Economist Dan Mitchell joins me to discuss what might be the biggest threat of all to American prosperity: the shocking and unconscionable US government debt. What does $20 trillion in Treasury IOUs really mean for the private economy? Will the US government ever default and force bond holders to take a well-deserved haircut—or will the Fed continue to bail out Congress with low-interest rates? Can this go on indefinitely, especially since other governments often have even worse fiscal and monetary policies? This is a sobering discussion of a reality politicians don't want to face.

Video Length: 00:12:02