Politics with Paul #44: The National Debt—And a Balanced Budget Amendment to the US Constitution?
Update: 2025-06-10
Description
The national debt has ballooned to $36 trillion. Just about everybody agrees that it's a major issue...but yet we have significant trouble tackling it. We agree that the deficit and debt are not sustainable forever, but we often have much different ideas on how they need to be lowered. It's a complicated issue to sufficiently address because of a variety of financial, structural, and political factors.
What is the history of the national debt? What makes up our national debt? How is it viewed as a campaign issue? Why is it so difficult to cut spending? Is a Balanced Budget Amendment to the US Constitution on the horizon? All this and more is on tap for today’s episode.
(0:00 ) Introduction: The National Debt
(1:43 ) Deficit vs. Debt: What's the Difference?
(4:15 ) A Brief History of the National Debt
(14:05 ) How the Budget is Made for the US Government
(20:45 ) What Makes Up Our Debt?
(23:39 ) National Debt as a Campaign Issue
(26:29 ) The Political Difficulty in Balancing Budgets
(32:28 ) Is a Balanced Budget Amendment to the US Constitution in the Future?
(36:41 ) Final Thoughts and Closing
What is the history of the national debt? What makes up our national debt? How is it viewed as a campaign issue? Why is it so difficult to cut spending? Is a Balanced Budget Amendment to the US Constitution on the horizon? All this and more is on tap for today’s episode.
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(0:00 ) Introduction: The National Debt
(1:43 ) Deficit vs. Debt: What's the Difference?
(4:15 ) A Brief History of the National Debt
(14:05 ) How the Budget is Made for the US Government
(20:45 ) What Makes Up Our Debt?
(23:39 ) National Debt as a Campaign Issue
(26:29 ) The Political Difficulty in Balancing Budgets
(32:28 ) Is a Balanced Budget Amendment to the US Constitution in the Future?
(36:41 ) Final Thoughts and Closing
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