Discussion about this post

User's avatar
kdsherpa's avatar
1dEdited

The most important stories are hidden from the American people. How about Dean Blundell's reporting on the current financial situation in the U.S.?

"Interest on the debt has now officially blown past both National Defense and Medicare. Sit with that. Interest Is Now America’s Second-Biggest “Program” The only line item still bigger is Social Security — and the CBO says interest catches that too, eventually.

"The debt is now eating 18.6% of every tax dollar collected. It’s blowing past the post-WWII record as a share of the economy. And it compounds: every old cheap bond that matures gets refinanced at today’s higher rates, which means the interest bill grows even if Washington doesn’t borrow another dime. Which — lol — it will. About $2 trillion worth this year.

"This is why “we can’t afford higher rates” isn’t a talking point. It’s arithmetic. The US government is now the most rate-sensitive borrower on Earth, and its president spends his mornings screaming at the Fed chair on social media to cut. He’s not doing that for your mortgage. He’s doing it because his own budget detonates if rates stay here.

"So Where’s the Money Going? Glad You Asked.

Now, let’s be precise about the anatomy of this disaster, because precision is what makes it damning.

(1) THE BIG WOUND IS SELF-INFLICTED TAX POLICY.

>Trump’s One Big Beautiful Bill is projected to pile roughly $6.9 trillion onto the debt over ten years.

> Corporate tax receipts are already down $94 billion — a 24% collapse — this fiscal year because of the bill’s giveaways.

>And the tariffs that were supposed to pay for it all? After the Supreme Court torched most of them, Treasury spent July refunding $33 billion in tariffs — customs revenue actually ran negative $8.5 billion for the month. The “tariffs will pay off the debt” plan is now literally a line item where America pays money OUT.

(2) THE SECOND WOUND IS THE DEPORATION-INDUSTRIAL COMPLEX. The same bill shoveled $170.7 billion into immigration and border enforcement — more than the annual budget of every state and local police force in America combined. ICE alone got roughly $75 billion on top of its normal ~$10 billion budget, making it the best-funded law enforcement agency in the country, including $45 billion just for detention camps — more than the Obama, Biden, and first Trump administrations spent on detention put together, and five times the budget of the entire federal prison system. And because it was rammed through reconciliation, huge chunks of it — including a $10 billion DHS pot with almost no strings attached that even immigration analysts openly call a slush fund — come with virtually zero congressional oversight. They’re back for more, too: this spring’s follow-up bill sought another $70 billion for ICE and CBP."

And on it goes. To the $40 TRILLION debt the U.S. holds. It's beyond comprehension. And what does the future hold in this pathetically mismanaged financial situation in our nation? Three guesses.

Tom Joad's avatar

You're right, Earl, and I'd go further. Nineteen months in and we're still watching the press debate tone while the country burns down around them. There's no "both sides" left to report on. There's what's happening and there's everybody too scared or too paid to say it plainly. I've spent decades trying to talk this through with neighbors, trying to find the man across the fence, and I'm running out of patience for that too, watching what's being done while we're all still being polite about it. Keep writing it exactly this hot. Somebody has to.

138 more comments...

No posts

Ready for more?