Premium Only Content

David Stockman: Debt Default, the ‘Doomsday Budget Machine’ And Fiscal Restraint Explained | TEASER
"For capitalism to work, you have to have effectively functioning, solid capital markets. And in order to do that, you need savings - real savings, not money printed by a central bank, but real savings from businesses and households."
In this episode, I sit down with David Stockman, who served as Budget Director for President Ronald Reagan.
"Back then, the public debt was 30-40% of GDP - not good, but tolerable in terms of historic trends," says Stockman. "Today, it's 120% and growing rapidly - total change. We basically tried to borrow our way to prosperity."
Stockman is the author of “The Great Money Bubble: Protect Yourself from the Coming Inflation Storm.”
"You can't keep borrowing two or three trillion a year, building up the public debt, and leaving that massive burden to future generations. You can't do it," says Stockman. "There's a lot of whining on Wall Street and elsewhere about how fast the Fed has raised interest rates. But the problem is they started at zero."
How did we end up in the current fiscal crisis? What happens when we raise the debt ceiling? And what are we not being told?
"In this deal, there are no enforcement mechanisms at all beyond the current year," says Stockman. "The mainstream media didn't want any alternative except for the Republicans to blink and the debt to be raised yet again. And that's exactly what happened."
-
2:32
American Thought Leaders
7 days agoIs America in a New Period of Economic Growth? | Mark Skousen
2.73K -
4:22:25
sophiesnazz
5 hours agoLETS TALK ABOUT BO7 !socials !specs
3.18K -
1:27:30
Redacted News
4 hours ago"There will be consequences!!!" Trump issues big threat to Putin ahead of peace summit | Redacted
86.8K145 -
LIVE
Amish Zaku
2 hours agoWar Thunder - Tank Tuesday
73 watching -
1:27:05
Kim Iversen
4 hours agoIsrael DEMANDS X Remove Posts and X COMPLIES | Socialist Groceries Coming To A Store Near You!
40.9K89 -
1:11:53
vivafrei
11 hours agoThe Great Replacement of American Truckers With Unskilled Foreign Labor - Live with Gord Magill
93.5K63 -
1:05:13
Sarah Westall
4 hours agoEU Falling, United States Barely Hanging on - Strength and Courage Needed to Fight for Free Speech
39.1K3 -
LIVE
LFA TV
13 hours agoLFA TV ALL DAY STREAM - TUESDAY 8/19/25
786 watching -
2:11:18
The Quartering
6 hours agoToday's Breaking News! Disgusting Grocery Shopping "Haul" Goes Viral, Las Vegas Collapse & More
112K34 -
5:43:27
StoneMountain64
7 hours agoBest Extraction shooter is FINALLY on Console (+CoD Reveal Today)
59.8K