BONUS EPISODE ｜ The Death of the Dollar ｜ The Clay Travis and Buck Sexton Show
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Summary
Clay Travis and Buck Sexton talk about the growing national debt in the U.S. Buck Suxton: We're on pace to have a $54 trillion federal deficit a decade from now . The debt burden will become so heavy that it will crowd out other spending and it will change the lives of the American people in future generations, they say . Tucker Carlson: We want to rally the forces for good, making sense in an insane world .
Transcript
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Clay Travis here from the Clay Travis Buck Sexton Show.
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Known him a long time, both personally and professionally.
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We always talk about how to get more people on Team Sanity,
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the untapped masses who favor common sense over craziness.
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We want to rally the forces for good, making sense in an insane world.
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Tucker's a truth warrior, someone we want in our foxhole.
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Pretty easy, but also fun, because we get into it every day for three hours.
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Subscribe to the Clay and Buck podcast on the free iHeartRadio app
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And if you haven't checked us out yet, here's a sample of what you'll hear.
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Welcome to today's edition of the Clay Travis and Buck Suxton show podcast.
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Buck, I wanted to talk about this because we mentioned it yesterday.
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Your tax dollars going to fund the border and protect the border of Ukraine, Taiwan, and Israel.
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Twenty-two, I believe, is the number Republican senators supported this bill.
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And I just want to ask you, I want all of you to think about this as a broad idea.
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When the Tea Party started and became an issue, we were at $10 trillion in debt.
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So we're averaging adding about $1 trillion a year to our national debt.
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I saw a report from the Congressional Budget Office.
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I was reading about it yesterday, Buck, that we are on pace to have a $54 trillion federal deficit
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The dollar is the default currency for the world.
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What happens if suddenly our foreign adversaries, who own trillions of dollars in American debt,
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what happens, Buck, if one day they just decide they're not going to buy the debt
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What you're talking about is the death of the dollars, the global reserve currency,
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and the end of American dominance in all respects, including our quality of life
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that we have gotten very used to in this country, where we can be these massive consumers
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I mean, part of the problem is, yes, we complain the economy is not as good now as it should
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be, but you've spent some time in countries, I'm sure, where you see what real economic
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deformation looks like or real economic reversal looks like.
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And I think that, unfortunately, right now, we don't have a system that will allow this
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We don't have people who are willing to make decisions today that take the future into account.
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There are so many people who are much more concerned about climate, it seems, than about
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One of them is a real thing that is not a real problem, meaning climate is changing.
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It bears no real threat to humanity and to us whatsoever.
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The other thing is a mathematical certainty that the debt burden will become so heavy that
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it will crowd out other spending and it will change the lives of the American people in future
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generations in ways that we would really hate to see.
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And that can, of course, lead to social unrest, civil unrest, all kinds of other problems
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But I can sit here and talk about it and we can talk about where the debt was in the Tea
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We've added 25 trillion in debt since the Tea Party.
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So, you know, we talk about this and look, you know, one way that one way that Trump hit
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Ron DeSantis right away and it was effective was Ron wanted to cut entitlements even among
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Even among Republicans, you want to win, say you won't touch entitlement spending.
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As long as that continues, we're just going to get.
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I don't want to be overly fatalistic about it, but maybe maybe that's what I'm being until
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And the problem with this is once you start to feel the pain, then the change is really
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I mean, Trump has said, I won't touch your Social Security.
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And that's a Republican from outside the establishment.
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And anyone who would run against him in this primary or anyone who going forward is running
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as a Republican, they know they'll lose if they say they want to touch any of those
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People always say, Clay, I've paid into this my whole life.
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You do a little bit of means testing for rich people and you raise the retirement age a couple
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Medicare is a big problem because people say, oh, I've been paying into it.
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The average person, the average person takes out twice in Medicare spending what they pay
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And a vast majority of that spending comes in the last six months of life.
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But no one, you know, you say you want to fix it.
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Well, you know, at some point we're going to want Medicare, too.
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I want it to be there and I want it to be a functioning program for people.
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And notice, is there anyone who has been more vocally in support of Israel, well, period,
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but also since October 7th than we have been on this show?
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Even yesterday, I tell, there's a little, what do you mean you're talking?
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Why do we have the foreign aid budget that we have in total?
