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[–] MaFishTacosDaBombBro 3 points 5 points 8 points (+8|-3) ago
The amount of debt isn't caused by the presidents. It's not Bush's fault, or Obamas fault. People are pointing fingers at the wrong leaders. It's really the federal reserve and how money and bonds flow from the treasury, the federal reserve, the banks, the IRS, and tax paying citizens of the USA. Our currency is based on debt, and in order for the financial system of today to work, more debt MUST be created everyday, or else it'll all crumble.
You don't need a Phd or any education to understand how this system works. All you need is 30 minutes to watch a youtube video, and you can be an expert on how our financial system works today. I watched this a few days ago from another post here on voat, and it really provides everything you need to understand why the debt keeps going up and why it needs to keep going up or else we're all in a bad spot.
[–] lakeyosemit [S] 0 points 1 point 1 point (+1|-0) ago (edited ago)
I agree, but your own video shows the effects of increasing debt: Inflation and a step closer to an inevitable collapse. The video makes deflation sound a lot worse than it is. It shows how inflation increases prices, but not how deflation decreases them.
[–] MaFishTacosDaBombBro ago
I think there's a few more previous videos that go over that. I agree though, deflation would cause prices to go down. At this point though, I'm not sure that can happen.
[–] Benweiser22 0 points 1 point 1 point (+1|-0) ago
Nice try Obama
[–] DickHertz ago
All spending is controlled by Congress. It's just that simple.
[–] B3bomber ago
In the end it isn't a sustainable system but yes, that is the system we have.