Gross Domestic Problem

In this episode of Gross Domestic Problem, Mayor Glenn Jacobs (also known as WWE’s Kane) joins the show to discuss America’s national debt crisis, the impact of federal fiscal policy on local governments, and the challenges of balancing budgets without raising taxes. Glenn shares real-life stories about how property tax increases and inflation affect everyday citizens, explains the dangers of unchecked government spending, and advocates for fiscal responsibility, sound money, and a balanced budget amendment. Drawing on his interest in Austrian economics, he emphasizes the importance of individual freedom and the risks of central planning, leaving listeners with a clear message: responsible economic policy at every level of government is essential to safeguarding the future. Don’t miss this great conversation.

Key topics in today’s conversation include:

• Introduction And Framing The National Debt Crisis (0:38)
• Welcoming Glenn Jacobs and Setting Up The Discussion (1:53)
• Property Taxes, Local Budgets, and Tax Burden On Citizens (3:01)
• Reappraisals, Tax Increases, and Real-Life Impact Stories (5:42)
• Economic Margins, Middle-Class Strain, and Government Responsibility (6:54)
• The National Debt’s Impact On Local Government and Inflation (9:35)
• Interest On The National Debt and Existential Fiscal Threats (12:26)
• Local Leaders’ Challenges: Inflation, Tax Base, and Service Cuts (14:44)
• The Feedback Loop: Inflation, Productivity, and Stagflation Risks (15:58)
• Hyperinflation, Reserve Currency Status, and Global Economic Shifts (17:39)
• Congressional Incentives, “Bringing Home The Bacon,” and Systemic Issues (21:10)
• Policy Solutions: Balanced Budget Amendment and Sound Money (26:00)
• Austrian Economics: Jacobs’ Intellectual Journey and Key Insights (29:10)
• Individual Freedom, Economic Planning, and Human Action (33:20)
• Comparing Political Regimes, Deregulation, and Economic Policy (36:24)
• Closing Reflections, Wrestling Memories, and Farewell (41:34)

Gross Domestic Problem is a podcast from Millennial Debt Foundation focusing on America’s biggest financial crisis. Each episode, we break down how we got here, what happens if we don’t act, and the least painful way forward. There’s no do-nothing solution. Subscribe now at grossdomesticproblem.com and join the conversation. 

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Gross Domestic Problem, William is joined by Robert Bluey, President and Executive Editor of The Daily Signal. William and Rob talk about the critical challenge of reporting on the national debt. They explore the media's struggle to make the $37 trillion debt a compelling story, discussing how consumer behavior, click-driven journalism, and complex economic issues prevent meaningful coverage. Rob acknowledges the Daily Signal's limitations in addressing the debt crisis, while William emphasizes the existential threat posed by mounting national debt. The conversation reveals the perverse incentives in media that discourage in-depth reporting on fiscal policy, highlighting the need for more innovative storytelling and a generational approach to understanding the long-term consequences of government spending. Key takeaway: The national debt is a critical issue that requires sustained attention and creative communication strategies to engage the public effectively. Don’t miss this episode.

Key topics in today’s conversation include:

• Media Incentives and Challenges in Debt Coverage (1:00)
• Why the Debt Isn’t Front Page News (3:43)
• Origins and Mission of The Daily Signal (6:20)
• Conservative Media’s Institutional Challenges (9:53)
• How Newsrooms Prioritize Coverage During Crises (10:50)
• Resource Allocation and the Debt’s “Always Happening” Nature (15:47)
• Audience Behavior and Click Incentives (18:00)
• Who Benefits from the National Debt? (22:27)
• Political Realities and Entitlement Reform (27:33)
• Media Trust and the Rise of Personal Brands (31:16)
• The Daily Signal’s Approach to Trust and Transparency (33:23)
• Generational Shifts in News Consumption (36:37)
• Competing with Influencers and Personal Brands (38:18)
• Maintaining Mission Integrity Amid Financial Pressures (43:19)
• The Need for Persistent, Compelling Debt Coverage (45:11)
• Advice for Advocacy Groups: Competing for Attention (49:23)
• Final Thoughts and Takeaways (50:32)

Gross Domestic Problem is a podcast from Millennial Debt Foundation focusing on America’s biggest financial crisis. Each episode, we break down how we got here, what happens if we don’t act, and the least painful way forward. There’s no do-nothing solution. Subscribe now at grossdomesticproblem.com and join the conversation. 

