September 3, 2020

The National Debt Virus

Relief for the government-mandated COVID shutdown is only a small part of the story.

Once upon a time, it appeared that the American people were beginning to wake up to the threat of the national debt. But now the heady days of the Tea Party seem like a distant memory.

When George W. Bush took office, the total national debt stood at a now-quaint $5.8 trillion. He (and the Republican Congress) doubled it. When Barack Obama took office, the debt was $11.6 trillion. He too nearly doubled it. When Donald Trump became president, the debt stood just shy of $20 trillion. Not yet to the end of his first term, we’re fast approaching $27 trillion.

Just read those numbers again.

And maybe sit down for these.

The Congressional Budget Office reported Wednesday that the annual deficit for fiscal year 2020 is $3.3 trillion, or 16% of total Gross Domestic Product. According to the CBO, publicly held federal debt will reach 98% of GDP this year and it will surpass 100% of GDP in 2021. For perspective, it was 35% of GDP in 2007. The double whammy? “CBO’s public debt estimates don’t include entitlements like Social Security and Medicare, which are political promises rather than binding contracts,” says the Wall Street Journal editorial board. “They also exclude the liabilities of Fannie Mae and Freddie Mac, the housing giants guaranteed by taxpayers.”

Furthermore, the CBO doesn’t project anything for the budget busters on the Democrats’ agenda if they take control of Washington.

How are Capitol Hill’s two parties debating the debt crisis? They’re bickering over whether to spend another $3 trillion, as the House Democrats’ bill does, or rein that back in to “only” $1 trillion, as Senate Republicans and the White House counter.

The difference between 2010 and 2020 couldn’t be more stark. When Democrats controlled both ends of Pennsylvania Avenue back then, many Americans suddenly cared so much about our spiraling debt that they marched — actually peacefully — in protest against such reckless spending. In fact, Republicans regained the House in 2010 by promising to put the brakes on the outrageous $1.4 trillion deficit.

In 2020, as governments at every level shut down the economy and as radical leftists have taken to the streets to burn down what’s left of it, the two parties are squabbling only about how much more to spend.

And most Americans couldn’t care less.

Donald Trump wasn’t elected to reduce spending. In fact, he won on promises to increase major line items (like defense) and to stop any restraint on the main drivers of our debt — Social Security and Medicare, which the Boomers who are now retiring by the millions (understandably) want to preserve. CBO now says the Social Security “trust fund” will run out by 2031.

Until all the warnings about debt actually turn into a tangible catastrophe, most voters will continue not caring. And politicians will continue kicking the can down the road, pitching even more spending in exchange for votes.

In one sense, this deficit bug is only a symptom of the real virus. Today’s federal government bears almost no resemblance to the one established by our Founders in the Constitution. As that document’s author, James Madison, warned in 1792, “If Congress can do whatever in their discretion can be done by money, and will promote the General Welfare, the Government is no longer a limited one, possessing enumerated powers, but an indefinite one.” We now have an indefinite government in Washington that is bound not by the Constitution or even a dollar amount but only by whatever can get a majority vote.

Who We Are

The Patriot Post is a highly acclaimed weekday digest of news analysis, policy and opinion written from the heartland — as opposed to the MSM’s ubiquitous Beltway echo chambers — for grassroots leaders nationwide. More

What We Offer

On the Web

We provide solid conservative perspective on the most important issues, including analysis, opinion columns, headline summaries, memes, cartoons and much more.

Via Email

Choose our full-length Digest or our quick-reading Snapshot for a summary of important news. We also offer Cartoons & Memes on Monday and Alexander’s column on Wednesday.

Our Mission

The Patriot Post is steadfast in our mission to extend the endowment of Liberty to the next generation by advocating for individual rights and responsibilities, supporting the restoration of constitutional limits on government and the judiciary, and promoting free enterprise, national defense and traditional American values. We are a rock-solid conservative touchstone for the expanding ranks of grassroots Americans Patriots from all walks of life. Our mission and operation budgets are not financed by any political or special interest groups, and to protect our editorial integrity, we accept no advertising. We are sustained solely by you. Please support The Patriot Fund today!


The Patriot Post and Patriot Foundation Trust, in keeping with our Military Mission of Service to our uniformed service members and veterans, are proud to support and promote the National Medal of Honor Heritage Center, the Congressional Medal of Honor Society, both the Honoring the Sacrifice and Warrior Freedom Service Dogs aiding wounded veterans, the National Veterans Entrepreneurship Program, the Folds of Honor outreach, and Officer Christian Fellowship, the Air University Foundation, and Naval War College Foundation, and the Naval Aviation Museum Foundation. "Greater love has no one than this, to lay down one's life for his friends." (John 15:13)

★ PUBLIUS ★

“Our cause is noble; it is the cause of mankind!” —George Washington

Please join us in prayer for our nation — that righteous leaders would rise and prevail and we would be united as Americans. Pray also for the protection of our Military Patriots, Veterans, First Responders, and their families. Please lift up your Patriot team and our mission to support and defend our Republic's Founding Principle of Liberty, that the fires of freedom would be ignited in the hearts and minds of our countrymen.

The Patriot Post is protected speech, as enumerated in the First Amendment and enforced by the Second Amendment of the Constitution of the United States of America, in accordance with the endowed and unalienable Rights of All Mankind.

Copyright © 2024 The Patriot Post. All Rights Reserved.

The Patriot Post does not support Internet Explorer. We recommend installing the latest version of Microsoft Edge, Mozilla Firefox, or Google Chrome.