Part Two: The Biden Loan Forgiveness Scheme is Just Another Sign of Financial Dementia in Washington

Though currently embroiled in contract negotiations with the corporate brass at the Omaha Bugle,  Adam and Jeff continue with their discussion about the loan forgiveness plan proposed by President Biden which was recently struck down by the U.S. Supreme Court.  They view the Administration's cavalier attitude about adding another $400 billion to the national debt as symptomatic of a bigger problem in the D.C. bubble:  Very few people in power seem to care about the economic lunacy in which trillions of dollars are borrowed each year with little concern as to how it will ever be paid back.  Jeff points out that this borrowing is causing the interest on the national debt to explode and resulting in a crowding out effect that will impact popular government benefit programs.  According to Adam and Jeff, the fact that any public giveaway makes you feel good is probably a sign that you should not do it at all.  They also point out that cranking up the government printing presses never ends well because it does not ultimately lead to the production of more goods and services. Instead, it causes inflation to increase the prices of everything from food to housing to gasoline and typically outstrips any increases in earning power by workers.