Interest payments explained

Why don't we just print more money

Who actually pays the national debt

How population change affects this story

In this follow-up to an episode diving in to the federal deficit, Justin Wolfers responds to audience comments and questions including: where are interest payments going? Why can’t the government just print more money? And how do changes in immigration impact our ability to pay back our debt?

If you'd like Justin to answer your question in a future segment of The Professor Is In, leave a comment below.

And don’t forget to rate and review!

In this follow-up to an episode diving in to the federal deficit, Justin Wolfers responds to audience comments and questions including: where are interest payments going? Why can&rsquo;t the government just print more money? And how do changes in immigration impact our ability to pay back our debt?
If you'd like Justin to answer your question in a future segment of The Professor Is In, leave a comment below.
And don&rsquo;t forget to rate and review!

From world events to everyday decisions, economics explains it all. Platypus Economics makes it clear, useful, and actually fun.

From world events to everyday decisions, economics explains it all. Platypus Economics makes it clear, useful, and actually fun.

Platypus Economics with Justin Wolfers

Justin Wolfers Answers Your Questions on the National Debt | The Professor Is In

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/022e2db0-f1fd-4336-b6fc-b44b00fe2c92/transcript

Justin Wolfers is back with Stacey Vanek Smith to break down three of the biggest stories in economic news. Starting with the arrival of new Fed Chair Kevin Warsh — and the question of which Kevin Warsh will show up for the job: the inflation hawk from the Great Recession, or a more political figure likely to echo President Trump's calls for lower interest rates. Next, Justin and Stacey cover Bond Market 101, with Justin explaining why the U.S. government sells Treasury bonds, why investors buy them, and what rising long-term yields signal about inflation, oil prices, and the national debt.

Finally, they dig into the stunning collapse in consumer sentiment, and why Justin believes these historically bleak numbers reflect something deeper than a bad economy — namely, a crisis of confidence in the people managing U.S. economic policy. At the same time, Stacey points out the affordability crunch is very real, with inflation hitting some summertime staples especially hard.

If you enjoy this episode, please rate and review — and check out the link below to weigh in on Justin and Stacey's bet about midterm gas prices on Manifold Markets!

https://manifold.markets/StaceyVanekSmith/will-national-gas-prices-in-the-us

Justin Wolfers is back with Stacey Vanek Smith to break down three of the biggest stories in economic news. Starting with the arrival of new Fed Chair Kevin Warsh &mdash; and the question of which Kevin Warsh will show up for the job: the inflation hawk from the Great Recession, or a more political figure likely to echo President Trump's calls for lower interest rates. Next, Justin and Stacey cover Bond Market 101, with Justin explaining why the U.S. government sells Treasury bonds, why investors buy them, and what rising long-term yields signal about inflation, oil prices, and the national debt.
Finally, they dig into the stunning collapse in consumer sentiment, and why Justin believes these historically bleak numbers reflect something deeper than a bad economy &mdash; namely, a crisis of confidence in the people managing U.S. economic policy. At the same time, Stacey points out the affordability crunch is very real, with inflation hitting some summertime staples especially hard.
If you enjoy this episode, please rate and review &mdash; and check out the link below to weigh in on Justin and Stacey's bet about midterm gas prices on Manifold Markets!
https://manifold.markets/StaceyVanekSmith/will-national-gas-prices-in-the-us

Is Inflation Going to Ruin the Summer? | Off the Clock

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/fe406faf-431a-4e57-8587-b45300082811/transcript

A new paper and new answers

What makes this paper particularly credible

What the researchers actually measured

When it comes to phone use — the policy bites

Well-being drops first, then rebounds

How social environment do (and don't) change

Attention, attendance, and test scores

What this tells us about our own lives

What happens when students can’t instantly reach for their phones? In this episode of Diving In, Justin Wolfers breaks down the latest research on school phone bans and finds a result that’s more complicated—and more interesting—than many parents, teachers, and policymakers expected.

Here's the broader lesson: removing a distraction does not automatically create a better outcome. In economics, that’s the problem of substitution. If less phone time turns into more sleep, conversation, or focus, that’s good. If it turns into some other kind of distraction or conflict, the gains are smaller.

