On Sunday, former President Trump announced a plan to distribute at least $2,000 to every American, excluding high-income individuals, using funds generated from tariff revenue. This proposal, likely requiring Congressional approval, mirrors a similar bill introduced by Senator Josh Hawley earlier this year for $600 rebates. However, the Treasury Department has previously indicated a priority of using tariff revenue to reduce the national debt, which currently stands at $38.12 trillion. Despite the conflicting goals, tariff duties collected through the first three quarters of the year reached $195 billion, although consumers currently face an effective tariff rate of 18%, the highest since 1934.
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Responding to questions about a court ruling concerning the Supplemental Nutrition Assistance Program, Trump emphasized the need for national “liquidity” to address potential crises, seemingly indicating his administration’s reluctance to fully fund the program. This stance appears to be a veiled criticism of “tax and spend” policies, attempting to deflect from the fact that his administration is defying court rulings. The national debt has been increasing at an alarming rate, especially with the current government shutdown costing the country billions weekly, despite Trump’s claim about spending. Trump’s claims are ironic since his presidency has also had a high cost to the country.
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The U.S. national debt has reached a record $38 trillion, the fastest accumulation of a trillion dollars outside of the COVID-19 pandemic. Experts warn this accelerating debt leads to higher inflation, impacting Americans’ purchasing power and increasing borrowing costs. This surge in debt, compounded by rising interest costs, is a concerning sign that lawmakers are not addressing their fiscal responsibilities. The Joint Economic Committee estimates that the total national debt has grown by $69,713.82 per second for the past year.
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The U.S. national debt has surged past $38 trillion, reaching a record high that underscores the rapid accumulation of debt, marking the fastest trillion-dollar increase outside of the COVID-19 pandemic. This growing debt could lead to higher inflation, eroding Americans’ purchasing power and impacting future generations’ ability to achieve financial goals like home ownership. Experts warn that increased debt results in higher borrowing costs and potentially reduced wages, as government spending continues to grow. Amidst these concerns, the Trump administration emphasizes its efforts to slow spending and reduce the deficit.
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Tariffs Are Way Up. Interest on Debt Tops $1 Trillion. And DOGE Didn’t Do Much.
Well, this is quite a picture we’re looking at, isn’t it? We’ve got tariffs on the rise, the interest we’re paying on our national debt is breaking the $1 trillion mark, and, according to some, DOGE – presumably referring to something implemented or influenced by a particular political group – didn’t exactly deliver as promised. Honestly, it feels like we’re sifting through a tangled web of cause and effect, where the consequences of certain actions are only now starting to fully manifest. The whole situation is unsettling.… Continue reading
According to J.P. Morgan Asset Management’s David Kelly, the U.S. government faces long-term financial challenges due to a growing national debt, currently exceeding $37.8 trillion. While the government is “going broke slowly,” the debt-to-GDP ratio is projected to increase, potentially impacting long-term interest rates and the dollar. Despite some optimism due to factors like tariff revenues, risks such as potential court challenges to tariffs and the possibility of a recession could accelerate debt accumulation. Therefore, investors should consider diversifying their portfolios to mitigate the risk of a faster deterioration in the federal finances.
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The Committee for a Responsible Federal Budget (CRFB) has criticized the recent government shutdown and revealed a $1.8 trillion federal deficit for the fiscal year 2025. CRFB President Maya MacGuineas expressed concern, noting that the national debt is unsustainable and recommending extending spending caps and enforcing fiscal rules. Furthermore, the CRFB highlighted the urgent need to address the insolvency of Medicare and Social Security, and proposed establishing a fiscal commission to reduce deficits. The analysis emphasizes the need for bipartisan cooperation to enact sustainable fiscal policies, as echoed by financial figures such as Ray Dalio, who cautions against relying on debt-fueled growth.
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The U.S. national debt has exceeded $37 trillion, a concerning milestone highlighting escalating debt and rising costs for taxpayers. This figure arrived years earlier than pre-pandemic projections, accelerated by government borrowing during the COVID-19 pandemic and subsequent spending legislation. Experts warn that increased borrowing pressures interest rates, reduces private sector investment, and can lead to higher costs for consumers and businesses. Furthermore, the speed at which the debt is growing is alarming, with another trillion dollars expected to be added in approximately 173 days, underscoring the urgency for policymakers to address the issue.
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CBO: Republican megabill to cost $4.1T, due to higher borrowing costs. That’s a hefty price tag, isn’t it? The Congressional Budget Office, or CBO, has crunched the numbers on a Republican megabill, and the projected cost is a staggering $4.1 trillion. And the main culprit? Increased borrowing costs. It seems like the measure’s financial impact is going to be felt across the board.
The measure is also expected to add trillions to the federal deficit. This is where things get really concerning. Not only is this bill going to cost a fortune, but it’s also predicted to significantly increase the federal deficit.… Continue reading
GOP megabill’s final score: $3.4T in red ink and 10 million kicked off health insurance, CBO says, it’s a tough pill to swallow, isn’t it? The numbers tell a stark story: a massive increase in the national debt, and millions losing their healthcare coverage. It’s a punch to the gut for anyone who believes in fiscal responsibility and the well-being of all citizens.
The fiscal consequences are staggering. A $3.4 trillion increase in the deficit. Think about that for a moment. All the talk of cutting spending, of tightening the belt, and it ends with a mountain of debt that future generations will have to grapple with.… Continue reading
John Q. Hosedrinker 
Matt Underwood