President Trump's Plan For America's National Debt Crisis

The Fox News Rundown

FOX News Radio

Politics, Daily News, News

3.4 • 1.5K Ratings

🗓️ 5 May 2025

⏱️ 32 minutes

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Summary

On Friday, President Trump proposed his fiscal year 2026 skinny budget plan, which calls for spending reductions across the U.S. government. It proposes reducing non-defense discretionary spending to combat the national debt crisis. Budget Committee Chairman Jodey Arrington (R-TX) joins the Rundown to discuss the need to address the growing national debt and unsustainable deficit spending. The Congressman outlines key ideas to guide the reconciliation process, including a top-to-bottom audit, removing waste, fraud, and abuse, and reforming entitlement programs. Most Americans are paying digitally these days; that includes credit cards, tap-to-pay digital wallets, and even cryptocurrency. Cash payments seem to be going the way of the past, yet a cashless society isn’t without its consequences, says Boston University Questrom School of Business Professor Jay Zagorksky. Zagorsky has studied the various consequences the disappearance of cash will have on society in his book, “The Power of Cash.” He joins the podcast to explain why America loves cashless payments, the various ways using cash benefits each of us, and his case for keeping physical dollars and coins in circulation. Plus, commentary from author and Senior Research Fellow at The Heritage Foundation, Simon Hankinson. Photo Credit: AP Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:30.1	I'm Will Kane. I'm Dana Perino. I'm Greg Gerard. And this is the Fox News Rundown.
0:38.8	Monday, May 5th, 2025. I'm Gernal Scott. President Donald Trump wants a budget plan,
0:46.3	his so-called big beautiful bill on his desk by Memorial Day. That means it's up to the Senate
0:52.3	and the House to come together on what the bill will look
0:55.4	like before it comes to a vote. We have to review every diamond dollar of taxpayer money to make
1:03.1	sure they're going to programs Congress intended them to go to. We'll talk with Texas GOP
1:09.6	Congressman Jody Arrington.
1:11.7	And Lisa Brady. In an increasingly digital world, cards instead of cash, are king.
1:18.4	You see all these giant ads, you know, free vacations, you know, use your credit card,
1:23.2	and you'll get some amazing trips, great dining, all these extra benefits.
1:27.9	Nobody's running any ads explaining the benefits of cash.
1:31.3	And I'm Simon Hankinson.
1:32.7	I've got the final word on the Fox News rundown.
1:39.2	One can say with a pretty good degree of certainty that a priority over the next few weeks will be the
1:45.5	Congress coming together on a final budget for President Trump to sign by his desired
1:50.9	deadline of Memorial Day. On NBC's Meet the Press, President Trump said his budget will focus on
1:57.3	where he believes government has been wasteful and added that he doesn't see Medicaid
2:02.3	being slashed. They're not cutting it. They're looking at fraud, waste, and abuse. And nobody minds that
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