Brace for Impact of U S Debt Part 2 with Antony Davies and James Harrigan

As Congress raises the U.S. debt ceiling again, while the national debt and government overspending spiral past the bounds of reality, how can businesses prepare to minimize painful outcomes like inflation looming on the economic horizon? Don’t miss Part 2 of this conversation on debt, inflation, and the negative balance in our national ledger with economic analysts Antony Davies and James R. Harrigan, co-hosts of the “Words & Numbers” podcast, and co-authors of “Cooperation and Coercion.” This is Episode 4 of the Season 3 THRIVE Paychex business podcast for small business owners, hosted by Gene Marks.

Topics Discussed Include:
2:28 - Debt ceiling, overspending, inflation
5:31- Social Security insolvent in 10 years
6:55 - What's your $20 worth?
8:00 - Could the U.S. default on its debt?
15:00 - Historic debt trends
16:37 - Constitutional concerns
18:53 – Is U.S. debt too high to pay off?
21:09 - The Fed's impossible math
22:46 – Takeaway? We’re bankrupt
23:05 - Preparing for financial pains ahead
25:17 – Two blows to business in new tax plan
27:50 - Hope in the people's productivity