Politics with Paul

Approachable, nonpartisan, and nonideological analysis of various political topics by nonpartisan political analyst, writer, researcher, and speaker Paul Rader.

Politics with Paul #44: The National Debt—And a Balanced Budget Amendment to the US Constitution?

E45 • Jun 10, 2025 • 41 mins

The national debt has ballooned to $36 trillion. Just about everybody agrees that it's a major issue...but yet we have significant trouble tackling it. We agree that the deficit and debt are not sustainable forever, but we often have much different ideas on how they need to be lowered. It's a complicated issue to sufficiently address because of a variety of financial, structural, and political factors. What is the history of the national debt? What makes up our national debt? How is it viewed as a campaign issue? Why is it so difficult to cut spending? Is a Balanced Budget Amendment to the US Constitution on the horizon? All this and more is on tap for today’s episode.

Key Points

The national debt has been a persistent issue throughout American history, influenced by major events such as wars, economic crises, and policy decisions.
Addressing the growing national debt is not just financially challenging but politically difficult, as cutting spending or raising revenue can act against the interests of elected officials, political groups, and constituents.
The call for a balanced budget amendment to the US Constitution is gaining more traction and exists in almost all state constitutions, but the exact stipulations for such an amendment are not as straightforward as you may think.

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Speakers

Paul Rader

Host • 100%

Chapters

0:00	Introduction: The National Debt
1:43	Deficit vs. Debt: What's the Difference?
4:15	A Brief History of the National Debt
14:05	How the Budget is Made for the US Government
20:45	What Makes Up Our Debt?
23:39	National Debt as a Campaign Issue
26:29	The Political Difficulty in Balancing Budgets
32:28	Is a Balanced Budget Amendment to the US Constitution in the Future?
36:41	Final Thoughts and Closing

Transcript

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