Learning About Liberty (By Losing It)
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Our debt keeps increasing and without intervention it’s only going to get worse. The turbulence in the stock market these last few days will look like child’s play if we don’t start reining in our debt. In this one-minute video, Harvard economist Jeff Miron shows that the only way we’ll get things under control is by putting the brakes on entitlement spending. If we do nothing, our national debt will be almost twice as much as our annual gross domestic product by 2035 – a ruinous state of affairs. How Big Is the U.S. Debt? Enormous. Monstrous. Elephantine. Gargantuan. “Big” doesn’t do justice to the United States’ debt – and we’ve only just begun racking it up. This brief video from Antony Davies, an economist at Duquesne University, shows that our nation’s unfunded liabilities are actually greater than the entire output of the world’s economy. Check out this one-minute clip. Are the Poor Getting Poorer? A common talking point in liberal circles is that the poor are getting poorer while the rich are getting richer. While the top 20 percent do have a slightly larger share of the nation’s wealth than the bottom 20 percent, those factoids are misleading. Income mobility and an larger national economy mean that the poor are getting richer too – and they’re getting richer more quickly than the rich. Want proof? Just check out this brief, three-minute video by economist Steve Horwitz. Want to stay up to date on the latest news from Learn Liberty? Become a fan of LearnLiberty on Facebook. |

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