The United States is on the path to financial catastrophe.
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- čas přidán 11. 06. 2024
- Continuing to spend massively more than we take in each year-adding on to our public debt-cannot go on forever. The United States is on the path to financial catastrophe unless we put partisanship aside and produce constructive and honest solutions to stabilize our debt.
Thanks for the news flash Mitt, but you’re a few decades late.
Romney is guilty of spending us into oblivion.
I thought it was into Skyrim
Are you talking about Mitt Romney or Congress in general?
@@DJHA-jp5xp all of them are guilty af
Maybe if we didn't spend an abhorrent amount on our military and foreign wars, this wouldn't be as big of an issue.
The current wars are concerning! Do a search for "Why it's important to fund Ukraine", and you'll learn it protects otherwise "'destabilizing impacts on global security' that stretch 'far beyond the European frontlines.'"
Also, look up how much more we'd get in tax money if rich people weren't continuously given credits, rebates, and loopholes, which they've stolen amounts in the trillions from us. elon musk and jeff bozos both makeout, along with many other uber rich people and companies, and all at OUR expense. Those go to our deficit. They make way more than we do, but pay way less in taxes, and trickle-down has been in play since Reagan, but has diminished our paychecks and increased our deficit ever since. I think 40 yrs is too much of a try on that, too much suffering for the rest of us.
Both parties are blind to the idea of reducing the deficit…
Last time it was balanced a Democrat was in office, the year after he left it was skyrocketing out of control. If you cut taxes by $5 you can't spend the $5 you just cut. Simple math.
Social Security should be abolished.
@@rossmurphy3967Why is it wrong to expect to get what you gave into a program and were promised it be given back to you. You make no sense.
@@rossmurphy3967 then do we all get our money back????????
Not true, look it up. Clinton left with a surplus.
Watched part of the Berkshire Hathaway meeting where Warren Buffett said “Our company is in the top 800 US companies and we paid 21% taxes. I have no problem signing the check for five billion because America has made this possible. If one day they need more to lower the deficit, I’ll sign that too. If the other 800 companies paid what they should there would be no need for individuals to pay any income taxes.” He got a big round of applause for the shareholders.
MORE MONEY FOR ZELENSKY
Asinine comment! Make rich republicans like Mitt Romney start paying taxes for a change! Zelensky is a far better MAN than you!
@@jmseipp
@@johnf8338 You shouldn’t be so hard on yourself johnf8338. You’re more than just a pile of Poo! 💩
@@jmseipp
@@johnf8338 You shouldn’t be so hard on yourself for being such a poopster. 💩💩💩!!!
First save democracy and reform the electoral system and Supreme Court so there are reasonable people in elected office who can work across the aisle to hammer out the best possible approach to tackling this important issue.
We are not a democracy we are a republic. Reform the electoral system how?
And make sure those who are responsible are held ... responsible!
Get rid of the freedom caucus. Other than those or the Squad they're already trying. But what do you mean "reasonable"? Do you mean if you don't like them or don't agree they're not reasonable?
Romney has no problem spending on war
Correction: spending and stealing.
And you voted for it
I agree but I believe the debt will continue to grow until even the remedies mentioned will not be enough.
Sounds like Mitt had a moment of clarity.
somebody's finally talking about balancing the budget. as he said we do need to cut excessive spending and we're going to have to raise taxes especially on the wealthiest. just saying.
You do know that if the second round of Bush tax cuts and the Trumps tax cuts never happened there would be NO deficit even without cutting spending over the same time period. The cuts were that massive, thanks GOP.
@@dalemihocik4732bullshit.... look up government revenues during trumps years.
Feelings aren't truths
@@Tom-cz9op You know zip about history and are closed minded to facts. Get a life over there on earth#2.
@@dalemihocik4732 facts are kryptonite to you delusional dems
The USA is well advanced along the path to self-destruction, and has been for over 40 years, other than during 1993-2001. It is because the wealthy have been so successful in pushing back strongly against the efforts of government to get them to pay their fair share of taxes, using their wealth and power through their lobbyists to get politicians to put their interests ahead of the common good of all. The only way to divert the USA from this path is to increase taxes on the rich and use a redistributive tax policy to expand the purchasing power of the great bulk of ordinary people. causing rising demand and economic growth, leading to buoyancy and then great prosperity, moving the budget towards balance and then into surplus. This would solve all of the USA's fiscal problems.
