national debt

The annual meeting of Berkshire Hathaway this past weekend was a celebration of Warren Buffett’s unparalleled record and his legendary charm. Today on the show, FT correspondents Katie Martin and Robert Armstrong talk about recent investments in energy stocks, Apple and the ultimate question: succession. Also, we invent a new festival – TrackerFest – and short Shell’s climate credit shenanigans. 

For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer

You can email Katie Martin at katie.martin@ft.com.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

RFK Jr. is making waves as a candidate in the current presidential race, first as a Democrat and now as an Independent. Born into the Kennedy dynasty, his early life was marked by personal and family tragedies, including the assassinations of his uncle, President John F. Kennedy, and his father, Senator Robert F. Kennedy. His resilience is evident in his battles with addiction, giving way to a career as a lawyer and activist for the environment, Indigenous land rights, and public health. Today, we delve into RFK Jr.’s vision for America and hope for the Democratic party, discussing a range of topics from chronic disease, AI, culture and entitlements, to foreign policy and his position on abortion. Join us as we explore these critical issues with Robert F. Kennedy Jr., seeking insights into his campaign and what it represents for the future of American politics.

- - - 

Today’s Sponsors:

ZipRecruiter - Try it ZipRecruiter for FREE: https://www.ziprecruiter.com/benguest

Policygenius - Get your free life insurance quotes: http://policygenius.com/Shapiro

Balance of Nature - Get 35% off Your Order of Fruits & Veggies + $10 Off Every Additional Set. Use promo code SHAPIRO at checkout: https://www.balanceofnature.com/

‘This episode was updated on 26th June to remove an error in how we quantified 32 trillion dollars’ The level of US government debt has just surpassed 32 trillion dollars. Negotiations over raising the borrowing limit once again went down to the wire a few weeks ago. But how concerned should we all be about how much the US government borrows? We investigate with the help of Kent Smetters, professor at the Wharton School of the University of Pennsylvania and Betsey Stevenson, Professor of Economics and Public Policy at the University of Michigan.

In the past decade or more, votes over increasing the U.S. debt ceiling have increasingly been used as a political tool. That has led to intense showdowns in 2011, 2013 and, now, 2023. 

This year, both sides of the argument are dug in and Republicans appear more willing to go over the cliff than in the past. 

What does this year’s showdown look like and how, exactly, did the United States’ debt balloon to $31 trillion?

Guest: Jim Tankersley, a White House correspondent for The New York Times.

Background reading: 

• Two decades of tax cuts, recession responses and bipartisan spending fueled more borrowing has set the stage for another federal showdown over the debt limit.
• Last week, America hit its debt limit. Here’s what to know. 

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.