SLP467 An Unsustainable Fiscal Path with James Lavish
Stephan Livera Podcast
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The US Debt Clock Is $200 Trillion, Right?
The US has $200 trillion in unfunded liabilities, and that's not even counting what's called the fiscal gap. Paul: You've got three choices in a situation like this; you can either cut spending or raise taxes. He says raising taxes is political suicide because voters are shaped by special interests. The next move would be to let inflation run hot so GDP gets up in nominal terms, he says.
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