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Government Debt and Spending

When it comes to the government’s budget, it seems clear that our approval and appropriation processes don’t work. As of May 2024, the U.S. Treasury reported that the current national debt is $34.58 trillion—and this staggering sum keeps growing. Is all this debt driving us toward a crisis or not? And what, if anything, should be done about it? In this episode, Romina Boccia, Director of Budget and Entitlement Policy at the Cato Institute, Molly Reynolds, Senior Fellow in Governance Policy at the Brookings Institution, and Veronique de Rugy, George Gibbs Chair in Political Economy and Senior Research Fellow at the Mercatus Center discuss government debt and spending.