This week’s “New Rule” bit on Bill Maher’s Real Time show is about the financial apocalypse that might result from the American national debt now being $40 trillion. And despite that, Trump keeps increasing it, despite his promises to cut it. He also says that he’ll give every American $5,000, which will add another trillion to the debt.
And the Left, as exemplified by the Democratic Socialists of America (but also “progressives”), tells us that in the future the government will pay for everyone’s housing, health insurance, food, daycare, medicine, and transportation. (Maher says the DSA promises will cost the government between $72 trillion and $212 trillion.) On top of this we have a growing rate of unemployment, defined as “people who are looking for work but can’t find it.” Maher’s conclusion about what this assumes: “Money is free (to be given away) and consequences don’t exist.”
And he’s right—we do have a problem. Although the problem will not afflict my generation so much, it will squeeze future generations: raising interest rates, reducing government benefits, increasing inflation, and reducing purchasing power.
The panel guests are Democratic political strategist Jessica Tarlov and conservative political activist Christopher Rufo x
I don’t recall his objecting to the ballooning debt under Obama and Biden. Still, he’s right. It’s time to drastically cut the size of government and end the enormous wealth transfers.