Chapter
The Deficit in Washington is Getting Out of Control
39:13 - 43:34 (04:20)
The increase in the deficit is alarming when looking back at the past five to six presidents. The incentive structure in government drives a systemic model of growth, resulting in the government competing as a monopoly on the field for capital.
Clips
The US deficit has increased dramatically over the past few decades, with staggering increases under Reagan and the second Bush presidency.
39:13 - 41:54 (02:41)
Summary
The US deficit has increased dramatically over the past few decades, with staggering increases under Reagan and the second Bush presidency. The incentive structure of politicians to spend in order to benefit their constituents is driving this systemic model of government growth, leading to competition as a monopoly on the field for capital.
ChapterThe Deficit in Washington is Getting Out of Control
EpisodeE58: November's CPI, preparing for a downturn, macro outlook, Better.com's botched layoffs & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The US government's debt service costs amount to around $150 billion per year.
41:54 - 43:34 (01:39)
Summary
The US government's debt service costs amount to around $150 billion per year. Despite the Republican party's reputation for cutting government spending, the deficit has continued to rise.