#MrMarket: Debt that Congress will not speak. Veronique de Rugy, Mercatus Center, George Mason University
The John Batchelor Show
John Batchelor
4.5 • 2.8K Ratings
🗓️ 20 October 2023
⏱️ 10 minutes
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Summary
#MrMarket: Debt that Congress will not speak. Veronique de Rugy, Mercatus Center, George Mason University
https://www.creators.com/read/veronique-de-rugy/10/23/americans-learned-a-financial-crisis-lesson-washington-did-not
1930 Brooklyn bread line
Transcript
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| 0:23.0 | Ask podcast 23 all lowercase and take your business to the next level today. |
| 0:35.0 | This is CBSI in the world. I'm John Bachelord, debt. |
| 0:38.0 | D-E-B-T, debt. It worries the American household doesn't worry. |
| 0:43.0 | The nation's capital, particularly the members of Congress. |
| 0:47.0 | We all worry about it, so we go to Vernique de Rige of the Mercatus Center, |
| 0:52.0 | whose column at the Crater Syndicate is extremely worrisome. |
| 0:56.0 | If you understand that debt gets worse, it doesn't get better, |
| 1:00.0 | given the commitments of the American people to foreign affairs, the two wars in Eurasia, |
| 1:06.0 | and to the future of our country to educate and to provide for people in their seniority. |
| 1:13.0 | Vernique, a very good evening to you. My fact here says $25.8 trillion is the present debt. |
| 1:21.0 | In 10 years, best case scenario, in 10 years, that will grow to $45 trillion debt. |
| 1:29.0 | What happens that it's going to grow 20 trillion? Good evening, John. |
| 1:36.0 | What happens is that we're spending a lot of money well above what was projected. |
| 1:42.0 | But also well above what we're collecting in taxes. |
| 1:47.0 | And that we have known for a long time that we needed to address entitlement spending |
| 1:53.0 | and that it was going to become overwhelming. |
| 1:57.0 | And this is what's happening. But this is also, this is a best case scenario, |
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