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Government Spending Has Bankrupted the US

Peter Schiff on NTD 8/30/23

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Written by Peter Schiff

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49 Comments

  1. Kamel Back Hair A$$ … her finished "statement": American families are $400 away from Bankruptcy … Bankruptcy is within $400 for American families … If American families had an unexpected $400 bill, they could go Bankrupt … Bankruptcy is not good for American families especially if they have an unexpected $400 bill … a $400 bill, unexpected or not, could bankrupt most American families … Did I forget to say Bankruptcy is bad … for America Families … with a $400 bill .. that's all I can say about American Families … $400 bills … and Bankruptcy …. another word salad gone bad ….

  2. The US government borrows more money and does this by printing money out of thin air.

    This causes inflation.

    The US government raises interest rates to fight the inflation.

    The increased interest rates cause high interest payments on the debt and slows down the economy.

    The US government refuses to raise taxes to cover the interest payments. So it borrows more money and the cycle continues. It's a death spiral.

    Never should've borrowed money in the first place. Stupid is as stupid does.

  3. That government spending has not been on value-creating public infrastructure such as education, healthcare, food, but on destructive weapons and the military-fossil fuel-pharma-tech complex–the main benefactors of the politicians and, thus, the main beneficiaries of government spending

  4. Peter has been doing a great job of the highlighting the loss of manufacturing and productive capacity in the US as a result of the fiat currency system, but simply "reducing regulations" will be no where near enough to allow the US to compete again, the tax burden on manufacturing must be dramatically lowered as well.

  5. I’m favoured! Despite the ups and downs in the economy, I'm so happy withdrawing $32K weekly profit out of my investment I just cleared my mortgage 7 months ago and I give back 20% of my weekly interest back to Charity. People should learn to invest more and spend wisely than waiting on the Government

  6. Aside from what Peter has outlined in order to fix the economy, we also need a media that will actually report facts as opposed to editorializing and putting their often misguided spin on things. How can you make proper decisions when you're being fed some other interest group's narratives?

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