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George Hall is a professor of economics at Brandeis University and formerly worked as an economist at the Chicago Federal Reserve Bank. George returns to the show to discuss the current fiscal status of the US, how the Big Beautiful Bill will impact the fiscal outlook going forward, the history of running deficits in the US, and much more.

Check out the transcript for this week’s episode, now with links.

Recorded on June 24th, 2025

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Timestamps

00:00:00 - Bumper

00:00:29 - Intro

00:01:55 - Current US Fiscal Status

00:05:45 - What Is Inflation?

00:10:18 - Fiscal Consequences of the US War with COVID

00:23:21 - World War COVID

00:25:05 - Before and After War

00:34:02 - Financing with Inflation

00:38:47 - World War II Period vs. Today

00:38:47 - World War II Period vs. Today

00:44:19 - Who Bears the Fed’s Losses?

00:47:14 - How to Foot the Big, Beautiful Bill

00:52:10 - Outro

Ben Harris served in numerous high-ranking roles as a public sector economist and is now the vice president and director of economic studies at the Brooking Institution. In Ben’s first appearance on the show, he discusses the fiscal health of the US government, including the rising primary deficient, the impact of the Big Beautiful Bill, the proposition of stablecoins and AI as a solution to our debt, his love of basketball and much more.

Check out the transcript for this week’s episode, now with links.

Recorded on June 18th, 2025

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Timestamps

00:00:00 - Intro

00:02:01 - Ben’s Career

00:05:18 - Fiscal Health of the United States

00:07:57 - Big Beautiful Bill

00:12:15 - Debts and Deficits

00:14:47 - Costs and Risks of the Rising US Debt

00:37:05 - Stablecoins as a Potential Solution to US Debt

00:41:49 - Debt Ceiling

00:50:02 - AI and the Economy

00:54:58 - Outro

Luis Garicano is a former member of the European Parliament and a professor at the London School of Economics. In Luis’s first appearance on the show he discusses his new book, Crisis Cycle: Challenges, Evolution, and the future of the Euro, the ever-changing landscape of digital money, his suggested reforms to the Euro, and much more.

Check out the transcript for this week’s episode, now with links.

Recorded on June 18th, 2025

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Follow David Beckworth on X: @DavidBeckworth

Follow Luis on X: @lugaricano

Follow the show on X: @Macro_Musings

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Timestamps

00:00:00 - Intro

00:00:55 - Future of Money

00:08:46 - Bank Regulation

00:12:51 - Stablecoins

00:23:35 - Crisis Cycle

00:56:05 - Outro