America’s most boring nightmare

Washington Post ^ | 7/7/26 | Megan McArdle

[EnderWiggin1970]

Ever gotten so deep in credit card debt that you stopped opening the bills because it felt hopeless and looking at the numbers simply stressed you out? If not, I congratulate you on your thrift and prudence. But a lot of people have reached that point, as you will discover if you spend much time on personal finance forums.

If you are someone who pays off your credit card every month, it can be hard to understand why anyone would just stop opening their bills. Sure, it is hard to contemplate your financial problems. But contemplation, however unpleasant, is not what is most stressful about being deep in debt. The really stressful part is when your creditors cut off your lines of credit, foreclose on your house, or force you into bankruptcy. The only way to avoid that crisis is to confront the problem head-on.

So why don’t they? Rather than offering pop psychology, I have a question for you: When was the last time you devoted serious attention to the national debt?

Many readers will click away at this point, if they haven’t already checked out at the headline. The national debt is so big and so incredibly boring! At best, reading about the debt feels like eating some highly nutritious vegetable you don’t care for. At worst, it feels overwhelming. What can you do about it, anyway? All it does is make you depressed.

You see where I’m going with this. The nation is in a hole, and if it’s going to climb out, Americans need to take a hard look at the bill that is rapidly coming due, rather than stuff the notices in a drawer and try to forget they’re there.

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TOPICS: Business/Economy; Constitution/Conservatism; Editorial; Government
KEYWORDS: budget; debt; deficit; inflation; liberalism; meganmcardle; washingtoncompost

[EnderWiggin1970]

Last paragraph: "But this cannot go on forever, and as the great economist Herbert Stein once said, “If something cannot go on forever, it will stop.” The only choice the nation has is how it will stop — a gradual tapping of the fiscal brakes, until things are back under control, or a continued acceleration until a devastating crash becomes inevitable. But if we want politicians to take that first option, we voters must focus our attention and force them to confront the problem before us."

[Repeal The 17th]

Medical bills are on the verge of me and Mrs R17
having to sell our home and move
to where, we do not know...

[algore]

there is indeed something wicked coming this way.

I am just not sure when we will be forced to stop “rearranging the deck chairs on the Titanic”

[dadfly]

the Visigoths are at the gate and raiding the treasury.

the problem is, the Visigoths are us.

[Drago]

Budget cuts to balance the budget (or even a surplus) are pretty much impossible now...total “discretionary spending” (including all of the military budget) is about equal to the current annual budget deficit. The “plan” is to inflate the national debt down in value...current annual inflation rates are 4.2%-10% depending on who you ask, and the national debt is increasing at about a 1% rate per year...the government/politicians are playing the long game to the detriment of your saving account/budget.

https://www.cbo.gov/publication/61950

https://www.cbo.gov/publication/61952

https://www.visualcapitalist.com/purchasing-power-of-the-u-s-dollar-over-time/

https://fiscaldata.treasury.gov/americas-finance-guide/federal-spending/#spending-categories

[EnderWiggin1970]

Right, inflation is a blessing to those in debt (such as overspenders living irresponsibly), and a curse to those with savings (such as those living within their means in a responsible manner). Government, with its enormous debt, is the great beneficiary of inflation, and anyone living off their savings without a current income is the most afflicted by inflation. But it’s the “easy” way out for politicians, who can deflect and pretend ignorance when this is brought up.

[howlinhound]

As one with a wife totally disabled and bedridden by MS, I can totally empathize with you, since medical costs are sending us in the same direction; we had to short-sell our house.

BUT, of course, there is the illegal migrant who just stumbled over the border who needs funds to transition into a “woman” plus his cousin who needs a heart transplant, and the 101 other migrants who came with them who need to be put up in luxury high-rise hotels that we must pay for. So what if we have paid into the “system” for decades..

[Drago]

Yep, inflation, AKA the “unseen tax”. (And we haven’t even mentioned “Shrinkflation” which I have noticed in a big way).

https://scrivener.pro/2026/06/14/inflation-is-a-tax-they-just-dont-call-it-that/

[lastchance]

Don’t sell your home. I assume your bills are what remains after your insurance paid. First do not make yourself homeless to pay what remains. I guarantee the insurance was overcharged. You do have rights when it comes to debt collectors.

First ask for full statements. Review them for errors.
If you were in hospital there will be separate bills for the physicians. Make sure there are not duplicates.
Talk directly with the financial office where you were treated. Not to the company that sent out the bill.
Ask them what the lowest monthly amount they will take.
If you are able ask them what cash settlement would they accept if you could make that payment in 30 days or 60 days.
You might have to talk to your bank about a loan.
NOW HERE IS THE IMPORTANT PART. If they refuse to be reasonable go and see a bankruptcy attorney. Do whatever you need to do to keep your house and not get driven into poverty.

[DeplorablePaul]

Excellent advise. I would just add that if the debtor is overwhelmed with the prospect of negotiating with bill collectors there are businesses that negotiate settlements for a fee.

I have complete sympathy for people burdened with medical bills. Hospital billing is the worse. One time I had to camp out in a hospital lobby to get a complete bill for insurance claim purposes. Even after that and another bill came in over a year later. I told them to pound sand.

[Az Joe]

God be with and watch over you both friend

[Az Joe]

Sorry you are going through this. Hang in and hang on.

[Merrick]

Prayers up.