BONUS EPISODE | The Death of the Dollar | The Clay Travis and Buck Sexton Show

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And if you haven't checked us out yet, here's a sample of what you'll hear. Welcome to today's edition of the Clay Travis and Buck Suxton show podcast.
Buck, I wanted to talk about this because we mentioned it yesterday.

The Senate has passed a $95.3 billion payment,

your tax dollars going to fund the border

and protect the border of Ukraine, Taiwan, and Israel.

22, I believe, is the number Republican senators supported this bill. It's now moving on to the House.
Yesterday, I was reading, and I just want to ask you, I want all of you to think about this as a broad idea. We are now $35 trillion roughly in debt when the tea party started and became an issue we were at 10 trillion dollars in debt so we're averaging adding about a trillion dollars a year to our national debt i saw a report from the congressional budget.
I was reading about it yesterday, Buck, that we are on pace to have a $54 trillion federal deficit a decade from now. And my son is 16 years old.
He's a sophomore in high school. And he's just starting to study economics.
And we were having this conversation recently. The dollar is the default currency for the world.
What happens if suddenly our foreign adversaries who own trillions of dollars in American debt, what happens, Buck, if one day they just decide they're not going to buy the debt that we are constantly issuing out there? What you're talking about is the death of the dollars, the global reserve currency, and the end of American dominance in all respects, including our quality of life that we have gotten very used to in this country, where we can be these massive consumers and and get deeply indebted. And it doesn't really affect things for us.
I mean, part of the problem is, yes, we complain the economy is not as good now as it should be. And but you've spent some time in countries, I'm sure, where you see what real economic deformation looks like or real economic reversal looks like.
And it is it is a shocking thing. It is a devastating thing to that nation.
And I think that, unfortunately, right now, we We don't have a system that will allow this to turn around uh we don't have people who are willing to make decisions today that take the future into account this is a function of math isn't it interesting there are so many people who are much more concerned about climate it seems than about the debt these days yeah One of them is a real thing that is not a real problem, meaning climate is changing, it is always changing. Yes, of course it changes.
There's no real threat to humanity and to us whatsoever. The other thing is a mathematical certainty that the debt burden will become so heavy that it will crowd out other spending and it will change the lives of the American people in future generations in ways that we would really hate to see.
And that can, of course, lead to social unrest, civil unrest, all kinds of other problems as well. But I can sit here and talk about it and we can talk about where the debt was in the Tea Party era in 2010 versus where it is now.
I think it was, what was what was it uh 10 trillion yeah we've added 25 trillion in debt since the tea party so you know we we talk about this and look uh you know one way that one way that trump hit ron de santis right away and it was effective was ron wanted to cut entitlements even among republicans this is some real talk even among republicans you want to win say you won't touch entitlement spending you say you won't touch the retirement age as long as that continues we're just going to keep i mean that's for me i don't want to be overly fatalistic about it but maybe maybe that's what i'm being until people feel pain they won't change and the problem with this is once you start to feel the pain then the change is really too late yeah it's all too late and this is where we are you know think about that i mean trump has said i won't touch your your social security i won't touch your medicare i won't touch uh you know entitlement spending i won't touch a retirement age and that's a republican from outside the establishment and anyone who would run against him in this primary or you know anyone who going forward is running as a Republican, they know they'll

lose if they say they want to touch any of those things.

And you bring that up now.

People always say, Clay, I've paid into this my whole life.

Social security is fixable and that's doable.

You just make some change.

You do a little bit of means testing for rich people and you raise the retirement age a

couple of years.

You figure out when you do that.

You get out the actuarial table.

