Jeffrey Sachs: DOGE Cuts Won't Be Enough, We're Going To Need Tax INCREASES, Too

It's going to take pain to dig out from under our debt & underfunded liabilities

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There can be little doubt we're at a material juncture:

Deficit spending and the resulting pile of debts and other sovereign liabilities are starting to place real limits on our economic prosperity.

In addition to these legacies of the past, the future is fast becoming more uncertain as many nations -- the US in particular -- are embarking on new policy directions very different from the status quo of recent decades.

Where is all this heading?

And are our odds for entering a better tomorrow increasing or decreasing?

To help us wrestle with these very large and important questions, we have the great privilege of speaking today with Jeffrey Sachs, professor of economics at Columbia, bestselling author, and global leader in sustainable development. The Economist ranked Professor Sachs as among the three most influential living economists.

He's long-term optimistic but short-term very concerned.

He thinks our debt & deficits are so dire that DOGE cuts & fiscal restraint won't be enough: that tax HIKES will be needed.

To learn why, as well as what other reforms he’d like to see pursued, click here or on the video below:

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Adam’s Notes: Jeffrey Sachs (recorded 2.25.25)

EXECUTIVE SUMMARY:

• Professor Jeffrey Sachs provides an in-depth analysis of the global economy, noting that while technological advancements offer long-term promise, the world is currently facing heightened geopolitical instability, environmental crises, and financial volatility. He highlights the shift from a unipolar U.S.-led world to a multipolar global order, stressing that the U.S. is struggling with unsustainable debt levels due to bipartisan fiscal irresponsibility.

• Jeffrey warns that the U.S. has accumulated massive public debt, exceeding 100% of GDP, and is on an unsustainable fiscal trajectory. He criticizes both political parties for perpetuating deficits through tax cuts and increased spending, warning that rising interest rates and the diminishing global dominance of the U.S. dollar will make borrowing more expensive and challenging in the future.

• In response to growing financial challenges, Sachs argues that