Phil Suttle
speaker
557 appearances
3 recordings
1 series
first heard Oct 2024
last heard Jul 2025
Phil Suttle’s voice in public audio — every appearance, attributed to the second.
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Appearances
that you know the the dependency ratio is falling and uh you know social security payments and Medicare payments keep going up and of course if you throw into that one losing all your immigrants
Uh then there's a big problem.
Well, I I think there's an issue here.
Um two two things.
One one is um that that you mentioned inflation as an out.
Well, good luck with that one.
I think you know investment commun It's too much of it.
Well, the investment community has learned very rapidly that that you need compensation for inflation.
So actually all the inflation does is shorten the effective maturity of the debt, so it makes the problem even worse.
I I think there's a big issue here, which I I I don't want to get too philosophical about, but I think it's something really important to recognize, and it's even more important as Hurricane uh uh Milton uh bears down on on Florida, which is that the state in the US has become a big catastrophic insurer.
Um it's true everywhere, but it's especially true in the US.
So the last two crises, the financial crisis and the COVID crisis.
crisis have led to a massive increase in government debt relative to GDP.
And that's never been offset by any ex post actions to run it back down again.
And of so each time the step gets higher, uh and each time it happens, everyone says, well the government will bail me out next time.
You know, so mention these these instead of dealing with climate change, this country is going to just
absorb climate change and look to the government to bail it out.
Even Florida, Republican Florida, will say, FEMA, come and help me, come and rescue me.
There'll be all sorts of rebuilding programs in stupid places generated by a desire to be bailed out.
So I I worry that this is the bigger problem rather than sort of activist fiscal policy.
Showing 421–440 of 557 · page 22 of 28
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