It's not the end of the world. Medicare is a big problem because people say oh i've been paying into it the average person the average person takes out twice in medicare spending what they pay and do over the course of their lifetime and a vast majority of that spending comes in the last six months of life yeah so we have to fix these things somehow but no one you know you say you want to fix it you're a bad person you say you want to change it you know you and i are getting older well you know at some point we're gonna want medicare too i want it to be there and i want it to be a functioning program for people but i don't know man we sit here we talk about it look at this foreign spending we're doing why are we getting that's why it ties in that's why why it ties in.
That's why it ties into me. Why are we giving any of these countries? And notice, is there anyone who has been more vocally in support of Israel, well, period, but also since October 7th than we have been on this show? I don't think so.
Even yesterday, I tell, there's a little, what do you mean you're talking? Israel's a wealthy country. Why are we giving Israel $16 billion? Why do we give it $3 billion every year? And it's not just Israel.
Why are we giving $60 billion to Ukraine? Why do we have the foreign aid budget that we have in total? What are we actually getting for this? I agree completely. And I think it, look, if you want to give to charity, because let's be honest, that's basically what we're doing here, then most of you, if you ran your household, you wouldn't go in debt to donate to charity.
In fact, your husband or wife, if you sat down at the table and you said, hey, for part of our budget this year, I want to give $5,000 in charity on the credit card, every single one of you out there would look at your spouse like they were absolutely insane. If you wouldn't do in your household what the United States government is doing for our entire household, and Buck, I don't see this as Democrat, I don't see this as Republican.
I don't see this as independent. To me, anyone voting to give $100 billion, rounding up from $95 or $96 billion, to foreign countries when we are $35 trillion in debt, I think your analogy with global warming is a really good one.
One of the biggest issues in life, this is me giving you a little bit of a TED talk, is most people fear things which in reality are not threats to them. And you spend a lot of time being fearful of things that are never going to be an issue in your life.
You and I are in our 40s. I've got three kids, 16, 13, and 9.
I'm building a beach house. I've said before, I ain't worried about the rising oceans.
Maybe it's going to be an issue for my beach house. If so, I was wrong.
I'll deal with it. I am insanely worried about the fact that at some point in my kids' lives, maybe even some point in my life, we're going to be $100 trillion in debt.
And if you don't think that our adversaries out there are not planning on bankrupting this country, everybody wants to talk about, oh, there's a new threat from Russia. Oh, there's a new threat from China today.
The big looming asteroid that is aimed right for America, that is in danger of obliterating this country, is we're going to have $55 trillion in debt a decade from now, and then just the interest on our national debt is going to become soon the biggest single expenditure that this country has. There's a long history of this, of fiat currency.
You can go back and even look at the usage of paper currency in China over a thousand years ago. I mean, once they start printing it in paper and once the money has no intrinsic value, it's not backed by anything, what happens? Inflation happens.
And inflation, we all know what that does, particularly to those who don't hold assets. And then the political, this is the problem we're in right now, the political mechanism to check it, even in a republic like ours, right, even in a system where the people who are suffering from the inflation, who are suffering from these decisions, are the ones who are supposed to be able to make it right.
No one can win and get the power they need to solve the problem because the person who says, keep eating those treats, they won't make you fat, keep eating a whole chocolate cake every night, there's no problem with it, that person wins because they're appealing to the immediate and they're appealing to the sense that I get mine, I'm not worried about what comes down the line. That is what it is.
Bipartisan in this country. It is the truth.
And you're not even really here. And, you know, we're we're we're hopefully going to elect a president who's obviously far better than Joe Biden.
Donald Trump's not going to touch the debt. Anyone anyone take bets on that one? Not going to touch the debt.
He's going to spend a lot. Just Donald Trump spent six trillion dollars last year in office.
Everybody. I know it was covid.
I know. Oh, we can't we can't blame Trump for anything.
Look, I love the guy. I'm hoping he's going to be president.
But if we're talking about the debt, you know, this is the situation, folks. I don't know.
Man, I just I are a bummer on Valentine's Day.'s Day. I think it ties in so much with the failure that we have from our elected officials.

We are $35 trillion in debt, and they are telling us it's anti-American

if we won't take out $100 billion in additional debt

and send it to foreign countries to protect their own border while our border is wide open. And this, to a large extent, in the Senate is bipartisan.
And I just look at it and I say, no one would run their family finances like the United States government does. And just think about it.
Donating to Cherry is a fabulous thing to do. If you were donating $5,000 to charity on your credit card that you didn't have, and you were going to have to pay interest on that donation, none of you would do it.
And if you had a spouse that suggested it, you would tell them that they're crazy. You certainly wouldn't say it's un-american your your analogy is is actually people are uh are saying hey let's do something really nice for for some other family let's do something really nice for some other family because it's going on someone else's credit card and that's what people don't realize it's actually our's the credit, the faith and credit of the American people.
And we're all in it together on the dollar. It's not even a partisan thing.
I don't want the dollar to collapse for any of us because then it collapses for all of us. And also to then argue that if I'm opposed to that, I'm in not an American, that it's un-American to be opposed

to spending $100 billion

on somebody else's border?

If we had a budget surplus,

that's a conversation we could have.

We don't have a budget surplus.

In fact, I'm concerned

that all of this is

going to blow up one day. We're going to

try to sell debt, and

there ain't going to be a buyer.

What happens then? Look out.

Look out in a big way.