The Heart of the Economy: Understanding America's $35+ Trillion Challenge

Financial expert Leisa Peterson unravels America's looming debt crisis that is gaining attention around the world. In this eye-opening episode, she breaks down at a very basic level what's happening with the U.S. debt and what we can do going forward to build a better tomorrow.

By watching you'll learn how:

--The Wharton Budget Model prediction giving the US only 20 years to avoid economic collapse
--Abandoning the gold standard in 1971 set the stage for our current predicament
--The vast scale of our $35 trillion national debt (it would take over a million years to count!)
--Why both Democrats and Republicans share responsibility for this crisis
--The puzzling lack of public concern despite the ticking economic time bomb
--Practical steps every American can take to demand action and prepare for potential outcomes

Leisa doesn't just outline the problem – she offers a message of hope, calling for unity and innovative solutions to secure America's financial future.

Whether you're a financial expert or just starting to learn about economics, this episode provides crucial insights into one of the most pressing issues facing our nation.

Tune in to understand the debt crisis that affects us all and discover how we can work together to defuse this $35 trillion time bomb before it's too late.

To understand the way the money is being spent as of April 2024:
1. Social Security: Typically the largest single item in the federal budget, around $1.2-1.3 trillion annually.
2. Medicare: Usually the second-largest item, approximately $800-900 billion per year.
3. Defense: The largest discretionary spending category, around $700-800 billion annually.
4. Interest on the Debt: As we discussed, projected to be about $750-800 billion for fiscal year 2024.
5. Medicaid: Roughly $500-600 billion per year.
6. Income Security Programs (including unemployment compensation, earned income tax credits, etc.): About $300-400 billion annually.
7. Veterans Benefits and Services: Approximately $250-300 billion per year.
8. Education: Around $100-150 billion annually.
9. Transportation: About $80-100 billion per year.

Sadly this entire system is based on the idea to postpone these problems until they are no longer a problem of those who are alive but someone else's (spending money that is not ours but is the problem of our future generations) The problem is that that time has come.

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Other videos that teach about the economic risks and how money works, go to:

Wharton finance professor sounds the alarm on soaring U.S. debt

"You're Being Slaughtered & You Don't Realize It!" - US Dollar Collapse | Raoul Pal vs Peter Schiff

Please suggest other videos you've found helpful in the comments. Subscribe to get access to new videos when they come out.

What questions or comments do you have for me? Thank you!

[JoyceBone]

I urge every person who watches this to share it on their social media pages. Every citizen needs to understand the gravity and reality of what is happening.

[marilynbarrett]

Very powerful Leisa! Thank you so much for this. I want to hear more!

[hannathehappynomad]

Thank you for talking about it! As you predicted, my question is how to preserve the wealth I have and also help my kids to go through the default as they are still kids. Of course, preventing is better, but realistically it's not in my hands. Most Americans are in debt themselves. That's the topic i would love to hear from you! Maybe you can share the instuments you use to hedge agains the default. Thank you!!!

[deanna]

Really thoughtful look at a serious issue. It feels a bit overwhelming much like the growing divide we see happening in politics these day like you've shared. I know it won't be easy, but we need to start somewhere. Right now we're being divided by the extremes on both sides. Maybe this is a shared problem that can bring us together to be more collaborative in general. Thank you for speaking up and shining a light in a dark place.

[thomasrogers]

WE AMERICANS ARE NOT CAPABLE OF HAVING GROWN UP RATIONAL NONE POLITICAL IDEOLOGY INFUSION DISCUSSIONS INTO THE CONSEVSTION. WE ARE AT WAR WITH EACH OTHER AND POINTING FINGERS AT EACH IS MORE IMPORTANT THAN SOLVING THESE PROBLEMS. POLITICAL TRIBALISM AND OUR IDENTITY IS NOW TIED TO OUR POLITICAL PARTY AND IDEOLOGY. WE REFUSE TO ACCEPT THAT WE ARE ALL AMERICANS AND WHEN THIS SHIP GOES DOWN WE ARE ALL GOING DOWN. NO WE ARE NOT GOING TO SOLVE OUR GOVERNMENT DEBT PROBLEMS AND MOST OF US ARE IN DENIAL OF HOW BAD OUR ECONOMY IS.

[thomasdarlington]

Categorally disagree. Consider that the two worst economic disasters of the 20th and 21st centuries, the great depression and the 2008 great recession were caused by private debt. The public debt had nothing to do with them. Indeed before the great depression the federal government ran a surplus.

Also keep in mind the most of the 'debt' by which we mean treasurey securities are held by Americans via pension and mutual funds. In other words the US debt is private sector savings.

We can worry about the debt, but I say it's more problem with interest rates. We don't need to pay such a premium to treasury holders. This is a problem, but it has a different solution than just slashing the debt.

[thomashuston]

Keep it short and simple. This debt CANNOT be retired. The dollar will crash, the debt must be defaulted on for the sake of my grandchildren. 😮

[thomasrogers]

LISA YOU MAKE TOO MUCH SENSE AND THEY ARE GOING TO CALL YOU WOKE AND LIBERAL.

[christinenelson]

you describe the problem, but until you clearly define the solution (besides talking about it) you are just another chirp chirp!

[hashimthedream]

BRICS Nations have studied your nefariously warped economic approach for 100-years and BRICS is emphatically more benevolent… You lose so-called “Economic Experts”. As incompetent as American “Financial Experts” claim those who run the economy are, one would think they’d welcome BRICS as the second coming. Hey “Financial Experts” since the inevitable is upon us (i.e., BRICS). How can a Sovereign Individual in the US join BRICS? Or are you “Financial Experts” simply waiting on the incompetent leaders in the US to push the button? BRICS and De-Dollarization means: Bill Gates, Peter Schiff, Tom Bilyeu, Warren Buffet, Elon Musk, Kamala Harris, Donald Trump, all US Congressional Representatives, all US Senators and Jeff Bazos will be forced to report to Skid-Row like everyone else. BRICS, THE GREAT EQUALIZER!!!

[ms]

BITCOIN is the answer. The people that do not understand this digital asset that is decentralized and global....will end up buying Bitcoin for the price they deserve. Mark this post down!