Deficits, Dollar, Federal Reserve

New Clip from Documentary on Our Entitlement Mess

Another entry into the growing and quite impressive field of amateur documentaries looks to be quite good (although he may need some professional help to finish). This one is called Default America and it features a bunch of economists and influential thinkers including:

– Thomas Woods
– Peter Schiff
– Lawrence Kotlikoff
– Elizabeth Rankin
– David Howden
– Ron Paul

We’ve talked about this here quite a bit. The United States, as well as the rest of the Western World, has major structural deficits that need to be addressed. At least in the United States, we have the luxury of cutting our bloated military, although few Republicans seem to realize that’s an option. Here’s a segment:

Or maybe it’s even worse than that. After all, there’s this rather depressing video from Hal Mason, a retired accountant who makes a compelling case (albeit in a monotone, accountant-like voice) that the Congress can’t balance the budget even if they shut down the government:

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