The UK has accumulated £3.4 trillion in debt, and the interest payments alone now dwarf the national defence budget. Author and journalist Ross Clark argues that the nation is sleepwalking into a sovereign debt crisis that politicians refuse to acknowledge. We discuss the brutal arithmetic of the public purse, detailing why standard political talking points - like taxing billionaires-are mathematical illusions that fail to address the core rot of uncontrolled state spending and collapsing public sector productivity.- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -TIMESTAMPS:00:00:00 - Print The Money, Get Hyperinflation00:01:17 - Is Britain Bust Or Trading Insolvent?00:02:57 - Whose Fault Is This?00:07:24 - Taxing The Billionaires Buys Six Months00:09:12 - How Bad Is The Debt Really?00:12:07 - Perma-Stimulus00:14:22 - No Party Has A Viable Plan00:17:32 - What The Public Actually Thinks About Tax00:19:21 - Three Choices On The Bond Market00:24:02 - Where He Would Cut00:25:33 - The Motability Scheme00:29:03 - The Client State00:30:06 - Austerity Never Actually Happened00:34:21 - Productivity Is Almost Everything00:44:32 - The Chancellor's Oldest Trick00:46:51 - The Wealth Tax Trap00:50:03 - The 1976 Tribute Act00:55:59 - What Liz Truss Got Wrong00:59:18 - How Would You Know A Crisis Had Started?01:04:38 - What Gives Him Confidence- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -CONTACT PETE› Website – http://petermccormack.com› Feedback – https://www.petermccormack.com/contact› Email – me@petermccormack.com› Instagram – https://www.instagram.com/mccormack555/› X/Twitter – https://x.com/petermccormack/CONNECT WITH ROSS CLARK› The Spectator – https://www.spectator.co.uk/writer/ross-clark/› Substack – https://rossjonathanclark.substack.com/SPONSORS› IREN – https://www.iren.com/› Ledn – https://www.ledn.io/peter› Venice AI – https://venice.ai/ – Code PETER15- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -LISTEN / SUBSCRIBE› Apple Podcasts: https://apple.co/40ruY9K› Spotify: https://spoti.fi/3Wc94Vu› Fountain: https://bit.ly/FountainPM› YouTube: https://bit.ly/YouTube_PM› Rumble: https://bit.ly/RumblePMFILMED BY CURTIS TAYLOR›