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

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.

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