In this episode of Gross Domestic Problem, William Glass explores why more Americans are searching for information about the national debt, even as few cite it as a top concern. He connects rising Treasury yields and government borrowing to mortgage rates, business costs, inflation, and everyday affordability, and considers how AI search tools may help people see those connections. The key takeaway: market pressures could be raising awareness of the debt before Washington acts, but Treasury measures that soften the signals may delay the fiscal choices needed to address it.

Key topics in today’s conversation include:

• The National Debt Suddenly Gets More Attention (0:41)
• Public Concern Versus Unprompted Priorities (3:39)
• What Past Debt-Awareness Spikes Had in Common (6:102)
• How the Debt Affects Everyday Affordability (9:21)
• Treasury Yields, Mortgage Rates, and Inflation (12:18)
• AI Search Helps Connect the Economic Dots (16:13)
• Why Investors Demand Higher Yields (20:07)
• Borrowing More to Pay for Rising Interest Costs (23:10)
• Treasury Buybacks and Short-Term Debt (24:52)
• The Risk of Muting Market Signals (28:01)
• Washington’s Deficit-Spending Consensus (30:17)
• Could Public Awareness Spur Fiscal Responsibility? (31:52)

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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In this episode of Gross Domestic Problem, William Glass breaks down popular claims that the federal minimum wage should be $24 an hour by arguing that such comparisons misuse history, productivity data, and demographics. He explains that while today’s $7.25 minimum wage has clearly lost purchasing power, very few workers actually earn it now compared to 1968. Many low-wage roles are held by young, untrained workers whose labor markets and productivity look very different from high-tech sectors. William also emphasizes the trade-offs of blanket federal wage floors, suggesting that issues like housing policy, inflation, and national debt are bigger drivers of affordability problems than simple “greedy rich vs poor workers” narratives. He calls for more nuanced, evidence-based debate, stronger but well-designed safety nets, and a recognition that complex economic challenges cannot be solved with simplistic, emotionally charged rhetoric.

Key topics in today’s conversation include:

• Viral Minimum Wage Video and $24 an Hour Claim (0:46)
• Why 1968 vs Today Is Not an Apples-to-Apples Minimum Wage Comparison (2:12)
• How Few Workers Actually Earn Federal Minimum Wage Today (3:47)
• Minimum Wage, Teen Workers, and Training vs Living Wages (5:28)
• Comparing Wage Percentiles and What Workers Really Earn Now (7:03)
• Productivity Growth in Different Sectors and Why Averages Mislead (8:51)
• Wage Floors, Economic Distortions, and Alternatives like Housing Policy (10:36)
• Middle Class Squeeze and Who Feels the Most Economic Pain (12:11)
• Inflation, Money Printing, and the Asset vs Wage Earner Divide (13:44)
• National Debt, Interest Rates, and the Housing Affordability Crisis (15:27)
• Limits of Government Prediction, AI Shocks, and Need for Safety Nets (17:07)
• Moral Case for Supporting Essential Low-Productivity Jobs (18:41)
• Rejecting “Greedy Billionaires” Rhetoric and Demanding Nuance (20:12)
• Closing Call to Think Beyond Algorithms and Engage in Hard Trade-Offs (21:46)

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.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Gross Domestic Problem, William Glass and Mark Mills explore how the seemingly “weightless” world of AI is colliding with hard physical limits: data centers, power plants, steel, concrete, and permitting. They trace the history of computing and data centers, explain why AI drastically raises energy and infrastructure demand, and argue that the U.S. remains far ahead in both AI models and data center buildout—but risks “Sovietizing” its economy through bad policy, overregulation, and anti-industrial politics. They debunk the idea of a truly post-industrial society, show how private investment in AI infrastructure can drive productivity and help manage America’s massive debt, and emphasize that growth in energy capacity and industrial capability is both technically feasible and essential if the U.S. wants to reap the benefits of the AI boom rather than just invent it for others.

Key topics in today’s conversation include:

• AI, Data Centers, and America’s Capacity Problem (0:03)
• Mark Mills’ Background in Semiconductors, Energy, and Policy (5:09)
• How AI Changes Compute, Inference, and Energy Use (9:43)
• The Scale and Future of Global AI Data Center Buildout (13:08)
• Bubbles, Railroads, Fiber Optics, and Real Infrastructure Booms (16:13)
• Business Adoption of AI and Early Productivity Gains (18:15)
• Artificial Illumination Analogy and Unpredictable New Industries (19:31)
• Is America at Risk of Inventing AI but Losing Its Benefits? (21:57)
• Private Grids, Public Grids, and Powering AI Data Centers (25:13)
• Do We Actually Have Enough Energy Capacity for AI? (28:54)
• The Myth of a Post-Industrial Economy and Need for Heavy Industry (33:47)
• Offshoring Industry to China and the Reality of “Clean” Tech (35:27)
• Clean Tech Spending, Debt, and Why AI Investment Is Different (41:03)
• AI, Productivity Growth, Healthcare, and Escaping the Debt Trap (42:15)
• Final Thoughts and Looking Ahead to the Next AI Buildout Phase (46:49)

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.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.