Should We Actually Be Worried About the National Debt | Diving In

Should We Actually Be Worried About the National Debt | Diving In

In this opening episode for Platypus Economics, Justin Wolfers explains why the federal budget deficit is one of the best examples of how economics can clarify a debate that politics often mangles. The central point is simple: deficits are not automatically good or bad, but a tool. And the only serious question is whether borrowing makes sense given the economy, the emergency, and the country’s ability to pay.

In a crisis, large deficits are often smart policy—stabilizing incomes, supporting jobs, and keeping an economic downturn from becoming a disaster. But today’s U.S. deficit is different. America is currently running a very large deficit—about 5.8% of GDP—without the usual crisis justification. The stakes are not instant collapse, but a slower erosion of fiscal capacity, institutional credibility, and the ability to spend on things that could actually improve your life.

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Episoder(141)

What Halloween Candy Reveals About Inflation | Off the Clock

What Halloween Candy Reveals About Inflation | Off the Clock

Why is inflation rising faster than your wages? It's a cost-push energy shock, not the good kind.Justin Wolfers and Bloomberg's Stacey Vanek Smith dig into the latest inflation report on Off the Clock...

17 Okt 42min

Why Official Inflation Can Seem Too Low | The Professor Is In

Why Official Inflation Can Seem Too Low | The Professor Is In

Prices rose 3.7% over the past year, core inflation is stuck around 2.6%, and your paycheck is buying less than it used to — yet it feels like everything costs way more than that. Economist Justin Wol...

16 Okt 29min

The Latest Inflation Report, Explained | Diving In

The Latest Inflation Report, Explained | Diving In

The latest inflation report just dropped, and Justin Wolfers digs into why it's worse than Wall Street expected. Headline inflation came in at an eye-popping 3.7% — well above the Fed's 2% target — an...

14 Okt 15min

The Hidden Force Dragging Down Consumer Sentiment | Diving In

The Hidden Force Dragging Down Consumer Sentiment | Diving In

Americans feel almost exactly as gloomy today as they did in 1980 — when inflation was near 14% and unemployment was close to 8%. Today those numbers are a fraction of that, yet consumer sentiment hit...

12 Okt 19min

The Nobel-Winning Insight That Made Spending Hard to Predict | Diving In

The Nobel-Winning Insight That Made Spending Hard to Predict | Diving In

Why Robert Hall and Michael Woodford won the 2026 Nobel Prize in Economics — explained simply. This morning Robert Hall and Michael Woodford won the 2026 Nobel Prize in Economics, and Justin Wolfers c...

12 Okt 24min

The G7’s 100 Million Barrel Announcement Changes Nothing | The Professor Is In

The G7’s 100 Million Barrel Announcement Changes Nothing | The Professor Is In

Justin Wolfers takes apart a headline that circled the globe: the G7 announcing it will release 100 million barrels of oil it had already promised to release back in March 2026. On this episode of Div...

9 Okt 26min

Trump's Red Diesel Order, Explained | Diving In

Trump's Red Diesel Order, Explained | Diving In

Justin Wolfers digs into President Trump's new executive order letting truckers fill up with red diesel — the tax-free fuel normally reserved for farmers, construction crews, and miners — and deferrin...

8 Okt 19min

This Oil Deal Sounds Huge. Until You Do the Math | Diving In

This Oil Deal Sounds Huge. Until You Do the Math | Diving In

Trump calls it a massive win: 100 million barrels of emergency oil and fuel released to bring diesel prices down. In this episode of Diving In, Justin Wolfers reads the G7 communique line by line and ...

7 Okt 25min

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