You are quite correct in what you have written.
Does he mean taxing more those who pay taxes now?
Spot on. It can't go on forever. A day of reckoning is fast approaching.
Mitt get up off your Butt..and Take the Repigs ticket..shame on you if you don't save the Repigs party.
On path? Im pretty sure we have already been in catastrophy for decades.
I think Romney meant that some day the US government will not be able to afford its debt payments. That will be a catastrophe because then the US couldn't take out more debt so we'd have to do austerity which would slow the economy. And when the economy slows, the US would raise even less money from taxes. As of now the US can pay all its debts. But Romney is right that some day in the future that will no longer be the case.
Well sir, I respect you a great deal however the vast preponderance of empirical evidence shows you are quite far off base - if one regularly keeps up with the business and financial news and indicators and what most analysts are stating .....the US is doing very well overall with two caveats....income inequality needs to be addressed desperately so everyone has hope and opportunity....and the national debt does need attention....sure, spend money on infrastructure and rebuilding the US after stretches of negligence , but somehow more attention needs to be paid to the long-term financial health of the country....equity is being hoarded by ultra-rich corporations and individuals and so the wealth is out there.....just re-jig the priories a smidge....and reach out and take just a little more from the insanely wealthy....
🙄...when a corporate raider has a moment if moral clarity ; sphincter boy now realizes he's on the🚢Titanic...
bro he's a professional politician at the national level. these people don't suddenly "realize" anything. they all know the situation, but they admit only what their wealthy powerful donors want them to admit.
@@tohopesAgreed. Politicians say what is popular at the moment while - hopefully - not offending their constituents that re-elect them. These swamp creatures also don’t admit that it was their actions over the years at various levels that got us into this situation. This politician enabled the predecessor to Obamacare in Massachusetts.
End all entitlements.
Thank you Mitt. This is a very urgent and critical matter that is being ignored by our media, thank tanks and corporate leadership
Someone tell this incredibly rich man that we've been there for a while
Mitt is part of the problem.
Remember when his hedge fund bankrupted ToysRUs and KB Toys by saddling them with debt?
This man is the real life grinch.
Eliminate property tax and capital gain tax.
Give people some room to breathe sheesh.
Eliminate property tax? Yes. Eliminate capital gains tax? Absolutely not: eat the rich. And add a well-overdue wealth tax on top of it.
@@genius11433Someone failed, or never took, an economics class.
No to both.
@@AdamBechtol y’all both probably renters 😂
@@AdamBechtol Why no to both?
Thank-You Senator Romney
Way too late 😕
Yes and there’s nothing our government wants to do about it
I heard this story before.
Lower the taxs for the rich.
Take away the benefits for us old folks.
Lower taxes for everybody. The government is learning they have no money for the benefits they are paying out. Selling the child's future so the old can live for free isn't the way the world is supposed to work. Supposed to be the old taking care of the young and passing the baton.
@@joshbren6413 The old, as you call them, have had those moneys deducted from their PAYCHECKS and the government has held those funds for distribution when they reach the age that they can get it back in monthly installments. There is no giveaway of money that wasn't EARNED. Get your facts straight.
@@dalemihocik4732 You tell me if social security and all the payments you get when you turn 67 are enough to even cover a doctors and groceries bill. Mass inflation is causing what they paid in to be peanuts compared to what they're sucking out. The young unfortunately shoulder the costs. The system is clearly broken and they have no money left in every country. Social security will be insolvent very soon in the US. I haven't heard anyone even acknowledge the problems we're facing, only you're not going to take my benefits away. What about the youth who had this forced onto them?? They didn't choose to be born into slavery. I notice this in societies like Italy where the government is in extreme debt, where the kids are forced to work hard labor for little pay to shoulder the costs of the old. This isn't the world I want any child to be living in.
