Kerby Anderson
Chuck Bentley is the CEO of Crown Financial and the host of the daily radio broadcast, My MoneyLife. He was on my radio program last week to talk about this question he received from a listener: “I am really concerned with what Elon Musk said about America heading toward bankruptcy. Do you think there is anything we need to do if he turns out to be correct?”
Elon Musk has said this on a recent All-In Summit hosted by the All-In Podcast: “America is going bankrupt extremely quickly, and everyone seems to be sort of whistling past the graveyard on this one.”
Chuck Bentley attributes much of the problem to the promotion and popularity of what is called “modern monetary theory.” The economists and politicians believe our currency is like Monopoly Money. They argue that we can ignore deficits and ignore the growing national debt since the government will always be able to print enough money to pay its debts. But he warns we are headed for a downward debt loop.
During the program, I explained that we aren’t the only people concerned about this. Chuck Bentley quotes from an article by Les Rubin who admitted: “The government CAN pay their loans due to their unlimited ability to borrow—for now—or print more money, as long as other countries and investors will continue to buy our bonds.” But in the article, he then warned that it will eventually stop and “we will have to default, leading to severe consequences.”
Both Chuck Bentley and I concluded that if Elon Musk and the proposed Government Efficiency Commission cannot reduce spending, then the economic future for this country isn’t very bright.

Kerby Anderson
Now that the 2024 election is in the rearview mirror, there are some steps we need to take to improve our future elections. Much of this needed to be done four years ago, but anytime you talked about improving our electoral process, you were usually accused of trying to change the election. Now that this election was more decisive, it provides an opportunity to make some needed changes.
That’s why I invited Hans von Spakovsky to come on my radio program. He was a member of the Federal Election Commission, is the senior legal fellow at the Heritage Foundation’s Center for Legal and Judicial Studies and is the manager of the think tank’s Election Law Reform Initiative.
When he is asked about the state of election integrity, he responds that we are in better shape nationally than we were last time, but much depends on what state you live in and vote in. Sadly, he also pointed out there is also a problem with state attorneys general and secretaries of state who are unwilling to enforce good state election laws.
On my program, he talked about the fact that he often is tasked with briefing European election observers. They are shocked and astounded to find out that two states with some of the nation’s largest populations do NOT require ID to vote.
Every state has work to do. He has put together an “Election Integrity Scorecard” that analyzed all 50 states and the District of Columbia. It provided an assessment of laws, regulations, and administrative practices of each state. He reported that no state scored 100 when he launched the Scorecard, and that is still the case.
Our goal for elections in this country should be “to make it easy to vote and hard to cheat.” Before the next important election, let’s get to work.