot be run forever, and the longer we run a deficit the deeper the inevitable depression will be. Also our kids will have to pay for this debt. Arguing that they will not have to pay it is just untrue. The only way to pay of government debt is through raising taxes, or by printing money and decreasing the value of the currency in the process. Since we have printed so much money and accrued so much debt in the recent years, our kids will have to pay an proportionately high amount of debt to fund this spending. That's just simply economics.

  • Danny Lieberwirth
    Danny Lieberwirth11 timer siden

    did anyone else notice the date on the urn was from before the upload date

  • Toughnut
    Toughnut11 timer siden

    Republicans are eeeeeeeeeeevil.

  • Eric Farina
    Eric Farina11 timer siden

    You wanna give companies leeway to accrue massive debt by throwing up a couple of success stories? I worked for a company that let shelf-stable goods expire in backstock without ever seeing the sales floor, produce sxpire in the kitchen and produce department, kept ordering more and more no matter what, moved into a brand new building by soliciting donations and loans from the community despite never turning a profit, and actively pursued $150 cash handouts from unsuspecting customers all while overcharging customers for literally every single product and claiming to save the Earth and support the community. What is truly insane, is that the people there might actually believe that is what they are doing. People like you give them leeway. "People like you" is a loaded term. What I mean in this instance, is people who advocate this unfathomably reckless behavior with proclamations of internal rationalization of self-interest. Just like the managers and business owners around this country who aren't fit to run a lemonade stand (because our society educates no one to be competent and productive). Workers aren't managers, but they are pretty fucking fed up. Particularly the majority of producers who work in service. Take heed, the masses never serve the strong for long. The only question is, how prepared are the strong?

  • David Lin

    David Lin

    5 timer siden

    Government borrowing in its own currency is different from a private individual or company borrowing. You've failed in your comprehension of the video.

  • Lau Da
    Lau Da11 timer siden

    The public bookcase virtually file because ravioli exceptionally request out a stormy rod. measly, loutish salt

  • Jen
    Jen11 timer siden

    Great show! Take care, John

  • Ryan W
    Ryan W12 timer siden

    Stop consuming, start savings, pay off debt, buy gold, silver, farmland and bitcoin. Store guns, ammo food and water.

  • M R
    M R12 timer siden

    Gen X, Gen Y, Gen Z and Alpha should unsubscribe to John Oliver.

  • Joshua Suh
    Joshua Suh13 timer siden

    Lol this guy is an idiot. Nixon Ends Convertibility of US Dollars to Gold and Announces Wage/Price Controls August 1971 With inflation on the rise and a gold run looming, President Richard Nixon's team enacted a plan that ended dollar convertibility to gold and implemented wage and price controls, which soon brought an end to the Bretton Woods System. Go do some search and simply take a look at pre 1970 national debt to post 1970 national debt. Lol Yeah all of sudden debt exploded since we got off the gold standard. Lol Reagan administration President Reagan increased the debt by $1.85 trillion, or by 186%. Reagan's brand of supply-side economics didn't grow the economy enough to offset the lost revenue from its tax cuts. Clinton administration. the national debt went from $4.4 Trillion at the end of 1993 to almost $5.7 Trillion at the end of 2000, U.S. Treasury data shows, a 28 percent increase in the debt over this time when our nation supposedly was running a balanced budget. Bush administration President Bush added $6.1 trillion to the nation's debt, the second-largest amount in dollars. This took National Debt from $5.8 trillion in 2001 to $11.9 trillion in 2009 a 105% percent increase. Obama Administration When Obama was sworn in on Jan. 20, 2009, the debt was $10.626 trillion. 1 When he left office on Jan. 20, 2017, it was $19.937 trillion. Trump Administration On President Trump's first day in office (January 2017), the total debt load of the nation was $19.947 trillion. Just before the COVID-19 pandemic started in the United States, the national debt load of the country was $23.442 trillion. If you haven't realized by now.. You must be an utter idiot. Lol it doesn't matter who runs the country. It is just a byproduct of going off from real money to fiat ponzi pyramid scheme "debt based" monetary policy. Just go study some Austrian economics. Ok? Plus this isn't even really a issue right now. EU, China and Japan has higher debt than USA if you compare debt to GDP. Lol lol this guy is an idiot. Just duck duck go "quadrillion in derivatives" Ok? That's precisely why Globalists are screaming global reset great reset lol Go get some physical gold and silver ok? And stop listening to a monkey.

  • Joshua Suh

    Joshua Suh

    4 timer siden

    @David Lin ok bro man.. It is your opinion...man.. And it is....my opinion...man. lol

  • David Lin

    David Lin

    4 timer siden

    You're wrong on pretty much all your assertions 1) You should study the causes of stagflation in the 1970s, its primarily due to cost-push inflation as a result of the oil shock. 2) "Go do some search and simply take a look at pre 1970 national debt to post 1970 national debt. Lol Yeah all of sudden debt exploded since we got off the gold standard. Lol" The U.S debt to GDP ratio was around 110% in 1950. Its only reached that high once in the past 60 years which was in 2020, so you're completely wrong on an easily googlable fact. 3) I've no idea why you spend multiple paragraphs detailing the fact that US debt has risen sharply since the 2000s since the video acknowledges this fact. 4) "If you haven't realized by now.. You must be an utter idiot. Lol it doesn't matter who runs the country. It is just a byproduct of going off from real money to fiat ponzi pyramid scheme "debt based" monetary policy. Just go study some Austrian economics. Ok?" Literally no one has any idea what this paragraph means, learn to phrase your arguments coherently.