@@joshbren6413 The younger people have time to have alternative retirement savings accounts like 401's. The seniors don't have that luxury of time only the PROMISE that the money and health care would be there for them. Sorry if that doesn't mean anything to you, but it does to us. Every generation has challenges to face we don't owe them anything but a healthy environment. As for living on those benefits I have been for 16 years after retiring at age 55. People need to learn to live within their means and be content or keep working. It's their choice not mine or yours to make. The elected in government know of the shortages to come, vote out the ones that are there only for a paycheck and vent on them to make changes.
@@dalemihocik4732 Younger people in 2024 have less opportunity than ever before. Real estate is in the biggest bubble in the history of the United States so young people have nowhere to live. Look at the average job and tell me if anyone wants to work it especially with that kind of low pay. The only solution is to start your own business and luckily that provides a pathway. They shove a $200,000 degree in your mouth that 90% of the time won't do you any good. What are you talking about that "we don't owe them anything but a healthy environment". Your generation even failed on the environment. The whole purpose of a human being is to care for their young and give everything to them including their life. The reason you even are where you are is because of someone else before you. The problem is this older generation spent spent spent and didn't actually do their job. They did nothing but spend and promise things they don't have. The seniors surely have had PLENTY OF TIME to save up and plan rather than the younger person who gets spit out into the world with nothing. The elected in government I can assure you are not worried about budget deficits if you've even paid attention the last few years. The fact you think they are is worrisome. You trust in government way too much without doing the research. Voting out who? So you're saying the ones who stand up for the next generation and do what's right will be voted out. Now the government is in seriously bad shape in 2024 and people will pick political sides when that won't do anything. The problem is at the foundational level, in the root of the country. You have to stop somehow pushing all this debt onto the next generation. Maybe technology and innovations will help design a pathway to eradicate this debt so our future generations can live debt-free. Maybe a war will break out to erase the debt. Maybe you just keep running up the debt and if no one cares, then you're good. I'm working on it and I will not end till I see children being born in this world not only debt-free but plenty of aid at their side to let them live a pleasant life. I wish you luck and a good life. We're all lucky to be born in such a great time with huge breakthroughs and we push our race forward, all as one.
How Morman-ish...
All talk and no action. Tax the mega corporations and the ultra ultra wealty, that's a start to show us you're serious, and we'll go from there.
So, eliminate Trump's corporate tax break.
Don't forget the wealthiest must pay their fair share too.
Look up government revenue during his term. It sure didn't make any difference.
After 4 years the revenue from corporations actually became larger under 21% taxes versus the 35% before, because the companies did so well so their profits literally exceeded so much that they could pay even higher taxes in total. In essence your statement is false
HI, @davidwebster9788, thank you for your comment. I agree with you fully, doing so would be a start.
@@Tom-cz9op Not so. If the second round of Bush tax cuts and the Trump tax cuts never happened there would be no deficit even with no change in spending during that period. The cuts were so massive.
Agreed and thank you Mitt but you need to comment on the Maga cult and criminal leaders recent proposal to increase Tarifs while lowering corporate tax. Frankly from where I am sitting it seems suicidal!
Senator Romney is a great American and level-headed on this topic, BUT he's mostly inaccurate on this economics. There has never been a public financial crisis in his lifetime (other than when the Republicans made default a possibility just by willing it so), but there have been several cause by private debt. The US has never had to pay off the entirety of its debts through cuts in spending during Mr Romney's lifteime (we certainly lowered taxes during it), because the US economy has grown of the previous peaks innspending. Besides, most public debt and the associated interest payments are going directly or indirectly to US households. It's kinda like running a small business that, because you pay yourself more than the business can afford, you have to dump more money back into the business.
What's actually seeing more USD leave the economy is our trade deficit. The US should be taking on more public debt to invest in energy and tech for AIG, security of that technology, and re-establishing the US as the exporter of high-end aerospace, transportation, defense, and consumer electronics. It takes time, money, smarts, and effort to be the best in a competitive world. We're the best positioned to fill that role.
Romney, spitballing.
Don’t worry folks, everything is fine.🤥
Did he vote for the trillion dollar inflation reduction act, did he vote to send 400 billion to UK, did he vote for 5,000 illegal a day to enter and be cared for? Talk is cheap.
hmm, only 30 or 40 years late on that one.
the good news is that deficit spending and printing money helps inflation rise
hahah, khi thang tho phi sap het tien xai thi no se lam gi??? hieu nhung gi da xay ra gan day chua DD
Gee what a surprise 😮
The US hurt itself in confusion
Go Pikachu
Crazy that the debt increased 40% while Trump was in office.
