William Henderson and B. McGraw talk about the US National Debt. Why is it so high, and what do we spend the money on? What are the most realistic ways to reduce the national debt?
We talk about some misconceptions about where the US government spends its money, and why the government borrows money instead of just relying on taxes. Then we also discuss the history of spending and revenue over the past century, and when the budget deficits began to accelerate. We then discuss who owns our debt, to include foreign investors, US government agencies, and US investor groups. Then we discuss what type of taxes our revenue comes from. We then discuss ways to close the budget gap in the areas of medicare, medicaid, social security, and the DoD.
Like and subscribe on Apple Podcasts, Google Podcasts, Podbean, Spotify, Amazon Music, Tunein, iHeartRadio, Player FM, Listen Notes, Podchaser, or Boomplay
9:30 treasuries as safe assets
11:49 spending history
12:20 tax history
15:20 stable tax rate across all categories?
15:50 deficit history
17:54 national budget categories (2nd link)
22:40 who owns our debt?
27:30 source of revenue (2nd link)
32:14 social security tax cap
32:58 medicare source of revenue
39:17 drug price negotiations
42:00 CBO DoD reduction (2nd link)
42:40 Defense as % of GDP over time
44:24 Ukraine spending
45:31 Iraq/Afghanistan
46:10 Ukraine aid by category?
This is the Unjerked Podcast
