David McWilliams

speaker

15,996 appearances 46 recordings 8 series first heard Jan 2026 last heard 10 Sep

David McWilliams’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 46 in all, peaking in Jun 2026 with 12.

Appearances

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The David McWilliams Podcast · Jackson Hole Reckoning: The $40 Trillion Debt Crisis and the End of Fiscal Exceptionalism · 27 Aug 2026 podcast

So matched

This is how wild the spending is in the United States, okay? matched

This matched

gives people an absolute sense of why financial markets are worried, right? matched

Just so consider what's going on, right? matched

Inflation in the United States is about three to four percent, between three and four. matched

That's above the Federal Reserve's target in every single year since twenty twenty one. matched

It should it should be it should be two percent, right? matched

Right. matched

Unemployment is at four percent, which means the economy, by any definition, is now at full employment. matched

Because full employment is around four percent. matched

Now, typically if the economy is growing so strongly, if unemployment is so matched

Low. matched

The debt should be actually falling, not rising. matched

And the reason that would be is because a growing economy throws off more tax revenue, a low level of unemployment means that your welfare spending is down. matched

And this is what they call automatic stabilizers. matched

So when an economy is in a recession, that's the time the government should spend. matched

When an economy is flying along, the American economy is, that's the time the government should save. matched

But what's actually happening now in America is the deficit is running at six percent of GDP, right? matched

This has never, ever, ever. matched

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