Slate Money The National Debt Question
26 snips
Aug 9, 2025 
Mary Childs, co-host of Planet Money and author of 'The Bond King', dives into the intricate issues surrounding the national debt. She discusses why current concerns about fiscal deficits demand attention, contrasting them with historical precedents. The conversation reveals the political fallout from Trump's firing of the Bureau of Labor Statistics head, highlighting the trust crisis in economic data. Finally, they explore Tesla's hefty incentive package for Elon Musk and its implications for corporate governance.
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Interest Expense Now Outweighs Defense
- The U.S. now pays more in interest than on defense, raising fiscal stakes for current debt levels.
- Mary Childs warns rising interest expense makes large debt much more dangerous than before.
Japan As A Possible Preview
- Japan shows very high debt can persist if the central bank and large buyers suppress rates.
- Mary Childs says those conditions may not translate neatly to the U.S. even if debt/GDP looks similar.
Debt Ceiling Is A Repeat-Game Threat
- Felix Salmon warns repeated debt-ceiling standoffs risk a future where one side won't blink and a crisis follows.
- The repeat-game nature makes each standoff more dangerous over time.
