Uncle Sam Is That Guy!

This may be some of the "most disturbing" news out there. Joe also gave us a great Uncle Sam comparison. 

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Episode Transcript

Speaker 1 (00:00):
If you've ever had credit card debt, you know what
that spiral is like. So here's a little from the
Forbes article about it. What's startling about the CBO's latest projections.
It's just a year ago the CBO said it would
be twenty nine.

Speaker 2 (00:13):
At the earliest that this would happen. Then it happened
this week.

Speaker 1 (00:17):
Why again, predictable and predicted interest rates went up.

Speaker 2 (00:25):
Smart people been saying forever.

Speaker 1 (00:27):
You know, we're in trouble now with interest practically zero,
but that ain't gonna last forever.

Speaker 2 (00:32):
And when the interest.

Speaker 1 (00:33):
Rates go up, our debt is gonna debt payments are
going to be just unbelievable.

Speaker 2 (00:39):
Well, it happened, of.

Speaker 1 (00:40):
Course, not to quibble, but yeah, smart people were saying that.
Halfwits were saying that too. It was as predictable as
the sunrise that interest rates would rise from the near
zero level they were at. So this year, the CBO
estimates that the federal government will spend eight hundred and
fifty billion on defense, but one hundred and seventy billion

(01:01):
on just the interest payments. As Joe points out, it
is important to recognize that's not paying down the debt
at all.

Speaker 2 (01:07):
That's just paying the interest. Oh my god.

Speaker 1 (01:11):
And it's un as you're planning to live to the
age one hundred and eight if your kids are going
to be paying our debt. And this that I already
mentioned part of the changes that the CBO is belatedly
acknowledging that interest rates are going to remain higher for
longer than they had previously projected, which increases the cost
of servicing the federal debt.

Speaker 2 (01:30):
If you are carrying credit card.

Speaker 1 (01:32):
Debt, you've noticed that that the interest is way higher
in your credit card than it used to be, so
your monthly interest payment is way higher. That is no
way to run an empire. You're spending more on servicing
your debt. And why do we have a debt? Because
we stupid Americans in both parties, and now both parties
play to us saying this is good, you're smart to

(01:54):
do this. We expect two dollars worth of government for
a dollar's worth of taxes.

Speaker 2 (02:01):
Yeah, it's not quite that much.

Speaker 1 (02:02):
It's more like a dollar sixty worth of government for
a dollar's worth of taxes.

Speaker 2 (02:06):
But that's what we expect.

Speaker 1 (02:07):
Like we live in some sort of fantasy unicorn world
where that's not gonna, you know, have an end date.
But that's where everybody expects, and both both parties leaders
get up and say, that's perfectly okay. You should get
a dollar sixty's worth of services for a dollar's worth
of taxes.

Speaker 2 (02:22):
That makes sense, As.

Speaker 1 (02:26):
Hl Menkin said, it's sort of a pre auction on
stolen goods.

Speaker 2 (02:30):
You got one party saying.

Speaker 1 (02:31):
I'll give you a dollar fifty worth of services for
a dollar a dollar fifty, they're trying to balance the
budget on the backs of the poor and the old
and the whatever.

Speaker 2 (02:41):
We'll give you a dollar sixty five worths.

Speaker 1 (02:43):
Oh my god, I'm voting for them, and we'll steal
it from the future generations. We'll have to deal with
our mess. I'm done because nobody wants to hear this. No,
it is, morally speaking, the most important story in America.

Speaker 2 (02:57):
Nobody wants to hear it.

Speaker 1 (02:58):
I'm done. I regular yeah, Like I regularly say, I
have a habit of calling like ten things a week
the most important thing in America. This one is arguably
absolutely the top of the list. Though long term destroying
the country, it's this one, yeah, with the Chinese hacking

(03:20):
thing a close second. I mean though in that Pooh
contacts the air circulation device, that.

Speaker 2 (03:26):
Is going to be unbelievable. Well, they fit together obviously.

Speaker 1 (03:31):
If you've ever had credit card debt again, you're spending
all that money on your credit card every month. That's
money you can't save or spend on other important things
like more defense or better hackers or whatever. Worth pointing
out both parties. I said I was done, and yet
I'm not. I'm ranting on. Forgive me both parties. Mostly

(03:56):
during times of peace and prosperity, not like there's World
War a foot or the pandemic lasted fifteen years. No,
we've been overspending in time of peace and prosperity. Right,
So if the S hits the fan, not if when
that's only only a child or a stupid person would say,
if do you know world history?

Speaker 2 (04:16):
When the S hits the fan?

Speaker 1 (04:19):
And if you've seen those charts of like what our
expenditures were and everything during World War two and various
a country headed into that with the kind of debt
that we've got. I mean, come on, you know what
we are. We're the deadbeat friend or brother or brother
in law who lives like a moron, never saves anything,

(04:40):
wastes their money on stupid crap, then comes to you
and says, hey, can I borrow two hundred bucks? I
gotta get a car fixed. I'm not gonna give you
two hundred dollars. I beg you to be more responsible.
I gotta give a car fixed. Man, Come on, you
expect me to live without a car?

Speaker 2 (05:01):
Are they even worse? I need something for Michael Sam?
Is that? Oh? Yeah, Uncle Sam?

Speaker 1 (05:06):
Is that guy wearing a stained wife beater and some
ill fitting shorts to show the crack of his ass.

Speaker 2 (05:14):
And he's in your.

Speaker 1 (05:15):
Living room begging for two hundred dollars to fix his
car and to get his kids.

Speaker 2 (05:20):
Books for school.

Speaker 1 (05:22):
He's not in his snappy red, white and blue outfit
in the top head anymore. He's, as I describes you,
like Eddie from the Vacation movies, Uncle Sam.

Speaker 2 (05:32):
Shame on you. Hallelojah, pass the Tilo.