Freedom, Finances, and Federalism with Tom Savidge | Let People Prosper Ep. 132 🎙️

What if freedom wasn’t just about opportunity-but also the ability to fail? In this episode of the Let People Prosper Show, Thomas Savidge, a research fellow at the American Institute for Economic Research, joins me to discuss the nuances of economic responsibility. From federal spending’s grip on state budgets to the long-term impact of public debt, this episode dives into the trade-offs shaping our economy.
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(0:00): Introduction - Meet Thomas Savidge and explore his journey into economic research.
(5:58): Federal Influence on State Budgets - Why 35% of state budgets come from federal dollars and what that means for state policies.
(12:01): Freedom and Responsibility - The philosophical foundation of economic thought and the role of individual responsibility.
(17:59): Public Debt Trade-offs - Examining the long-term consequences of borrowing on future economic growth.
(24:06): Optimism in Government Reforms - How we can improve efficiency without compromising freedom.
(29:52): Fiscal Rules and Stability - The importance of rules to limit spending and encourage sound monetary policy.
(39:04): Policy Pitfalls - The dangers of capping interest rates and over regulating emerging technologies like AI.