Government's Financial Condition and Deficit and Debt Ceiling
Watch the first video, which discusses the difference between US debt and operating costs and how the government's large financial obligations (popularly referred to as "entitlement spending") can create burgeoning deficits. Then watch the second video, which explains the basics of the federal deficit, debt, and the debt ceiling.
Source: Khan Academy, https://www.youtube.com/watch?v=LOiw5aBrm4Y, https://www.youtube.com/watch?v=-05OfTp6ZEE
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Last modified: Friday, June 18, 2021, 9:43 AM