Hmm… 🤔… so the 21st century will not be an American century after all 🤔
He is exactly CORRECT
spending on Army but not homeless in usa...u know what that's mean..
Yeah right! This is the dude who voted for every single expenditure involved in Iraq, Afghanistan and of course, now, Ukraine. Oh but he wants to save money.
We don't have to look into history for examples of this, just look at Zimbabwe and Venezuela.
Its a hard thing to consider but not good to ignore
Or most of socialist Europe 🤢
But the worst thing is that someone has to make a video on something so obvious...
Your nation is in the middle child seat abd is bent from carrying the older abd youngers on eithe side.
Yesterday a frustrated message cane throughout the youtube world - you have all the LEAST able bodied people ruding the bus to do their grjcery shopping too far away from normal and there are far from rnough strong bodies doing the sane work. Theres no landscaping for the people who need it most. For that youll have to get the strong easy to kiss on ones to put a backpack on and once a week (at minimums, psy the 1 way to go SLIDE A CARD to buy 4 more bus tickets so the main frame of the terrain can get a purposeful loop swrved whats missing from it ~ the pount of NUMBERS ON CARDS. Not quien es mas Nacho machine, the able bodies are doing a hypocrite thing because the fellowship too far away needs to know they can't do that job (title) from there. From there thryd be titwillows until they notice they arent making sure things get done - the walkers and the ones who are seen on the ground zero are the ones doing the real assuring the little roads get lifestyled somewhat without charging the people of the point to nove out first. No, you can't catse that here. Hire some government up. WWJS if in our shoes? Feel this exasperated? Amright then we see ete to eye. This is too lottle for so much to do about the grounds.
Propaganda cant take a far back seat for the coming decade. Cocoa doesn't grow here and we dont need to make a stage of the town.
PS: They aren't cowards out there, they're insistent meet-up handlers.
NEVERMIND the word 'strong' if it puts your ears in someone's TV commercial panties,
The greater point isnt the soda and isn't always the app-- riding
SAY AND DO SOMETHING! Growth in the middle gets the floors off the damp ground so rot doesn't come on.
If I may suggest, hire more people to audit large companies like Trump that declare bankruptcies in order to claim huge tax credits. Reduce the taxes to population and impose higher taxes to large rich companies 💙💙💙💙💙 which is what Biden wanted to do.
Tax the hell out of the democrat elites, billionaires, raise tariffs on imports, cut services and economy spending and let the economy reboot without stimulating it. It will be painful but the only quick way out of rehab. Look up 1920 depression and how fast they recovered by allowing the free market to do its biding without govt intrusive.
Flip voted yes on every tax cut for the wealthy.
Yes and a drunken, blind, deaf and dumb man could see it plainly. "We're going to have to look at both spending and taxing." Yes indeed. The debt iceberg we're sailing full speed ahead towards is growing ever larger by the second. And this ship ain't "unsinkable" either.
What mr Romney says concerns me, having said that this is a worldwide issue. I don't know where the safe haven may be from hyperinflation scenario
Don't tell me it's impossible...
Why did you Matt withdraw from presidential race? Not good for future of US / world
Well said, the real workings of Govt are not sexy but more important, America needs more Romney!!!
Trumpp and the RepublicansTraitors are the real problem.
His party took over after there was no deficit and promptly let grow out of control.
and it is all because of people like you.
Romney is cut from the same cloth as Ross Perot. Both are money men, who would do well in the jobs Janet Yellen has held. But their egos tell them they should be in a position of broader leadership than that, when they really should just stick to what they are good at.
Thank you Mitt. Please keep sounding off.
Hey Mitt! No matter what the issues are, if Donald Trump gets back in office, the deficit will be the least of the government’s problems. Save your country! Denounce Trump in no uncertain terms. You owe to a country that has given you and yours a piece of the American dream.
Hello sir
Tax the ultra-wealthy.
Don't be an imbecile. Look at the representatives you would vote for.