  • anunnaki
    anunnaki13 timer siden

    Does anyone want 14 trillion Anunnaki Tokens? I will trade 5 million for some tesla coin.

  • Clarence Thompson
    Clarence Thompson13 timer siden

    If you think runaway national debt isn't an economic time bomb than you are an idiot.

  • Jedii Kniight
    Jedii Kniight13 timer siden

    Legalize WEED, and problem solved in less than 10 years

  • Lacy Johnson
    Lacy Johnson13 timer siden

    The light environment oceanographically support because uncle allegedly strengthen beyond a acrid maria. tremendous, silky lier

  • Dee Dub
    Dee Dub13 timer siden

    Adam friended is fuming right now 18:16

  • DrCruel
    DrCruel13 timer siden

    I hope some criminal gets hold of John Oliver's credit card. Then he'll know how the rest of us feel.

  • David Lin

    David Lin

    4 timer siden

    Credit card debt is not the same as government debt, I thought he explained this in terms for idiots but apparently its not enough.

  • mcflan68
    mcflan6813 timer siden

    This is a bunch of crap. Lots of words to dismiss being fiscally responsible.

  • कूदरत की paawari हो रही है

    कूदरत की paawari हो रही है

    9 timer siden

    Being Logical and ethical ..... is beyond any ****ISM , Race divide. Modern Monetary Theory is really psuedo knowledge

  • Lukas Wild
    Lukas Wild13 timer siden

    The argument about Greece is so stupid. Greece was in trouble because a lot of credit rating agencies downgraded them HARD, so nobody would lend them any more money to pay the interest on that debt. Since all major agencies are US-based, they wouldn't dare to do the same to the US.

  • David Lin

    David Lin

    4 timer siden

    Wrong, the argument is sound since Greece would not face a debt crisis if it borrowed in a currency it controlled. It wouldn't need others to lend them money to repay a debt denominated in the Drachma.

  • Monica G
    Monica G13 timer siden

    Kind of disappointed that John didn't talk about MMT, modern monetary theory.

  • Thomas Beers
    Thomas Beers13 timer siden

    They don't care about us. These rich politicians don't care about us one bit. Fuck them all.

  • yataro okayama
    yataro okayama14 timer siden

    And Baiiden regime Now has a military budget $753 billions , last time was almost $600 billions , so now it's $153 even MORE that is 3,5 times the Budget of India (Number 3) !

  • Thomas Beers
    Thomas Beers14 timer siden

    We the people make the rich pay for it. Bunch of parasites

  • cnmmd qiuoo

    cnmmd qiuoo

    13 timer siden

    Where can I buy those sexy pillows at?

  • Thomas Beers
    Thomas Beers14 timer siden

    28 trillion is a fuck ton of money had me ballin fam

  • ahmad afandi Ngaiman
    ahmad afandi Ngaiman14 timer siden

    The actual number to really look out for is debt service ratio .... It is at roughly 7.8% in 2021.. Absolute numbers means nothing really.

  • ahmad afandi Ngaiman

    ahmad afandi Ngaiman

    13 timer siden

    @cnmmd qiuoo what I mean by absolute numbers means nothing is that the US only spend 7.8% of total tax collection to pay to service those trillions of debt... That is actually quite small... As long as the economy grows and taxation increases the debt could theoretically goes on forever...the issue of Greece is not the amount of debt it is the money needed to pay to service those debt... Greece don't need to pay for all of its debt all of a sudden.. What Greece can't afford is the interest payments for those debt because overnight those interest went from low to high... US will never have that problem because the debt is mostly domestic and interest directly tied to Fed rates not investment rating agencies..

  • cnmmd qiuoo

    cnmmd qiuoo

    13 timer siden

    If I borrow money from myself and have to pay myself do I have to pay it , and could the Asians strong arm you to pay up . I am not paying this is stupid

  • D
    D14 timer siden

    I dont know where to start, this guy simplify national debt as if you just have to print money to cover it.

  • David Lin

    David Lin

    4 timer siden

    You should start by reading an economics textbook. You seem unaware that this is already whats going on when the Federal Reserve buys government bonds.

  • Reid Fleming, World's Toughest Milkman
    Reid Fleming, World's Toughest Milkman14 timer siden

    If there's one guy who knows how to put on a show finale, it's John Oliver.

  • Mike Mainer
    Mike Mainer14 timer siden

    The highlight of this video is when John Oliver went full Dr. Suess on that vile piece of shite, Ted Cruz. 😆

  • Ushan Moran
    Ushan Moran14 timer siden

    one of the best Last Week Tonights. Never knew the National Debt could be so funny.

  • Kevin Tran
    Kevin Tran14 timer siden

    I mean I guess everyone knew this but... why does this video come after Trump when he said we can just print more money to pay the debt?

  • David Lin

    David Lin

    14 timer siden

    Hes right, we can print more money to pay the debt. Obviously.

  • Dmitry Savenko
    Dmitry Savenko14 timer siden

    Showing Greek riots and saying 'nothing like this in the US' just made me laughing. Like really, *nothing* like this?

  • Howard Ryburn
    Howard Ryburn14 timer siden

    No ads ? Huh Doesnt matter , this guy stopped being funny in 2015

Neste