With the national debt of the U.S. just about to hit $23 trillion, it is starting to be talked about like a bomb ready to explode. Donald Trump ran for president on the pledge to "Eliminate the national debt within 8 years". Almost halfway to his self-imposed deadline, it has actually increased.
In raw terms, Trump added the second-most debt of any recent president. Obama added about $3.5 trillion in the same amount of time that Trump has added just over $3 trillion according to the latest numbers from the Treasury Department, with the slight difference that Obama took over when the economy was in free-fall and Trump took over when it was very strong. Trump's promise that the tax cuts for the rich would help pay down the debt in this era was obviously complete horseshit.
The U.S. is over $3 trillion more in debt than it was when Mr. Trump entered the White House. In nearly three years, it rose 15% — from $19.9 trillion to $22.9 trillion, according to the latest numbers from the Treasury Department. Economists are arguing what the tipping point is that will cause the U.S. economy to simply collapse. Time to buy a bunker, stock it with end-of-world provisions, and buy Alex Jones' supplements. People outside the top 5% will feel it in a big way instantly but it will "Trickle up" to everyone.
The Prager U vid is 4 months old but well put together.