The U.S. debt stands at a staggering $20 trillion … and counting. The nation’s indebtedness is nothing new, and both parties are to blame. In fact, the problem really exploded under the last two presidents — President George W. Bush (a Republican) and President Barack Obama (a Democrat).
Today’s situation is sometimes described as a “debt crisis,” and many experts warn that it is undermining the future prosperity of the nation. So, why not just print huge amounts of money, pay down the debt, and be done with it?
Unfortunately, it’s not that easy. Watch this WonderWhy video, and you’ll learn why money has no intrinsic value, and is subject to the law of the “Tinkerbell effect.” You’ll also discover why printing too much money can quickly lead to a host of serious problems.
What do you think of the nation’s debt situation? Sound off by commenting below or on our Facebook page.
Find the right financial adviser
Finding a financial adviser you can trust doesn't have to be hard. A great place to start is with SmartAsset's free financial adviser matching tool, which connects you with up to three qualified financial advisers in five minutes. Each adviser is vetted by SmartAsset and is legally required to act in your best interests.
If you're ready to be matched with local advisers who will help you reach your financial goals, get started now.