30 Trillion Dollars in 30 Years
When you spend 30 trillion dollars that you do not have, it is easy to create an illusion of prosperity. In 1995, the nation was obsessed with the O.J. Simpson trial, “Toy Story” was the biggest movie of the year, the Sony Playstation made its debut in the United States, and Bill Clinton was in the White House. At that time, the U.S. national debt was right on the verge of crossing the 5 trillion dollar mark. Today, the U.S. national debt is sitting at 36.2 trillion dollars. That means that we have added more than 30 trillion dollars to the national debt in just 30 years.
So what did we get for 30 trillion dollars?
We got the greatest party in the history of the world.
Over the past three decades, we have been enjoying an obscenely inflated standard of living that we did not deserve.
When the government spends money, it provides a short-term boost to the economy. Those that get their hands on the money that the government spends end up using it to go shopping, repair their vehicles, eat at restaurants, etc.
If we could go back and pull 30 trillion dollars of extra government spending over the last 30 years out of the economy, we would be in a rip-roaring depression right now.
So for those of you that wish to avoid economic pain at all costs, you should thank our Congress critters for spending money like drunken sailors all these years.
But in the process, our leaders have destroyed America’s future.
We are broke, and we are absolutely drowning in debt.
The only way that we can meet our obligations is to go into ever larger amounts of debt.
Unfortunately, that cycle can only go on for so long before we reach a point where nobody wants to lend us money anymore.
If you have been paying attention to the bond market, you already know that there have been all sorts of red flags in 2025.
The clock is ticking. But instead of getting our spending under control, Congress seems determined to ramp our spending up to a much higher level…
The package of tax-and-spending measures sent to the Senate, now officially called the One Big Beautiful Bill Act, could act like budgetary wolf bait. It would add around $3 trillion to debt levels over the next decade compared with existing estimates and $5 trillion if certain temporary features were made permanent, according to the nonpartisan Committee for a Responsible Federal Budget.
For perspective, federal interest this fiscal year already
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LewRockwell.com is a libertarian website that publishes articles, essays, and blog posts advocating for minimal government, free markets, and individual liberty. The site was founded by Lew Rockwell, an American libertarian political commentator, activist, and former congressional staffer. The website often features content that is critical of mainstream politics, state intervention, and foreign policy, among other topics. It is a platform frequently used to disseminate Austrian economics, a school of economic thought that is popular among some libertarians.
