Trumponomics Is Government Debt Too High and How Much Should We Care?
12 snips
Oct 15, 2025 
In this engaging discussion, Jason Furman, former chair of President Obama’s Council of Economic Advisors and now a Harvard professor, dives deep into the implications of soaring government debt. He evaluates the U.S. debt landscape and warns of a potential debt-interest spiral. Furman highlights the critical role of Social Security and Medicare in fiscal solvency. Additionally, the conversation touches on market vulnerabilities versus U.S. resilience, the impact of quantitative easing, and the evolving landscape of digital currencies and tariffs in stabilizing fiscal health.
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US Has More Borrowing Room — For Now
- Jason Furman says the US has far more capacity to borrow than expected but also much more debt than realized.
- The timing of when markets will force a reckoning is uncertain, so he urges not to make the problem worse.
Act Preemptively On Entitlement Solvency
- Jason Furman advises policymakers not to make fiscal problems worse and to look for opportunities to improve the situation.
- He flags acting on Social Security and Medicare solvency as a better route than waiting for markets to force action.
High Debt Builds Vulnerability Over Time
- Rupert Harrison warns public debt creates long-run vulnerabilities that markets will punish over time.
- He says the US is an exception today, but many European countries already face market sensitivity.
