VIDEO: The Deficit and Debt Ceiling Game

The cliché goes: the Democratic leadership want to increase the deficit and go deeper into debt, bankrupting our government, and the Republican leadership wants to cut spending on everything but perks for the rich, bankrupting 99% of the American People. But what are the facts behind this perception?

Here’s an objective video by Khanacademy.org explaining — in layman’s terms — the constant game the government plays with the deficit, to keep up the illusion that the United States is a stable economy, that can go growing forever. It covers the last round of the game, and will not be a much different story from the future rounds. As observed in The End of Growth (first book to be read by Occupy Educated’s new Meetup), such a thing is physically impossible, and keeping up this game may best be described as collective insanity. As seen in Debt: The First 5,000 Years, this game has been a long time coming.

How do you see this game ending, and when? Comment here or in the discussion forums.