How to Solve America's Spending Problem
5-Minute Videos | PragerU
PragerU
4.8 • 6.9K Ratings
🗓️ 5 January 2019
⏱️ 6 minutes
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| 0:00.0 | Both Democrats and Republicans complain about America's national debt, what illumine crisis |
| 0:05.9 | it is and how we have to do something about it. |
| 0:09.3 | And well they should. |
| 0:11.0 | The numbers defy comprehension. |
| 0:13.2 | Currently, the debt stands at around $17 trillion, much of that coming in just the last |
| 0:19.3 | few years. |
| 0:20.9 | To put it simply, our government spent $17 trillion more than it took in. |
| 0:27.3 | That's one huge deficit, wouldn't you say? |
| 0:30.3 | How did it happen? |
| 0:31.9 | To answer that, we have to focus on three programs, Social Security, Medicare, and Medicaid. |
| 0:39.9 | Social Security is a government pension program for people over 65. |
| 0:45.0 | Medicare is a government health insurance program for people over 65. |
| 0:49.8 | And Medicaid is a government health assistance program for people who can't afford to buy |
| 0:54.5 | insurance. |
| 0:56.8 | The debt picture has admittedly become a little more complicated and more severe because |
| 1:02.0 | of the massive increases in government spending on unemployment benefits and other federal |
| 1:06.6 | assistance programs related to the 2009 recession. |
| 1:11.1 | But the big three, Social Security, Medicare, and Medicaid remain at the center of the |
| 1:18.3 | problem. |
| 1:19.3 | In fact, spending in every other area, including defense, all other appropriations and other |
| 1:26.5 | federal entitlements, those significant, make up a smaller share of the economy than has |
| 1:32.3 | historically been the case. |
... |
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