Part 6/18:
Central to the dialogue is the notion that America’s most pressing challenge is insolvency. The country has been sustaining high levels of debt—escalating from approximately $8 trillion in 2008 to nearly $29 trillion today—with projections reaching unfathomable heights within two decades. He likens current borrowing practices to unwinding a Ponzi scheme, with increasing reliance on the Federal Reserve purchasing Treasury bonds, artificially suppressing interest rates.