Morning Wire Debt, Deficits & Disaster: Can Washington Change Course?
19 snips
Aug 24, 2025 
Maya McGinnis, President of the Committee for a Responsible Federal Budget and a national debt expert, discusses the growing concerns surrounding the U.S. national debt. She highlights the generational burden it poses, its impact on inflation and essential services, and the political polarization that hinders solutions. McGinnis advocates for reevaluating the debt ceiling and emphasizes learning from states with balanced budgets. Additionally, she underscores the significance of bipartisan efforts to safeguard Social Security and ensure fiscal responsibility.
AI Snips
Chapters
Transcript
Episode notes
Debt Crowds Out Growth And Lowers Living Standards
- High national debt reduces private investment by crowding out capital, which slows growth and lowers wages.
- Rising debt also increases inflation and interest rates, harming long-term living standards.
Interest Costs Crowd Out The Budget
- Interest payments are becoming a dominant budget claim and are the fastest-growing federal expense.
- That crowding leaves less fiscal room for priorities and emergency responses.
Debt Is Also A National Security Risk
- High debt weakens national security by tying us to foreign creditors and limiting strategic choices.
- Reduced fiscal flexibility undermines our ability to respond to crises and seize opportunities.