Peter St Onge Podcast Ep 150 Weekly Roundup: Deficit Hits All-Time Record
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Dec 8, 2025 This week dives into the staggering record of the federal deficit and its causes, highlighting the implications of skyrocketing interest and entitlement spending. Discover how Japan and El Salvador have successfully tackled violent crime with innovative approaches. Discuss the concerning trend of the median homebuyer aging to 59 years, alongside the persistent high housing prices. Canada's booming public sector employment raises questions about future economic stability, while a study reveals AI could replace a significant chunk of jobs, with young workers facing the brunt of this shift.
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Record Monthly Federal Deficit Signals Fiscal Risk
- The federal government ran its worst October deficit ever, borrowing nearly as much as it collected in taxes.
- Peter St Onge warns this persistent fiscal path risks periodic Treasury crises, perpetual inflation, or default.
Spending Composition Limits Easy Deficit Fixes
- Nearly half of federal spending goes to Social Security and Medicare, with debt interest surging to $91 billion for the month.
- Peter St Onge argues politics and filibuster rules make conventional fiscal fixes unlikely.
Small Share Of Offenders Drive Urban Violence
- Crime concentrates heavily: studies show roughly 1% of offenders commit over 60% of violent crime in cities like Philly, New York, and Chicago.
- Peter St Onge cites El Salvador and Japan as examples where aggressive policing and harsh prison regimes cut violent crime dramatically.