Follow The Money Radio

PODCAST: Debt Ceiling Drama

May 24, 2023

It’s that time of year again… Time to raise America’s debt ceiling.
Now that Washington has passed trillions of dollars of new spending bills, it’s time to decide whether to pay for those items.
In this new episode, economist Jerry Robinson explains the drama surrounding the debt ceiling debate in stark terms and provides a simple way of understanding what motivates the political posturing around this heated topic. The current debt ceiling drama serves as an important reminder of the need for long-term solutions that go beyond the temporary extensions and last-minute compromises made by lawmakers. It calls for a reevaluation of the existing system and the exploration of alternatives that can ensure fiscal stability without risking the nation's economic well-being.

Show Notes

Segment 1: Groundhog Day in Washington

SEGMENT BEGINS AT 00:37

Many Americans may not realize that the current debt ceiling debate is not about future expenditures but about already-promised current obligations. The wheel goes round and round and round and yet it still comes out the same. Yesterday’s bills must be paid today, regardless of the objections. Economist Jerry Robinson breaks it down and sorts it out in simple, often humorous, terms.

What exactly is the debt ceiling?
Did you know? The debt ceiling debate is not about new spending
The current political agenda is always lying at the forefront
Audio clips to make it clear…
The debt ceiling is raised by both Republicans and Democrats
The impact of a U.S. default
And guess who’s watching and quietly waiting in the wings?

Segment 2: The Final Word w/ Jerry Robinson

SEGMENT BEGINS AT 33:37

Jerry closes out today’s show with a powerful reminder of the consequences of living beyond one’s means.

Recommended Links

The Holy Bible – Proverb 22:7

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