Civilization. The last page. (268)
There’s pain coming.
America is a rich country, at least it was till the national credit card was maxed out. The USDebtClock.org is telling us that as of July 20, 2026:
- The nations debt today is $39.5 trillion. The current budget year deficit which ends September 30, 2026 will add $.470 trillion more.
- The debt by the end of FY 2028 will be $44 trillion.
- The ratio of the debt to GDP will be 137.1%
With the knowledge that our annual deficit is $2 trillion with no foreseeable reductions for 3 more fiscal years till the end of the current Republican administration, we will add at least $10 trillion more to the debt for a total of $50.4 trillion by 2030. Our interest expense will be over $2 trillion a year.
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We are experiencing ever increasing numbers of destructive weather events. While these are not only to federal assets, the states will suffer losses as well, and their residents and businesses will apply for federal disaster loans. The economic impact of the destruction of, say, the Texas deep harbor port complex in the Gulf of Mexico, or the California harbors at Los Angeles/Long Beach, or the New York harbor. Without the borrowing capacity of the United States, the interest rates would exceed the viability of the states of Texas, California or N.Y. to restore these vital facilities.
Three prongs of a financial trident must be utilized to restore the viability of the U.S.:
- A reduction of government benefits to individuals and businesses of at least a trillion dollars per year.
- An increase of federal tax rates to increase annual revenue by at least a trillion dollars.
- A resumption of IRS tax audits of high earners and corporations.
We must recognize the value of doing business in America. Great wealth is created by businesses and their owners from anticipated future income. The owner of a prime location on Rodeo Drive in Beverly Hills, can charge a premium, so can our country with 365 million consumers in a unified market.
Tax it.
Have a nice day
