Late Night Live - Separate stories podcast Satyajit Das on the looming US debt crisis
Aug 7, 2025
Satyajit Das, a former banker and author, dives deep into the U.S. national debt crisis exceeding $36 trillion. He discusses the ramifications of President Trump's proposed tariffs and questions their effectiveness in reducing debt. Historical perspectives on borrowing highlight the urgency of economic restructuring. Das critiques the U.S.'s aggressive international negotiation tactics, drawing parallels to historical tribute demands. He also explores the complexities of new tax strategies and their potential impact on economic stability amidst rising inflation.
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Deliberate Method in Trump's Madness
- Trump's administration follows a deliberate economic and non-economic plan despite apparent chaos.
- These goals include trade deficit correction, economic growth via tax cuts, and managing US debt.
US Twin Deficits Danger Zone
- The US faces twin deficits: budget shortfalls and trade imbalances requiring foreign financing.
- These deficits reaching about 10% of GDP place the US in a precarious economic position akin to warning signs for developing countries.
Tax Wealth Fairly But Politics Blocks
- Taxing wealth fairly would boost the budget and address fiscal gaps.
- However, political realities and campaign funding by the wealthy hinder implementing such tax reforms in the US.