Comments by "DrScopeify" (@drscopeify) on "U.S. Credit Gets Historic Downgrade, Markets Tank, Is Default Coming? Economist Steve Hanke" video.

  1. Keep in mind that a large part 7 trillion is intergovernmental debt like the 2.8 trillion Social Security cash stack that is all just hanging in Treasuries, maybe it would have been smarter to use the Governments 7 trillion cash as a Sovereign Wealth Fund rather then lock it all up in to Treasuries but it is what it is... So in the end it's 25 trillion excluding intergovernmental and of that a large chunk is the FED, it's not even close to 100% debt to GDP. Also the USA has low taxes I am paying 15% that is low you can raise my taxes to 20% and I will have no issues with that, still way lower than Europe by a far. The USA wants growth and higher GDP so taxes are left low but then you need to decide a good balance between national debt and tax rates
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