Peter St Onge Podcast Ep 96 Weekly Roundup: Handing Trump a Lit Fuse on the Debt
Dec 2, 2024
The podcast dives into the staggering rise of national debt and its consequences for economic stability. It argues for government spending cuts and highlights the burden of regulations on taxpayers, driving up prices. The discussion expands to the impact of mass deportations on the labor market and proposes a Bitcoin strategic reserve. Additionally, Bitcoin is explored as a hedge against hyperinflation and a potential alternative to the Federal Reserve, emphasizing monetary reform benefits for the middle class.
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National Debt Crisis
- The Biden administration added $12 trillion to the national debt in four years.
- This has led to debt interest consuming a significant portion of tax revenue.
Trump's Economic Plan
- Trump's plan involves growing the economy through deregulation and tax cuts.
- Spending cuts are necessary, but face resistance from special interests.
Shrinking the Government
- Elon Musk and Vivek Ramaswamy propose shrinking the federal government.
- This involves leveraging Supreme Court decisions and reducing the workforce.