The Heartland Institute’s Donald Kendal, Chris Talgo, and S.T. Karnick present episode 455 of the In The Tank Podcast. The national debt is currently closing in on $35 trillion. Even more alarming, the cost of maintaining that debt is approaching $1 trillion annually - this is just the interest payment on the debt! Is this sustainable? Also, how long will the dollar remain the king currency when we pursue such reckless monetary and fiscal policy?

OPENING CHIT CHAT - TONIGHT IS DEBATE NIGHT

NPR - Biden and Trump will debate on Thursday. Here’s what you need to know

https://www.npr.org/2024/06/24/nx-s1-5013579/trump-biden-presidential-debate-when

PRIMARY TOPIC - Will Debt Sink the American Empire?

Money Wise - How much purchasing power will we have in the next 5 years?

https://moneywise.com/research/americans-purchasing-power-plummets-as-inflation-slashes-salaries

NPR - Home prices just hit a record high. Here are 4 things to know about housing

https://www.npr.org/2024/06/22/nx-s1-5015076/home-prices-housing-record-high-mortgage-rates-interest-rates

WSJ - Will Debt Sink the American Empire?

https://www.wsj.com/politics/policy/will-debt-sink-the-american-empire-8459096b

Atlantic Council - Dollar Dominance Monitor

https://www.atlanticcouncil.org/programs/geoeconomics-center/dollar-dominance-monitor/

The Economist - The fight to dethrone the dollar

https://www.economist.com/special-report/2024/05/03/the-fight-to-dethrone-the-dollar

Reuters - US dollar's dominance secure, BRICS see no progress on de-dollarization -report

https://www.reuters.com/markets/currencies/us-dollars-dominance-secure-brics-see-no-progress-de-dollarization-report-2024-06-25/