the presidency and the national debt since 1972 the first year that I could
vote in a presidential election when I became 21 this is trip and I hate to be
like the the professor and be pointing at the board here especially for you
young people who are in still in school or just got out maybe not so many years
but that's what I have to do because this is more complicated this is every
presidential election since so in 1972 to 2016 when when Trump beat Hillary
Clinton and when we talk about the national debt we're gonna talk about
both the debts combined there's the public debt that's the debt that that
you can buy on the marketplace and pension funds by foreign governments
like China which own so much of our debt and their the part of the dead is called
the intragovernmental debt and that was kind of weird is the money that the
government owes to itself well the biggest accounting book on took
was called municipal or governmental accounting it was a huge book and it was
incredibly boring and incredibly long so inter-governmental dead is like Social
Security Medicare and Medicaid most of the entitlements but we're going
to add the public and the intragovernmental debt together and just
call it the national debt that's what most people think of when they hear
their word dead when I first abetted you could see it was four hundred and twenty
seven dollar four hundred and twenty seven billion dollars and when Trump
beat Hillary Clinton it was almost twenty trillion dollars
well since that time has gone from twenty three and it just passed twenty
one trillion the debt the the interest on the debt is about four hundred and
fifty billion dollars which is almost the same as the as the entire debt was
in 1972 well that four hundred and fifty billion
dollars is the same right now as it with about twenty three or twenty
one three and of death is the same now as as interest
was when the debt was was less than half as big it at a near ten trillion dollars
went back when Obama beat McCain Obama first elected the reason for that is
because the Federal Reserve has been keeping an interest rate so so low in
this big experiment that the rates are never this low or this long since the
Great Depression that's one reason the other reason is what they call the qae
the quantitative quantum or quanta QE quantitative easing that's where the
government basically just kind of prints money you've probably heard about that
they just make bookkeeping entries and magically it populates the than any of
the banks and everywhere so that's real complicated and if you understand it
that's probably bad because it's a sad that we have to even be explaining it I
quantitative easing has been it's four hundred four and a half trillion dollars
of it is already out there and that's one reason that real estate and stocks
are so high now I think it's in a bubble but they said this doesn't get into all
of that 772 Nick Nixon beat McGovern and
McGovern was the youth candidate and I did vote for McGovern very feet hardly
anybody else did and in Burnout County there were about two or three thousand
people that voted Nixon and maybe a couple of hundred that they voted for
McGovern the young people were so involved in that campaign just like in
2016 a lot of the young people were really supporting uh the Bernie Sanders
and they were all tearful and sad and every Bernie lost but you know what we
got over it back in 1972 when McGovern lost to Nixon and y'all need to get over
it now because Trump Donald Trump is now the president back then as you may be
studied in history Nixon got impeached then along 76 came
Jimmy Carter Ford succeeded Nixon when Nixon was impeached
well Carter beat Ford and then in 1884 Reagan beat Carter in Mondale and the
debt was up to like about a like a one and a half trillion dollars and then at
the elder Bush beat Dukakis they said by the way these are these are democrats
and republicans here that's what that means of course and then we come along
to in 1992 Bill Clinton and 96 and Clinton beat both the bush and dull well
the debt was five trillion it was five trillion dollars in then we come along
to to a younger Bush and that Bush beat gore and Kerry
so then Obama beat McCain in 2008 and that's when it was ten trillion dollars
and it's by the way it's not all Obama's fault you know the Congress has to go
along with it the Democrats will always go along with any kind of spending you
think the Republicans are supposed to be the party of conservatism and fiscal
fiscal values but I don't really have a lot of hope for that and once you once
you espouse those conservative fiscal values you'll be voted out of the next
election so the American people won't let you stay though naturally gravitate
toward more spending and and Democrat the Democratic Party and the Democrats
of course of control of the government mostly since the since the thirties so
anyway Obama against McCain there and then I bomb them beat Romney and by the
way oh wait was the first presidential election that I did not vote in I felt I
felt bad about not voting but McCain I knew that he just wanted to spend there
anything he never saw a defense program he did not like just like Obama never
saw a social program that he did not like neither one of them I believe we're
really good for the country and I was right I think so
16 trunk beat Clinton in here we are ripped to 19 trillion and today we've
already added another about a trillion and a half more he has up to as a poem
March of 2018 so basically it hasn't mattered who the president was or which
party you see the national debt continued to increase I see it
continuing to increase no matter who is in power until there's some kind of big
fiscal emergency and then that will get all of our attention very quickly for
the all the wrong reasons but anyway this is triple hope you will subscribe
to my channel and and please comment below if you want to thank you
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