"That's not sustainable, and of course that's everything we're doing now as a government," Johnson said.
He's in the camp that believes a Greece-like monetary collapse is imminent here - thanks to a national government that borrows and prints money to the tune of 43 cents for every dollar spent.
If elected, Johnson promises to submit a balanced budget to congress in 2013 that cuts spending by 43 percent - or $1.4 trillion. Unlike many pundits, he also thinks the public recognizes that spending cuts are necessary too.
"I think we're hungry to elect leadership," Johnson said. "The country's in deep doo-doo. We have to fix it, and it has to be mutual sacrifice on the part of all of us."
That includes our military spending. While Romney has paid lip service to budget cuts, he's campaigning on the promise of adding to the military's budget. Johnson's proposed cuts would take those levels back to what they were in 2003.
"We have an obligation to provide ourselves with a strong national defense," Johnson said. "But the operative word is 'defense' and not 'offense' and 'nation building,' and that's what we're doing."
Johnson's poll numbers are the highest yet for a Libertarian presidential candidate, and that holds true for the party's Indiana candidates too. Chris Spangle, the party's state executive director, said Rupert Boneham, the Libertarian gubernatorial candidate, has managed to raise a record $70,000 for his campaign.
"It's always tough running a third-party race," Spangle said. "You don't have the corporate sponsors like the other two, so it's more difficult to raise money and get attention."
Indeed, Boneham frequently has 20-hour work days on the campaign trail. He says he recently apologized to his wife for creating a scenario in which he doesn't get paid to work so much.