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Gross Domestic Problem, William is joined by Romina Boccia, Director of Budget and Entitlement Policy at the Cato Institute. Romina addresses the growing fiscal crisis and argues that the United States is on a dangerous economic trajectory, with unsustainable government spending, entitlement programs, and a political system that prioritizes short-term benefits over long-term fiscal stability. She proposes a BRAC-style commission to overcome political gridlock, similar to the Base Realignment and Closure process, which would create an independent mechanism to make tough budgetary decisions. The discussion also highlights how current policies effectively transfer wealth from younger generations to older, wealthier populations, risking future economic collapse through potential currency devaluation, inflation, and reduced private sector investment. Romina emphasizes that the fiscal crisis is not a future problem, but a current reality that requires immediate, creative solutions to prevent the United States from undermining its own economic strength and global standing. Don’t miss this great conversation!

Key topics in today’s conversation include:

• Romina’s Background and Motivation (3:08)
• The Importance of Fiscal Policy and Economic Stability (9:25)
• American Exceptionalism and the Free Rider Problem (11:27)
• Why Good Fiscal Policy Lacks Political Support (15:20)
• The Limits of Political Solutions and the Need for New Approaches (18:18)
• The Simpson-Bowles Commission and Political Obstacles (20:42)
• International Examples and Constitutional Restraints (23:47)
• The Base Realignment and Closure (BRAC) Model (27:57)
• Feasibility of a BRAC-Style Fiscal Commission in the U.S. (31:49)
• Recent Attempts at Fiscal Commissions and Special Interest Opposition (35:37)
• Intergenerational Transfers and Social Security Inequities (38:51)
• Objections to Delegating Congressional Authority (42:14)
• The Growing Political Power of Older Generations (47:31)
• The Danger of Peacetime Deficits and Future Crises (51:09)
• Risks of Foreign Divestment and Treasury Auctions (55:08)
• Conclusion and Final Thoughts (1:00:04)

Gross Domestic Problem is a podcast from Millennial Debt Foundation focusing on America’s biggest financial crisis. Each episode, we break down how we got here, what happens if we don’t act, and the least painful way forward. There’s no do-nothing solution. Subscribe now at grossdomesticproblem.com and join the conversation. 

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Key topics in today’s conversation include:

• Congressman William Timmons Joins the Discussion (1:42)
• Government Spending and Debt (3:15)
• Improper Payments Overview (4:06)
• Examples of Improper Payments (6:03)
• Enhanced Income Verification Technology (7:36)
• Potential Savings from Technology (9:05)
• TABs Act Proposal (13:06)
• Challenges of Current Safety Nets (14:17)
• Improper Payments During COVID (17:05)
• Understanding Government Spending (20:20)
• Technology and Verification (22:06)
• Reconciliation Package Challenges (25:41)
• Final Thoughts and Conclusion (26:41)

Gross Domestic Problem is a podcast from Millennial Debt Foundation focusing on America’s biggest financial crisis. Each episode, we break down how we got here, what happens if we don’t act, and the least painful way forward. There’s no do-nothing solution. Subscribe now at grossdomesticproblem.com and join the conversation. 

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Key topics in today’s conversation include:

• William’s Background and Journey (1:02)
• National Debt Perception (3:28)
• Social Safety Net Importance (8:02)
• Long-term Implications of Debt (9:13)
• National Security Concerns (11:36)
• Inflation and Fiscal Crisis (14:16)
• Taxation and Spending Issues (15:25)
• Mandatory Spending Challenges (17:28)
• Urgency of Action (19:46)
• Political Will and Responsibility (21:44)
• Personal Motivation for Advocacy (23:22)
• Closing Remarks and Future Conversations (24:27)

Gross Domestic Problem is a podcast from Millennial Debt Foundation focusing on America’s biggest financial crisis. Each episode, we break down how we got here, what happens if we don’t act, and the least painful way forward. There’s no do-nothing solution. Subscribe now at grossdomesticproblem.com and join the conversation. 

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Key topics in today’s conversation include:

• Current State of U.S. Healthcare (1:01)
• Introduction of Guest Marc Goldwein (3:15)
• Government's Role in Healthcare Spending (5:57)
• Medicare Advantage Overview (9:43)
• Cost Control in Traditional Medicare (12:07)
• Incentives and Risks in Medicare Advantage (15:12)
• Upcoding in Medicare Advantage (18:24)
• Risk Adjustment in Medicare Advantage (21:17)
• Estimates of Medicare Advantage Overpayment (25:17)
• Deficit Reduction Strategies (29:20)
• Waste in the Healthcare System (33:55)
• The Need for Comprehensive Budget Reforms (36:24)
• Understanding Medicare Cuts (38:24)
• Bipartisan Solutions for Healthcare (42:13)
• The Importance of Shared Pain (46:04)
• Final Thoughts and Takeaways (48:11)

Gross Domestic Problem is a podcast from Millennial Debt Foundation focusing on America’s biggest financial crisis. Each episode, we break down how we got here, what happens if we don’t act, and the least painful way forward. There’s no do-nothing solution. Subscribe now at grossdomesticproblem.com and join the conversation. 

