Erik Bethel

Yes, I fully agree with that.

But just to double click on something Eric said, right now we're spending a trillion dollars in servicing interest on our debt.

Imagine like your credit card, all you're paying is interest on your credit card and that's what we're doing.

Furthermore, we have to refinance something close to $10 trillion worth of short-term debt, government debt, at higher rates.

So the rates are going to be at somewhere between 4% and 5%, which is going to exacerbate the interest that we're paying.

Not the 2% and 3% that it has been at.

Right.

And so it's kind of like there's this show.

A bill, yeah.

Yeah.

Look, man, don't blame the player, blame the game.

There is not a single member of Congress that's going to win an election by saying, hey, I'm going to provide less benefits to my constituents.

This doesn't work that way.

And the Fed becomes the buyer of last resort for a lot of things, at least it has over the last 20 years.

It's sort of colloquially known as the Fed put, right?

The Fed will provide a backstop to anything going wrong with the economy.

Now, there comes a point where— So we just watch it go off the cliff.

Well, we got to stop.

We got to do something.

Yep.