Hey everybody I'm Kai Rizal. Welcome back to Make Me Smart where we make today make sense.

I'm Kimberly Adams.

Thank you everyone for joining us on this Thursday, February the 8th.

I'm chuckling because if I had read the script, I would have called myself Kyra's doll,

but I'm not Kyra's doll, I'm Kimberly.

You are indeed Kimberly Adams.

It is Thursday, it's the audio day, listen back to some parts of some of the big stories of

a week, and we will discuss briefly. So let's get

the first one. So in the projections we released today the deficit grows from

1.6 trillion dollars in 2024 to 2.6 trillion dollars in

2034. Measured in relation to the economic output, deficits during that

period are about 50% larger than their historical average over the past 50 years.

That is the head of the nonpartisan Congressional Budget Office, his name is Phil Swagull.

They came out yesterday, I guess, Wednesday with their

budget and economic outlook for the next 10 years. It's super interesting, there's a lot

in there. The thing that Swagel talking about, obviously, the debt and deficit, the problem with the debt and deficit is what's called debt service, right? We borrow bajillions of dollars and with interest rates where they

are, think about the tenure that I talk about on the show every day, right? It's like

4% is right now as opposed to half a percent about two three years ago.

Not only are you paying more for your mortgages and your car loans,

but the government is paying more to borrow money to fund all the things that the government does.

And that's a challenge and a problem with a debt of $34 trillion and a

deficit that is getting bigger every single year.

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