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😹
Fun
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00:00On the question of whether the United States is poised to overcome its long-term debt cycle issues, figure it this way.
00:09This generation, unfortunately, is burdened by debts that have been given by the prior generation, and those are obligations.
00:19And either they will be paid back in hard money, and that'll be painful, because that means that people will have to spend less than they earn.
00:31So that's going to be tough.
00:34Or you're going to, the only way you can deal with this debt is to earn more than you spend.
00:40And we're going to have to change our behaviors.
00:42That requires a lot.
00:44It means you either have to work harder or more productively to earn more than you spend.
00:48Or you're going to have to cut your spending.
00:51And that's just the way it is.
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