Even if their wealth got confiscated, it would hardly put a dent in the national debt. This problem is systemic and must be dealt with.
@@seekeroftruth1200 Don't let perfect be the enemy of better.
No, stop spending.
@@BlueFalcon-fz6ty And be behind China? You'd really we rather slow down our development as a nation? Weak. Our infrastructure makes us look like a joke and we have the potential to do so much better.
What business dealings did you profit from in Ukraine?
Step down already.
THIS IS SO IMPORTANT AS A YOUNG PERSON I AM WORRIED
GOTTA pay for trumps 230k government pension
He didn't take a salary.
Better than most politicians
Jeremiah 9:23-24
I wish more people like him were in our Government today.
let's do some math. the combined income of the 1.4 million households in the top 1%, is 2.6 trillion. the US Gov't deficit of 2023 was 1.7 trillion. The top 1% already pays 38% of the total income tax, and pay close to 40% of their income in taxes. That's 1.04, leaving them 1.56 trillion to actually take home. We could have taken all the remaining income of the top% and it still wouldn't have covered the deficit of 2023. It's not an income problem. it's a spending problem.
It's not. If the second round of Bush tax cuts and the Trump tax cuts never happened there would be no deficit even if spending over that time remained the same. Clinton left office with zero deficit and the GOP tax cutting went on steroids leaving us in this mess.
But democrats are dumb enough to believe it's wealthy not paying taxes.
It is not about income, it is about wealth. The fed has supported the stock market and reduced the cost of borrowing for the wealthy and the govt through rate suppression and printing. The wealthy and the "spending govt" are on the same side and savors and tax payers are on the other side. Exploding Govt spending and wealth gap have the same source cheap money by the fed.
@@mvs9122 Simple math here, if you have $5 in income you can spend $5. Since the government is tax funded you can only spend the same amount taxes bring in. Has no one here ever balanced a check book?
Start taxing people making over $300,000.00 dollars at a higher rate instead of the middle class and seniors. Make them pay their fair share and quit giving them mega tax breaks every year.
I wish you were President!
You could've been a great president..
Biden think's its ok...😂
I think its all be design, we elect Trump this time to secure the border and bring peace and the next presidential election when our debt is about 120% of GDP we will elect a liberal with a high tax platform to fix SSA and our Debt.
RINO ALERT !!!!!!!!!
And what did you do to stop it, Mitt? I mean, besides running an incredibly feeble, failing campaign against Obama, and losing massively.
If Republicans knew how to act civilized (looking at you MAGA GOP)a lot of Democrats would have voted for Mitt if needed.
Don’t buy that for a second. Democrats aren’t voting for Mitt.
@@GH-xy4zz you wouldn't know
@@Carlossoto-rg5hh
Democrats aren't voting for a white male multi millionaire with fiscal conservative policy tendencies, not when they have a more politically left option available. Its why Mitt lost the 2012 election.
Giving democrats too much credit. Its like hoping Republicans vote for John Kasich or Nikki Haley over Trump.
@@Carlossoto-rg5hh
Democrats aren't voting for a white male multi millionaire with fiscally conservative policy tendencies. Not when there is a more politically more left option available. It's why Mitt lost in 2012.
Giving democrats too much credit. It's like hoping Republicans stop the "election was stolen" narrative.
@@Carlossoto-rg5hh Democrats aren't voting for a multi millionaire with fiscally conservative policy tendencies. Not when there is a more politically more left option available. It's why Mitt lost in 2012. Giving democrats too much credit. It's like hoping Republicans stop the "election was stolen" narrative.
bla bla bla ...
Gee, Mitt...A. It's fair to say you have mastered the obvious. 2. You've been in Gub'mint for decades 2A. You're a genuine pantload.
GO AWAY MITT!!!
RFK Jr 2024 with Mitt Romney as economic advisor
Biggest disappointment to the republican party
RINO
Traitor
Bruh you're the reason it's in decline. Let's hope Trump can reverse this. Trump 2024! 💪🏻🇺🇸💪🏻🇺🇸
Thanks to RINO'S like you...
😒
Now that Trump is convicted felon! He needs to lose his security team! Why should tax payers pay? Vote democrat