We’ve hit the 80s and Reagan’s low tax and defence spending have contributed to the America’s worst foreign debt in history. It turns out the US has consistently been in debt, so why does this time matter? Well, because they’re borrowing heavily from the Japanese, and have turned from creditors to creditees. It leads to the deindustrialisation of the Midwest, the rise of Sony and the Walkman, and even Bill Clinton’s affair with Monica Lewsinky… But why did kids like Billy care? What does it mean for America’s political future? Can America ever be debt-free? Does that even matter? Iwan Morgan has even returned to talk us through it all! He’s sort of like a walking Economics for Dummies, which is perfect for a pair of economic dummies like us….
Learn more about your ad choices. Visit megaphone.fm/adchoices
Introducing: Oceans: Life Under Water
Introducing: Countdown To Dallas
The Finale: Rock 'n' Roller Cola Wars
China's Under Martial Law
Hypodermics on the Shore
Bernie Goetz
Crack
AIDS
Homeless Vets
Heavy Metal Suicide
Sally Ride
Wheel of Fortune
Russians in Afghanistan
Ayatollahs in Iran
Terror on the Airline
Palestine
Reagan
Begin
Punk Rock
Create your
podcast in
minutes
It is Free
The Geraint Thomas Cycling Club
The Fertility Podcast
Le French Rugby Podcast
Alan Cumming’s Shelves
Football Book Club