Kick the Can- The Coming US Debt Crisis

Mark Tredecim has published a new video at YouTube in connection with the federal government’s growing national debt and deficit spending. The new video is almost 17 minutes long and can be accessed through this handy link to YouTube: Kick the Can

For many years, the U.S. federal government has spent more money than it received in taxes and other revenues.  It has borrowed to fund these deficits and has amassed over $31 trillion in Treasury debt.  The debt balance is bumping up against the limitation set by law, but the current administration wants to spend even more and to borrow even more money.  To do this, the national debt ceiling would have to be increased by Congress.

But the growing debt levels are concerning to the debt holders and financial markets.  There is growing worry about the government’s ability to meet its obligations and about the other consequences of deficit spending and burgeoning debt (such as hyperinflation and recession, maybe even another depression).  

There is great concern about the nation’s future ability to keep the promises that it has made for Social Security, Medicare, and government pensions. The video’s title comes from the ongoing practice of the U.S. Congress to “kick the can down the road.” This refers to spending money today with debt that will need to be paid in the future, and establishing entitlements (like Social Security, Medicare and Medicaid) without the funding needed to continue them.

This video provides a summary of the current situation and defines key terms used in this political debate.

It then presents a coming day of reckoning, when the government is forced to deal with the debt, or else.  This is presented via an excerpt from the audiobook edition of the novel “The Great New Deal,” by Mark Tredecim.  This short excerpt blends a dramatic story, humorous parody and sound teaching about the end times prophecies found in the Bible.  The story is fictional, but the deficit spending and national debt problems are real.

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