The State of Trump Economics in 2026 with Larry Kotlikoff (E20) | Treussard Talks

Video Description

In this conversation, Larry Kotlikoff (https://kotlikoff.net/)—Professor of Economics at Boston University, Research Associate at the NBER, and former Senior Economist on Reagan's Council of Economic Advisors—and I go through the current administration's economic agenda one proposal at a time. Not from a partisan lens. From first principles. What follows is rigorous and at times surprising. You'll hear us cover: - Why Kotlikoff sees genuine merit in capping credit card interest rates—and what it reveals about the tension between capital and consumer in American finance - The 401(k) proposal to fund home purchases: what it misunderstands about saving, housing supply, and the purpose of retirement accounts - Tariffs and the capital account: why the trade deficit is a symptom, not the disease—and why tariffs almost certainly can't fix what's actually broken - The fiscal reckoning hiding in plain sight: why raising every federal and state tax by 25% today still might not be enough—and why the US is in worse long-term fiscal shape than Italy - Immigration and demography: US population growth fell by half in 2025. What that means for labor, capital, and the long-term American economic project - The Fed, Volcker, and the power of expectations: how a press conference moved interest rates 15 points before a single policy action was taken - Geopolitical realignment as economic policy: why the current international moment may be the most consequential—and least understood—economic story of our time Why this matters now: Every proposal in this conversation connects back to the same underlying tension—a fiscal system that has been quietly redistributing from young to old for 70 years, suppressing saving, distorting incentives, and mortgaging the future. The individual headlines are symptoms. Kotlikoff keeps bringing us back to the diagnosis. And understanding your wealth requires understanding the world your wealth lives in. This is that conversation. --- Disclaimer: The content of "Treussard Talks" is for informational and educational purposes only and should not be considered financial advice. The views expressed are those of the host and guests and do not necessarily reflect the opinions of Treussard Capital Management or its affiliates. Listeners should consult with their own financial advisor before making any investment decisions. For full disclosures, visit treussard.com. **Stay Connected** - Newsletter — Wealth, Empowered: Subscribe at https://wealth-empowered.beehiiv.com/ - Learn more: treussard.com *This podcast is for entertainment and education only. Nothing here is financial advice. Treussard Capital Management is a registered investment advisor. Please visit our website http://www.treussard.com/ for additional information and disclaimers.*