Deficits & Debts: Crash Course Economics #9

What is debt? What is a deficit? And do these things have different outcomes for individuals and nations? Adriene and Jacob answer all these questions and more on this week's Crash Course Econ. Deficit and debt are easy to misunderstand, but luckily, they're also pretty easy to understand. This week we'll explain what deficit and debt are, and talk about what the sources of deficit and debt are for the US Government. Also, we'll take a very special trip to Cliffordonia to try and understand these concepts and get a look at what a colonial-era space program might have looked like.

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[joemyk]

Host: What if a global pandemic...
Me: *pauses the video and jumps to comment section*

[kamarassakka]

did she just single handedly predict the corona virus

[federicopavone]

Someone watched the pandemic part and thought "here's the big idea I was lookin' for"

[mollie]

What if there’s a pandemic that whites out half the population ‘What if’ yeah *nervous laughter*

[LisyRuiz]

i’m from the future. the epidemic thing was right 🦠 zombies still tbd. 🧟‍♀️

[scorpisces]

when she said pandemic, I double-checked the date this video was uploaded (2015), and then I almost pooped my pants.

[julianceballos]

She totally predicted the corona virus, that was the craziest thing ever. In conclusion we can expect the debt to continue increasing and making it difficult to pay off. Mathematically it would be more difficult but not impossible. I am still optimistic about this situation.

[EhXKoRR]

Lots of people stuck in quarantine suddenly interested in economics I see

[kffjmcu]

*Main outtakes of this lesson*
1) _Budget deficit_ - the amount by which a government's spending exceeds it's income over a particular period of time.
a. _Debt_ - the accumulation of budget deficits.
b. In the same way our GDP grows every year, due to population growth and productivity increases. And our ability to sustain debt grows along with our income.
2) _"Default"_- the investors who loaned the government money lose billions and the government loses all credibility, and it causes massive recession.
3) _Debt ceiling_ - limit on the amount of national debt that can be issued by US Treasury.

[WickerMan]

Watching this to study for an econ test during the COVID-19 pandemic is... interesting

[vaibhavjadhav]

This comment was made during Coronavirus pandemic. Will look forward to see this back after years.
God bless you 🙏.

[bharathharikumar]

"Global pandemic"
*Evil laughter* from adrienne hill

[jackruefli]

6:42 did they show a coronavirus cell? Wtf

[hithisismira]

**Watches this while in covid lockdown**

[williamvanlaere]

Did anybody else realize that disease was the Corona Virus? Damn Crash Course predicting the future....

[AVNJ]

Crash Course with some more AWESOME economics stuff! Our generation is lucky to have these videos!

[sparshporwal]

The US debt now stands at more than 31 trillion dollars and the debt ceiling has just been raised. Awesome predictions!!

[sayebkhan]

This definitely aged well with Adrienne telling us how boomers are the problem and then predicting a pandemic and now we're in a pandemic that will eliminate the boomers. Maybe after all this will be beneficial to the economy

[marcelloascani]

I'm italian, i didn't know italia was so bad!

[SynThenergy]

MIND BLOWN! Government debt as a percent of GDP? that's such an fantastic way to evaluate things! This is an awesome educational series