This week on RealClear Radio Hour, Michael Tanner tallies Uncle Sam’s ballooning entitlement debt and Romina Boccia pulls back the cover on the Beltway crony game.
My first guest is Michael Tanner, Cato Institute Senior Fellow and author of Going for Broke: Deficits, Debt, and the Entitlement Crisis. Michael contends U.S. national debt is following the same trajectory as did Greece. Beyond the $18 trillion balance sheet debt, he estimates unfunded future liabilities compound the on-the-books debt by another $70 to $140 trillion—with carrying costs poised to skyrocket when interest rates rise.
Wrapping up the show is Romina Boccia, Deputy Director and Grover M. Hermann Research Fellow in Federal Budgetary Affairs at the Heritage Foundation. Romina describes how Washington is driving corporate welfare policy. She details how taxpayers foot the cronyist bill—from direct subsidies, earmarks, and pork barrel spending to hidden regulatory schemes, federal loan guarantees, and “milker” bills that threaten individuals or industries to squeeze campaign contributions.
You can hear the discussion by listening to the full show as-aired on iTunes, or you can check out the podcasts hosted on YouTube and SoundCloud. Make sure to check back next week for another episode of RealClear Radio Hour.