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And I think it, look, if you want to give to charity, because let's be honest, that's
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Then most of you, if you ran your household, you wouldn't go in debt to donate to charity.
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In fact, your husband or wife, if you sat down at the table and you said, hey, for part of
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our budget this year, I want to give $5,000 in charity on the credit card, every single
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one of you out there would look at your spouse like they were absolutely insane.
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If you wouldn't do in your household what the United States government is doing for our
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entire household, and Buck, I don't see this as Democrat.
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To me, anyone voting to give $100 billion, rounding up from $95 or $96 billion, to foreign
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countries when we are $35 trillion in debt, I think your analogy with global warming is
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One of the biggest issues in life, this is me giving you a little bit of a TED talk, is
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most people fear things which in reality are not threats to them, and you spend a lot of
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time being fearful of things that are never going to be an issue in your life.
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I've said before, I ain't worried about the rising oceans, all right?
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Maybe it's going to be an issue for my beach house.
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I am insanely worried about the fact that at some point in my kids' lives, maybe even some
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point in my life, we're going to be $100 trillion in debt.
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And if you don't think that our adversaries out there are not planning on bankrupting this
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country, everybody wants to talk about, oh, there's a new threat from Russia.
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The big looming asteroid that is aimed right for America, that is in danger of obliterating
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this country, is we're going to have $55 trillion in debt a decade from now, and then just the
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interest on our national debt is going to become soon the biggest single expenditure that this
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Well, there's a long history of this, of fiat currency.
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You can go back and even look at the usage of paper currency in China over 1,000 years
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I mean, once they start printing it in paper, and once the money has no intrinsic value,
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And inflation, we all know what that does, particularly to those who don't hold assets.
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And then the political, this is the problem we're in right now, the political mechanism
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to check it, even in a republic like ours, right, even in a system where the people who
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are suffering from the inflation, who are suffering from these decisions, are the ones who are supposed
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No one can win and get the power they need to solve the problem, because the person who
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says, keep eating those treats, they won't make you fat, keep eating a whole chocolate
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cake every night, there's no problem with it, that person wins, because they're appealing
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to the immediate, and they're appealing to the sense that I get mine, I'm not worried about
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That is what, it is bipartisan in this country, it is the truth, and you're not even really
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hearing, you know, we're hopefully going to elect a president who's obviously far better
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than Joe Biden, Donald Trump's not going to touch the debt, anyone take bets on that
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one, not going to touch the debt, he's going to spend a lot, just, Donald Trump spent six
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trillion dollars last year in office, everybody, I know it was COVID, I know, oh, we can't
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blame Trump for anything, look, I love the guy, I'm hoping he's going to be president,
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but if we're talking about the debt, you know, this is the situation, folks, I don't
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know, man, I just, I, we are a bummer on Valentine's Day, I just, I, I think it ties
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in so much with the failure that we have from our elected officials, we are, we are 35 trillion
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dollars in debt, and they are telling us it's anti-American if we won't take out a hundred
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billion dollars in additional debt and send it to foreign countries to protect their own
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border while our border is wide open, and this to a large extent in the Senate is bipartisan,
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and I just look at it and I say, no one would run their family finances like the United States
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government does, and just think about it, if you, donating to charity is a fabulous thing
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to do, if you were donating five thousand dollars to charity on your credit card that you didn't
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have, and you were going to have to pay interest on that donation, none of you would do it,
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and if you had a spouse that suggested it, you would tell them that they're crazy, well,
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but you certainly wouldn't say it's un-American, your analogy is, is actually people are, are
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saying, hey, let's do something really nice for, for some other family, let's do something
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really nice for some other family, because it's going on someone else's credit card, and that's
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what people don't realize, it's actually our credit card, it's the credit, the faith and credit of the
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American people, and we're all in it together on the dollar, it's not even a partisan thing, I don't
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want the dollar to collapse for any of us, because then it collapses for all of us. And also, to then
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argue that if I'm opposed to that, I'm not an American, that it's un-American to be opposed to
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spending $100 billion on somebody else's border, if we had a budget surplus, that's a conversation
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we could have, we don't have a budget surplus, in fact, I'm concerned that all of this is going to
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blow up one day, we're going to try to sell debt, and there ain't going to be a buyer, and what
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happens then, look out, I mean, look out in a big way.