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#1412 James Lavish | Bitcoin & The National Debt Crisis
The Pomp Podcast
Addressing the Debt Spiral Requires Collective Action
The increasing national debt prompts the need for urgent solutions, as the U.S. government resembles a 'zombie company' unable to generate sufficient income to pay down or even cover the interest on its debt. This situation suggests that merely electing a new president or restructuring Congress may not suffice; it demands a collective effort from all citizens to adopt more prudent spending habits. The debt crisis can be likened to a family budget that has drastically tightened, necessitating significant behavioral changes to avoid exacerbating the current financial instability.
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