Those individuals, or companies for that matter, that aren’t able to conduct their affairs without sustaining a loss, each and every year, are in constant danger of becoming bankrupt, especially when the entity lending the money no longer believes that the risk is commensurate with the perceived reward. Somehow in America, it has gone terribly wrong, for American governance has not been able to put forth a fiscally responsible budget in twenty-five years and doesn’t seem on track to ever do so again.
There is a price to be paid for borrowing money, whether by an individual, a company, or a government, and that price is not just the nation's creditworthiness, but also the cost of borrowing to sustain itself. In America, we find that, as reported at pgpf.org, for FY26 the American government is on track to have a deficit of $931 billion for its interest expense, which signifies that this nation spends nearly the same amount on Medicare as it does on its interest obligations.
Somehow, it seems like those who determine this nation’s budget as well as its tax policies seem to have devolved into believing that we can always have our cake and eat it too, which is why we have the fiscal problems that we currently have, because this nation will not correct its budget to reflect more fiscal responsibility, and simultaneously will not tax the people to meet the demands that it has to meet to thereby be responsible not just to the present generation, but also to those generations, yet unborn.
To believe, somehow, that this nation can continue to run such high fiscal deficits, ad nauseam, is to believe in absolute foolishness, for surely there will be a reckoning, and to not recognize that such a reckoning could bring everything about America and what it stands for to its knees, or even worse, is not to understand that fiscal irresponsibility writ large will create fundamental changes to this nation, and will be extremely unfortunate for all those that must bear that burden.
Here we are at present, running massive deficits, for two main reasons: one being that there is a tremendous amount of money earmarked for national defense, which isn’t even necessary, and when we look at every other nation in the world, it reflects that the United States sees gremlins and hobgoblins in seemingly every other foreign nation, and thus keeps spending ever more on its defense against these phantoms. Additionally, in a nation in which there is a multitude of super-rich people and super-rich corporations, this nation doesn’t have the resolve to tax those entities appropriately, even though these super-rich entities could easily pay what they fairly owe as their duty to that government that thus provided them with the opportunity to become super-rich.
In sum, we should remember this well: monies spent for the national interest on our debt benefits no one, because it does not provide any good or service, but truly reflects that this nation must continually pay the piper at a price that is ever increasing, without seeming to realize that there will come a time when the piper no longer desires to play his instrument at any price for this nation anymore