In this episode of Liberty Lens, hosts Big John and Mike ter Maat explore the escalating U.S. national debt, now at 122% of GDP, and its potential to destabilize the economy and democracy. They discuss the recent Moody’s downgrade of U.S. credit, the implications for Treasury securities, and rising interest rates. The conversation covers the risk of financial collapse, the impact on the U.S. dollar as a reserve currency, and the global economic contagion that could follow. They also examine the lack of political will to address spending, the role of entitlements, and the philosophical threat to democracy if authoritarianism rises due to economic failure. Tune in for a critical look at America’s fiscal future.
Join 2024 LP Vice Presidential candidate Mike Ter Maat and Big John as they discuss the week’s major news from a libertarian perspective on Liberty Lens.
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Chapters:
00:01:18 National Debt Overview
00:02:16 Budget Reconciliation and Policy Impacts
00:04:16 Moody’s Downgrade and Credit Worthiness
00:06:00 Implications of Credit Downgrade
00:09:32 Treasury Secretary’s Response Critique
00:13:31 Debt and U.S. Dollar as Reserve Currency
00:15:23 Political Dishonesty and Debt Management
00:20:35 Debt Servicing and Investor Confidence
00:23:46 Debt-to-GDP Ratio and Economic Strain
00:29:00 Entitlements and Budget Constraints
00:32:19 Political Will and Spending Issues
00:34:31 Debunking “Debt Doesn’t Matter” Claims
00:40:40 Spending Cuts vs. Tax Solutions
00:44:06 Economic Collapse and Global Contagion
00:47:33 U.S. Dollar and Global Economy
00:48:48 Philosophical Implications for Democracy
00:56:47 Debt as a Threat to Liberty
00:57:09 Major Threats to Government Stability
00:58:09 Closing Thoughts
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