3 chapters across the catalog
Congressional Budget Committee and National Debt Disaster
The House Budget Committee discusses the "catastrophic" trajectory of the U.S. national debt. Lawmakers express concern that interest payments may soon exceed the military budget, yet remain hesitant to cut entitlement programs like Social Security and Medicare. The hosts mock the proposal of a "fiscal commission" as a way for Congress to avoid direct responsibility.
National Commission on Fiscal Responsibility and Austerity Measures
The National Commission on Fiscal Responsibility and Reform released a report titled "The Moment of Truth," outlining proposed austerity measures for the United States. Recommendations include raising the Social Security retirement age to 69 and implementing a 15-cent per gallon gasoline tax. The commission is described as a bipartisan sales team designed to prepare the public for economic hardship.
National Commission on Fiscal Responsibility, Peterson Commission
President Obama's executive order establishing a National Commission on Fiscal Responsibility and Reform is analyzed. The hosts warn of a potential "mandatory savings tax" where a portion of paychecks would be diverted into IRAs managed by firms like Goldman Sachs. They link this to the Peterson Commission and the need to service US debt held by China and Japan.
