Rob Luna
๐ค SpeakerAppearances Over Time
Podcast Appearances
I can't even get people to pay attention for 60 seconds anymore.
Rob, I want to be wealthy.
I want to, cool.
I could teach you how to do it.
I just can't do it in three minutes.
They don't want to spend the time.
Yeah.
Yeah, well, to bondholders, right?
Some of them to China and other countries.
And internally, we hold that debt.
So yeah, it's a lot of debt that we have.
The big problem about it also is the vast majority of it is short-term financing, which is another thing.
When we had near zero interest rates, I don't know why we just didn't look to
refinance all our debt at longer term and zero interest rates, because now as interest rates tick up, the debt that we're having to pay is much higher.
So now we're paying over a trillion dollars in just the debt service, which is more than we spend on defense just to service that debt.
We're still, with this administration, running annually near a $2 trillion deficit that we're just adding on to that.
So then you start thinking, the point I was making before, like, well, how the hell do we get out of this?
We can't grow our way out of it.
Like, you have to do 8% to 10% GDP.
We're at, like, 2% GDP.