Budgeting on Autopilot: How the National Debt Could Sink Us All

Budgeting on Autopilot: How the National Debt Could Sink Us All

With Kurt Couchman,

Senior Fellow, Fiscal Policy, Americans for Prosperity

In this episode of Gross Domestic Problem, host William Glass is joined by Kurt Couchman, Senior Fellow of Fiscal Policy at Americans for Prosperity. During the conversation, Kurt explains the complexities of federal budgeting, highlighting the distinction between appropriations and mandatory spending. He emphasizes the need for comprehensive budget reform to address inefficiencies and ensure fiscal stability. The conversation explores the potential consequences of a debt crisis, the role of citizen engagement in legislative reform, and the importance of bipartisan efforts. The episode also underscores the necessity for proactive measures to prevent economic turmoil and improve governance. Don’t miss it!

Key topics in today’s conversation include:

Kurt’s Background and Expertise (1:03)
The Budgeting Process (2:11)
Understanding Appropriations (5:15)
Mandatory vs. Discretionary Spending (7:32)
Impact of Automatic Spending (11:01)
Historical Context of Fiscal Policy (13:22)
No Do-Nothing Option (15:53)
Debt Crisis and Reconciliation Legislation (17:54)
Consequences of a Full-Blown Debt Crisis (20:30)
Congressional Dysfunction and Reform (24:56)
Opposition to Comprehensive Budget Act (27:17)
Improving the Federal Budget Process (29:15)
Fixing Congressional Shutdowns (31:19)
Committee Process and Budgeting (34:04)
Effective Communication with Legislators (36:55)
Optimism for Congressional Reform and Parting Thoughts (38:40)

Gross Domestic Problem is a podcast from the Millennial Debt Foundation focusing on America’s biggest financial crisis. Each episode, we break down how we got here, what happens if we don’t act, and the least painful way forward. There’s no do-nothing solution. Subscribe now at grossdomesticproblem.com and join the conversation.

About the Show

William Glass

William Glass is a leader in the national conversation on fiscal responsibility, serving as a key voice for the Millennial Debt Foundation. As a passionate advocate for responsible government spending and debt reduction, William works to engage policymakers, young professionals, and thought leaders in addressing America’s growing national debt crisis. Through his work with the Foundation, he champions bipartisan solutions and fosters meaningful dialogue on the economic challenges facing future generations. William brings a fresh perspective to fiscal policy, emphasizing the importance of long-term financial stability and responsible governance.

The Millennial Debt Foundation was launched in mid-2019 by Tennessean Weston Wamp and other millennial entrepreneurs to lead a generational conversation about fiscal stewardship, the role of the federal government and America’s deficit spending crisis. Inspired by the work of our early advisor, the late U.S. Senator Tom Coburn, M.D., the Foundation’s first major project was the Millennial Debt Commission. The business-led Commission is made up of 20 millennial business leaders from across the country working towards a framework for long-term deficit reduction and stabilization of the national debt. The business leaders have been advised by a cohort of current and former members of Congress, leading economists and policy experts. MDF is a nonpartisan, Tennessee-based 501(c)(3) nonprofit funded by individual donors, the Lynde and Harry Bradley Foundation, and Arnold Ventures.

Learn More at millennialdebt.org