For parents, teachers, and anyone trying to build healthier tech habits, the stakes are personal. A little friction can change behavior—but what you put in the phone’s place may matter just as much for your family, your kids, and your own mental well-being.

Check out the full paper here: https://siepr.stanford.edu/publications/working-paper/effects-school-phone-bans-national-evidence-lockable-pouches

📈 Key takeaway: Phone bans can reduce use and improve well-being over time, but the real question is what fills the space the phone leaves behind.

🔔 Don't forget to like and review!

What happens when students can&rsquo;t instantly reach for their phones? In this episode of Diving In, Justin Wolfers breaks down the latest research on school phone bans and finds a result that&rsquo;s more complicated&mdash;and more interesting&mdash;than many parents, teachers, and policymakers expected.
Here's the broader lesson: removing a distraction does not automatically create a better outcome. In economics, that&rsquo;s the problem of substitution. If less phone time turns into more sleep, conversation, or focus, that&rsquo;s good. If it turns into some other kind of distraction or conflict, the gains are smaller.
For parents, teachers, and anyone trying to build healthier tech habits, the stakes are personal. A little friction can change behavior&mdash;but what you put in the phone&rsquo;s place may matter just as much for your family, your kids, and your own mental well-being.
Check out the full paper here: <a href="https://siepr.stanford.edu/publications/working-paper/effects-school-phone-bans-national-evidence-lockable-pouches">https://siepr.stanford.edu/publications/working-paper/effects-school-phone-bans-national-evidence-lockable-pouches</a>
📈 Key takeaway: Phone bans can reduce use and improve well-being over time, but the real question is what fills the space the phone leaves behind.
🔔 Don't forget to like and review!

What Really Happens When Schools Lock Away Phones? | Diving In

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/a009b608-b5da-4c3a-a732-b44f0172cb3b/transcript

What the cost of war really includes

Start with oil

The monetary policy estimate

The geopolitical risk estimate

The stock market estimate

The broad macro forecast

The costs may keep growing

Why boring distinctions matter

The Pentagon said the war with Iran has cost Americans $25 billion. But that number only accounts for missiles fired and equipment destroyed. The true cost of war is measured by the future we’ve given up. In this video — my Director’s Cut of an Op-Ed I wrote last week for the New York Times — I explain why that figure is dangerously misleading and show you the math for a less precise, but far more honest answer.

Using the economic concept of opportunity cost, I walk through six methods for calculating the war’s real price tag, tracing the clues through oil, interest rates, geopolitical risk, the stock market, GDP, and future defense budgets. Each of these prove that this war is not costing tens of billions — but hundreds of billions, and quite possibly trillions.

Every number answers a question, and the Pentagon's $25 billion answers a very small one. Here, I'm asking the bigger one: compared to the world we had before this war, what have we lost? The answer should concern every American household.

NYT Op-Ed: https://www.nytimes.com/2026/05/08/opinion/hegseth-war-cost.html

The Pentagon said the war with Iran has cost Americans $25 billion. But that number only accounts for missiles fired and equipment destroyed. The true cost of war is measured by the future we&rsquo;ve given up. In this video &mdash; my Director&rsquo;s Cut of an Op-Ed I wrote last week for the New York Times &mdash; I explain why that figure is dangerously misleading and show you the math for a less precise, but far more honest answer.
Using the economic concept of opportunity cost, I walk through six methods for calculating the war&rsquo;s real price tag, tracing the clues through oil, interest rates, geopolitical risk, the stock market, GDP, and future defense budgets. Each of these prove that this war is not costing tens of billions &mdash; but hundreds of billions, and quite possibly trillions.
Every number answers a question, and the Pentagon's $25 billion answers a very small one. Here, I'm asking the bigger one: compared to the world we had before this war, what have we lost? The answer should concern every American household.
NYT Op-Ed: https://www.nytimes.com/2026/05/08/opinion/hegseth-war-cost.html

How to measure the true cost of war: Justin Wolfers shows you the math | Diving In

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/7ad102d3-3232-4e39-a058-b44900fab4fc/transcript

Justin Wolfers Answers Your Questions on the National Debt | The Professor Is In

In 1 playlist(s)

Platypus Economics with Justin Wolfers

Social links

Follow podcast

Recent clips