Ep. 14 | The National Debt Series | Paying Each Other's Bills

We’re not investing in our future—we’re just paying each other’s bills.

In the latest video from the National Debt Series, I break\ down a startling truth: 71 cents of every federal dollar now goes to direct payments, not national defense, not infrastructure, not growth. Watch now to see how we got here.

Transcript:
Hello America. Back to the working man's guide consequences of the national debt. That's what we're discussing.

Now I've flipped out charts here. I'm going to go to an OMB chart Office of Management and Budget. This tracks the percentage of federal outlays in which category they fall into. So we track that month by month, every dollar is spent by the federal government. What? What does it go to in payment? This tracks the percentage of federal payments that go to direct payments, individuals, social welfare, direct payments.

I want you to notice a couple of things in 1952 following World War Two, that was at 13% and then you can see it's almost a straight line, some variation, but a straight trend, up to today's value of 71% so we went from 13 cents on the dollar, the girl outlays going to social welfare, Direct Payments. We are now at 71 cents per dollar going to individuals. That's a significant implication regarding our debt. That does is create a squeeze. We have done this on debt.

We've done this on the national credit card. Well, rather than investment expenditures such as winning wars, national security, etc, things like that.

We're paying each other's bills. That's what we have done. Well, you paint yourself into a corner. We cannot afford to do that on debt. We need to get back to a very simple maximum. Each of us needs to make our own money and pay our own bills. You S. That's a very simple conclusion, we put ourselves in a jam. By doing this on credit. Thank you very much.