Axios

America’s debt is growing fast, and Washington isn’t slowing down. In this conversation, Jim VandeHei and Mike Allen break down why trillion-dollar deficits have become normal, why neither party is seriously addressing it, and what it could mean for your money, Social Security, and the long-term stability of the U.S. economy. Timestamps: 00:00 – The miserable state of America’s fiscal health 00:22 – The $40 trillion national debt 00:53 – Interest payments will hit $2 trillion by 2036 01:08 – The "Latte Factor": Why cutting waste isn't enough 01:39 – A look back: When the U.S. actually had a balanced budget 02:08 – How the Republican Party’s stance on debt has changed 02:48 – How the debt crisis affects YOU (Social Security & Interest Rates) 03:27 – The political incentive to keep spending 04:13 – Why the problem is about to get much worse