Judging Freedom Kevin DeMeritt: Trump and the Dangers of Government Debt.
Jan 7, 2025
Kevin DeMeritt, Founder and CEO of Lear Capital and an expert in government debt, dives into the alarming rise of national debt and its economic implications. He discusses how excessive borrowing can lead to inflation and currency devaluation. The conversation highlights the political reluctance to reform entitlement spending and critiques the inefficiencies of the defense budget. DeMeritt also warns of increasing consumer debt trends and advocates for investing in precious metals as a safeguard against financial instability.
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Debt Devalues Dollar
- Government debt devalues the dollar, similar to creating more currency on an island.
- Increased debt leads to inflation, reducing the purchasing power of each dollar.
Rapid Debt Increase
- From 2008 to present, the US national debt increased by $36 trillion.
- This rapid increase contrasts with the $8 trillion accumulated over the preceding 108 years.
Government Spending and Interest
- Government spending now accounts for over 40% of the US economy.
- The annual interest on the national debt has reached $1 trillion, exceeding many major programs' budgets.