DiscoverThe John Batchelor Show2: The US Fiscal Crisis: Spending Cuts Are the Only Way Out GUEST NAME: Adam Michel Adam Michel, director of tax policy at the Cato Institute, discusses the US fiscal crisis stemming from large deficits and overwhelming debt. He recalls the 1980s Ronald Rea
2: The US Fiscal Crisis: Spending Cuts Are the Only Way Out  GUEST NAME: Adam Michel Adam Michel, director of tax policy at the Cato Institute, discusses the US fiscal crisis stemming from large deficits and overwhelming debt. He recalls the 1980s Ronald Rea

2: The US Fiscal Crisis: Spending Cuts Are the Only Way Out GUEST NAME: Adam Michel Adam Michel, director of tax policy at the Cato Institute, discusses the US fiscal crisis stemming from large deficits and overwhelming debt. He recalls the 1980s Ronald Rea

Update: 2025-10-11
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The US Fiscal Crisis: Spending Cuts Are the Only Way Out



GUEST NAME: Adam Michel

Adam Michel, director of tax policy at the Cato Institute, discusses the US fiscal crisis stemming from large deficits and overwhelming debt. He recalls the 1980s Ronald Reagan tax cut where promised spending cuts never materialized. The deficit is the annual gap between taxes and spending, accumulating into the national debt. Michel identifies a "deficit hawk coalition" split between deficit hawks (agnostic on revenues/spending) and budget hawks (concerned with government size), advocating for spending cuts to solve the crisis. Entitlement programs like Social Security, Medicare, and Medicaid are the root of fiscal problems.

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2: The US Fiscal Crisis: Spending Cuts Are the Only Way Out  GUEST NAME: Adam Michel Adam Michel, director of tax policy at the Cato Institute, discusses the US fiscal crisis stemming from large deficits and overwhelming debt. He recalls the 1980s Ronald Rea

2: The US Fiscal Crisis: Spending Cuts Are the Only Way Out GUEST NAME: Adam Michel Adam Michel, director of tax policy at the Cato Institute, discusses the US fiscal crisis stemming from large deficits and overwhelming debt. He recalls the 1980s Ronald Rea

John Batchelor