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Key topics in today’s conversation include:

• Andrew's Background and Expertise (1:39)
• Understanding Tax Policy (4:15)
• Purpose of Taxation (6:36)
• Political Challenges of Taxation (9:25)
• Consumption as Economic Driver (16:12)
• Taxing Paper Gains (20:07)
• Impact of Market Fluctuations (23:24)
• Understanding National Debt (28:14)
• Tax Code Improvements (31:11)
• Employer Benefits vs. Salaries (34:05)
• Horizontal Equity in Taxation (38:37)
• Trade-Offs in Tax Reform (40:45)
• Current SALT Cap Debate (42:04)
• Impact of SALT Cap on Taxpayers (46:16)
• Philosophical Tax Questions (53:57)
• Final Thoughts and Resources (56:19)

Gross Domestic Problem is a podcast from Millennial Debt Foundation focusing on America's biggest financial crisis. Each episode, we break down how we got here, what happens if we don’t act, and the least painful way forward. There’s no do-nothing solution. Subscribe now at grossdomesticproblem.com and join the conversation. 

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Key topics in today’s conversation include:

• Welcoming Lura to the Show (1:00)
• Fiscal Health and Individual Well-Being (2:26)
• Connecting Government Spending to Personal Impact (4:44)
• Visualizing the Fiscal Problem (8:21)
• Understanding the Scale of Spending (10:08)
• Millennials' Views on Entitlement Reform (13:53)
• The Political Challenge of Fiscal Reform (16:01)
• Generational Misunderstanding in Fiscal Conversations (19:42)
• Research on Voter Segmentation (23:57)
• Polarization vs. Shared Values (26:31)
• Demographic Shifts in Voting (31:15)
• Non-Ideological Voting Trends (34:34)
• Party Leadership and Direction (41:05)
• Engagement in Local Government (46:34)
• Understanding Political Dynamics (48:06)
• Bridging Political Divides (51:47)
• Final Thoughts and Takeaways (52:16)

Gross Domestic Problem is a podcast from the Millennial Debt Foundation focusing on America's biggest financial crisis. Each episode, we break down how we got here, what happens if we don’t act, and the least painful way forward. There’s no do-nothing solution. Subscribe now at grossdomesticproblem.com and join the conversation. 

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Key topics in today’s conversation include:

• Background of Austin and Ryan (1:39)
• Breaking Traditional Rules (4:13)
• Innovative Engagement Strategies (6:14)
• Product Market Fit in Politics (8:27)
• Understanding Voter Attention (10:53)
• Applying SCARF in Policy Context (12:31)
• Influence Campaign Successes (15:31)
• Leveraging Voter Sentiment (17:41)
• Debt and Political Strategy (20:58)
• Chicago's Debt Crisis (23:55)
• DOGE and Government Accountability (25:23)
• Connecting the Dots (29:01)
• Publicizing Government Missteps (33:59)
• The Importance of Individual Accountability (37:21)
• Momentum Shift (38:44)
• State-Level Focus (41:35)
• Risk for Established Politicians (43:55)
• Final Thoughts and Takeaways (44:32)

Gross Domestic Problem is a podcast from Millennial Debt Foundation focusing on America's biggest financial crisis. Each episode, we break down how we got here, what happens if we don’t act, and the least painful way forward. There’s no do-nothing solution. Subscribe now at grossdomesticproblem.com and join the conversation. 

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Key topics in today’s conversation include:

• Zach’s Background and Journey to Third Way (0:48)
• Misconceptions About Party Fiscal Responsibility (3:09)
• Health Care Spending Reforms (6:30)
• Understanding the Ten-Year Budget Window (8:17)
• Defense Spending and Waste Concerns (10:35)
• The Federal Budget Breakdown (13:21)
• Program Integrity and Government Efficiency (16:05)
• Avenues for Spending Reform (19:29)
• Political Perspectives on Spending (22:11)
• Tax Revenue and Political Landscape (24:05)
• Current Law vs. Current Policy (26:00)
• Complexities of Tax Revenue Solutions (28:10)
• Future of Tax Policy Changes (30:27)
• Challenges in Addressing National Debt (32:05)
• Final Thoughts and Takeaways (34:22)

Gross Domestic Problem is a podcast from the Millennial Debt Foundation focusing on America's biggest financial crisis. Each episode, we break down how we got here, what happens if we don’t act, and the least painful way forward. There’s no do-nothing solution. Subscribe now at grossdomesticproblem.com and join the conversation. 

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.