This is a

this is CBS. I am the world. I'm John Bachelor. I welcome very unique to regime of the

Mercata Center at George Mason University, writing most recently about debt, the federal budget

deficit and debt.

These are very large numbers.

I don't do well with large numbers because I lose contact with the meaning.

Varenika, very good evening to you.

The federal budget now for 2024 is projected to be 1.9 trillion.

That seems like a lot of money, is it?

Does Washington respect 1.9 trillion?

Good evening to you. Good evening. Yeah, I mean it's a lot of money. It's it's

very much a lot of money. It's uh it's in debt we've never level of debt as a share of GDP we've never had before and

it's basically also only the beginning but is it money that is it a number that

scares people in Washington or respect? I don't think so. I mean it's not as if

like the most pressing issue everyone is talking about this election to the extent that people are talking about anything of policy substance is certainly not spending. I mean it's just not part of anyone's agenda.

We've been talking about it for two years since the pandemic lifted and the

debt has been growing and you've made the case again and again that the debt is part of the price is a symptom of the problem which is government spending.

Congress and the administration spending.

They continue to spend.

So they're not going to stop themselves.

What will stop them?

Is there a moment where things just fall apart?

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