Tom Woods on the U.S. government debt crisis

By now you probably know my opinion on all this: the debt problem is not going to be solved.  Almost nobody cares about it, and even people who profess to care are not nearly prepared to take the kinds of steps that need to be taken. 

It will eventually resolve itself in the form of a severe crisis.  Until then, nothing is going to be done. 

I am not normally a pessimist, as I think is obvious enough from my tone on the Tom Woods Show, but on this I know I'm right.

That doesn't make politics entirely useless: there are issues other than debt, and there's been positive movement on a handful of those.  But the spending problem will not be brought under control before the crisis.  That should be obvious.

~ Tom Woods, June 3, 2025