Robert Peston

speaker

5,697 appearances 44 recordings 5 series first heard Nov 2025 last heard 3d ago

Robert Peston’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 44 in all, peaking in Jun 2026 with 9.

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The Rest Is Money · 311. Why is the US debt crisis a big problem for Burnham? · 6 Sep 2026 podcast

This is the manifestation um in part of you know the damage done by Trump's war in Iran, but there are also wider financial concerns, aren't there, Steph? matched

It certainly is. matched

And and let's because this is the moment where it's always important to get people's brains exploding. matched

It it's worth just for a second looking at the biggest borrower in the world, Trump and um and and America. matched

Um and uh there are sort of three numbers I'm gonna share with you, uh but they are the kind of numbers which are almost impossible to comprehend. matched

So just to refinance maturing debt every year, um maturing American government debt, the American government has to find ten billion pounds a year, right? matched

On top of that, because uh Donald Trump turns out, despite what he promised, to be pretty spendthrift, they've got to borrow new money. matched

I'm talking matched

trillions here, right? matched

So that's twelve trillion, right? matched

But and this is the bit where you where where honestly um uh it's like going to the edge of a a really high cliff and looking over. matched

The American government borrows an enormous amount in the form of bills which is very short term borrowing borrowing that lasts for only a few weeks right and that has to be rolled over in new matched

So if you add together matched

Both the maturing short term debt, right? matched

And the uh longer term debt and the new money, right? matched

E ha the American government has to refinance every year something like thirty trillion dollars, right? matched

Sort of two and a half trillion every month. matched

They've got to find two and a half trillion and what matched

One of the reasons why people get anxious about America's ability to pay its way is, let's just say, right, you've been talking about the enormous amounts of money being raised by the artificial intelligence hyperscalers, the money that's coming from private credit, the money that's backed, the private credit money that's somehow underwritten in some cases by the banking system. matched

You know, we've got a more than a trillion dollars of of matched

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