Should the U.S. Government Balance Its Budget?

You've probably heard a politician say, "If a household can balance their budget, then the federal government should, too!" But it turns out to be a bit more complicated than that...

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Two Cents was created by Katie Graham, Andrew Matthews, Philip Olson CFP® and Julia Lorenz-Olson and is brought to you by PBS Digital Studios. We love dropping some knowledge on all things personal finance and helping you make better money decisions.

Two Cents is hosted by Philip Olson, CFP® and Julia Lorenz-Olson, AFC®
Directors: Katie Graham & Andrew Matthews
Written by: Andrew Matthews
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[MrApontjos]

It's easier than most people believe, just do beans and rice, rice and beans

[carolea]

The government needs a 2nd job to make ends meet.

[DrBeauHightower]

In the long run we're all dead is let's let our great grandkids figure it out. It's the same abandonment of responsibility attitude we've taken towards climate change.

[Helpful_Corn]

"We haven't seen a meaningful increase in inflation." Speaking too soon, I see.

[Je.rone_]

Wait does the average American have a balanced budget🤔

[totalolage]

What fraction of politicians is realistically going to think on a scale longer than their term? It's like having a guest over and getting them to plan out your expenses for the month.

[thomaswilis]

I feel like they could have talked about the dollar’s special position as the world’s reserve currency and how it relates to the US’ ability to “borrow” without consequences

[emmanuelhenry]

ITS SO UNFAIR ON HOW THINGS HAS TURNED OUT TO BE DUE TO THE RECENT WORLD PANDEMIC THINGS HAS BEEN SO DIFFICULT

WE SEE COMPLAINS HERE AND THEIR ON SOCIAL MEDIA FROM DIFFERENT PEOPLE IN DIFFERENT COUNTRIES ALL AROUND THE WORLD

THE GOVERNMENT HAS LESS OR NO TIME FOR THEIR PEOPLE

I THINK WE'LL SHOULD TRY TO ENGAGE IN DIFFERENT THINGS TO MAKE MONEY AND STOP HOPING ON THE ECONOMY

[luisfilipe]

“We haven’t seen a meaningful increase in inflation” oh boy how things change quick

[sminthian]

Can you guys do a video on this whole Gamestop thing?

[carlosdj]

Here is the complete quote for context: "In the long run, we are all dead. Economists set themselves too easy, too useless a task if, in tempestuous seasons, they can only tell us that when the storm is long past the ocean is flat again."

[swampcrawlerls]

I read the title and laughed a little bit.

[burper-oetm]

It’s really amazing how with every argument for one side, you would immediately counter it remaining very unbiased

[gabrielchaimowicz]

Really nice when you guys talk about economics instead of finance! Im not even from the us, but the content is universal

[samcohen]

This topic has interested me for so long. Thank you for making a video on it!

[matiasl.ceballos]

Here in Argentina we were printing money and giving it to people for decades now...and here we are. Sooo, be carefull.

[noahpeterman]

I love the QA sections at the end of each video, but can you give a brief reminder as to what the previous video was about?

[TripleZesty]

US should absolutely not run large surpluses. People want to invest in the US. It’s a safe bet. Run deficits to pay for infrastructure and research, and the deficits pay for themselves. We only need to keep the debt payment lower than GDP growth. Trying to balance the budget is just throwing money away, which means throwing away citizen wellbeing.

[brentsievers]

Best channel on youtube smacking down the deficit hawks

[DanaYi]

Massive congrats on 500k! Been watching for a while and have learned a lot!