Please send this video to anyone who has trouble understanding our government's finances. Zero Hedge explained the government debt ceiling raise in simple terms:
"The US debt ceiling was raised to $16.394 trillion this week, a number which will be breached before the end of the year, and possibly before the presidential election in November. As a reminder, in 2011, the US economy grew by 1.7%. It almost, but not quite, offset the growth of US debt held by the public, which grew at a brisk 11.3% pace in the past year."