From WWE to GDP: Glenn Jacobs on the Fight for Fiscal Responsibility

From WWE to GDP: Glenn Jacobs on the Fight for Fiscal Responsibility

With Glenn Jacobs,

Mayor, Knox County, Tennessee

In this episode of Gross Domestic Problem, Mayor Glenn Jacobs (also known as WWE’s Kane) joins the show to discuss America’s national debt crisis, the impact of federal fiscal policy on local governments, and the challenges of balancing budgets without raising taxes. Glenn shares real-life stories about how property tax increases and inflation affect everyday citizens, explains the dangers of unchecked government spending, and advocates for fiscal responsibility, sound money, and a balanced budget amendment. Drawing on his interest in Austrian economics, he emphasizes the importance of individual freedom and the risks of central planning, leaving listeners with a clear message: responsible economic policy at every level of government is essential to safeguarding the future. Don’t miss this great conversation.

Key topics in today’s conversation include:

Introduction And Framing The National Debt Crisis (0:38)
Welcoming Glenn Jacobs and Setting Up The Discussion (1:53)
Property Taxes, Local Budgets, and Tax Burden On Citizens (3:01)
Reappraisals, Tax Increases, and Real-Life Impact Stories (5:42)
Economic Margins, Middle-Class Strain, and Government Responsibility (6:54)
The National Debt’s Impact On Local Government and Inflation (9:35)
Interest On The National Debt and Existential Fiscal Threats (12:26)
Local Leaders’ Challenges: Inflation, Tax Base, and Service Cuts (14:44)
The Feedback Loop: Inflation, Productivity, and Stagflation Risks (15:58)
Hyperinflation, Reserve Currency Status, and Global Economic Shifts (17:39)
Congressional Incentives, “Bringing Home The Bacon,” and Systemic Issues (21:10)
Policy Solutions: Balanced Budget Amendment and Sound Money (26:00)
Austrian Economics: Jacobs’ Intellectual Journey and Key Insights (29:10)
Individual Freedom, Economic Planning, and Human Action (33:20)
Comparing Political Regimes, Deregulation, and Economic Policy (36:24)
Closing Reflections, Wrestling Memories, and Farewell (41:34)

Gross Domestic Problem is a podcast from 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