Yes, stop the spending, if you can. After paying out the "entitlements", tho, there's nothing left to cut, which is why Gov can't come up with a budget. The problem is thus way bigger than the video can report in 32 seconds!

Our debt is over $15 trillion, of which China holds about $1 trillion. While I don't care for Chinese communism either, let's keep things in perspective!

The video from my own website makes it clear in 7 minutes: