$20 Trillion: U.S. Debt Crisis

$20 Trillion: U.S. Debt Crisis.

Why are so many people upset about plans to raise and remove the United States debt ceiling and why was it created in the first place?

Peter Schiff joins Stefan Molyneux to discuss the history of the debt ceiling, the consequences of eliminating it, shocking U.S. debt interest payments, the U.S. dollar losing 12% of it’s value since the start of the year, outrage over price gouging during the recent hurricanes, the value of a college degree and America’s economic future.

Peter Schiff is an economist, financial broker/dealer, author, frequent guest on national news, the host of the Peter Schiff Show Podcast, the CEO of Euro Pacific Capital and the Chairmain of Schiff Gold.

The main question is if the problem is fixable, can what has happened in the past amendable? At this point it’s going to take a major parallel shift for anything to change for the better. I personally don’t see it happening any time soon, if at all. That’s the price to play the game in my personal opinion. With student debt racking up over 4 trillion dollars I think the debt will continue to spiral out of control until serious cuts are made. Over paid politicians perhaps? Cuts in military spending, something eventually has to give. Please like and share, $20 Trillion: U.S. Debt Crisis.

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