You're not wrong. As a southern European I know what they mean with all this austerity bullshit, so fuck these cunts.
BUT.
The American economy really is in shambles. I read not long ago that Americans are bound to pay more than $1 trillion just in interests in 2026, and more than $2T (a year) in ten years. With the predictions of gdp growth (which imho are terribly optimistic since the entire us economy is right now hanging from the AI bubble) the interest rates are going to shoot up, or even get to the point where no one would lend money to the USA, unless something (like that amendment) gives some guarantees that you're gonna pay the debt back.
So my conclusion is that the US is gonna default on that debt sooner than later, and then it's just free fall from there. And it will try and drag the rest of the world with it.
We all are fucked.
It also would've been better measured by holding the tape with the numbers facing him and the tip actually against the wall. Kind of reminds me of these stock pictures about any trade with someone lying bricks with the help of a hammer, using a stethoscope without putting it in their ears, or grabbing a soldering iron by the tip and probing into a computer board...