Bob explains what happened with the recent Moody's downgrade of US Treasury bonds, summarizes the precarious US fiscal position, and then critiques the argument that Uncle Sam can't possibly default.

Watch the video version of this episode here: https://youtu.be/rLFTjWWH7pg

Related: - https://www.reuters.com/markets/us/moodys-downgrades-us-aa1-rating-2025-05-16 - https://www.heritage.org/markets-and-finance/commentary/the-united-states-debt - https://ratings.moodys.com/ratings-news/443154 - https://www.cbo.gov/publication/61187

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Ep. 91: Moody's Was Right to Downgrade the US Treasury