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Oct 17, 2018

Imagine, if you will, that the United States federal government somehow received all of the money it normally would for the entire year on January 1st. The day it would have spent it all and started deficit spending (that is, spending money it simply doesn’t have) could be dubbed “Deficit Day.” This year, 2018, that day falls on October 19th. From this day until the end of the year, the US Federal Government is spending money it doesn’t have to the tune of about $11 billion per day. So what does that mean for the government? What does that mean for the people? Join Antony Davies and James Harrigan as they dive into this and more on this week’s episode of Words & Numbers

Show Notes:

Trump administration stifles free speech

Foolishness of the Week

Government regulating pizza toppings

Topic of the Week: Deficit Day

Congressional Budget Office projections

Federal receipts and outlays over time

Interest rate on the federal debt

Student loan debt statistics

Flemming v. Nestor (1960): You do not have an earned right to Social Security benefits

Helvering v. Davis (1937): Social Security taxes are part of the general revenue

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