Free Republic

Do Americans care about America’s fast-growing national debt, now above $40 trillion? You bet they do. In the latest I&I/TIPP Poll, an overwhelming majority of the voting-age population say they’re concerned about the mounting liabilities on the nation’s balance sheet, and blame out-of-control spending for the red ink. In the latest national online I&I/TIPP Poll, taken by 1,481 adults from Aug. 25 through Aug. 28, participants were asked: “The nation’s debt is close to $40 trillion. How concerned are you about the size of the U.S. national debt?” The poll has a margin of error of +/-2.9 percentage points. As...

A new poll suggests Medicare for All could benefit Republicans in some of the country's most competitive House races, especially as progressive Democrats increasingly embrace the idea. The survey, conducted by Republican polling firm FabrizioWard on behalf of Seniors Matter for America, found that voters in battleground congressional districts would favor a Republican candidate by a 50 percent to 38 percent margin if the Democratic candidate supported replacing existing health coverage with a government-run system. The poll surveyed 1,000 likely voters across 37 House districts rated Toss Up, Lean Republican, or Lean Democrat by the Cook Political Report between August...

President Donald Trump is promising a $5,000 payment to every adult American citizen if Republicans retain control of both chambers of Congress in November. The proposal could cost roughly $1.2 trillion, require congressional approval and inject a massive new variable into the outlook for inflation, interest rates and federal borrowing. Trump Ties $5,000 Payments to the Midterm ElectionsTrump unveiled what he called the “Trump Dividend” during the Republican Party’s midterm convention in Dallas on Wednesday night.“Here is my promise: if the Republicans win the House of Representatives and the United States Senate, both of them… because of our tremendous strength...

"I could end the deficit in five minutes," he said. "You just pass a law that says that any time there's a deficit of more than three percent of GDP, all sitting members of Congress are ineligible for reelection. Yeah, yeah, now you've got the incentives in the right place, right?"

Thank God, no, we aren't going bust as a nation, despite our gargantuan $40 trillion national debt. The rapid pileup of debt under Republicans and Democrats alike is certainly a disgrace and worrisome. When I came to Washington in the mid-1980s, our debt hit $1 trillion for the first time. It seemed like a tidal wave of red ink. Forty years later, we're at $40 trillion. That's a big and scary number. But our national wealth is roughly $180 trillion. So our debt-to-asset ratio, which has been rising, is still less than 25%, and much lower than at the end...

The federal deficit will be $2.1 trillion when fiscal year 2026 ends on Sept. 30, the Congressional Budget Office projected in its monthly budget review.The deficit - the gap between what the government spends and what it collects from taxes and other revenue - has never surpassed $1.8 trillion, except during the Covid-19 pandemic.Key facts: Federal revenues are up 3% in 2026 compared to last year. Even though corporate income tax revenue has declined, income and payroll tax collections increased.But federal spending is up 5%, according to the CBO. Interest on the national debt increased 14% compared to last year....

British Prime Minister Andy Burnham said he and other European leaders plan to travel to the United States in September to lobby US President Donald Trump to let Ukraine access some of its Patriot air defense missile stocks ahead of the winter, Bloomberg News reported on Monday, citing an interview. "I'm looking forward to going to New York in September," Burnham told Bloomberg. "I’ve not fully confirmed the details yet but it’s likely I will go, particularly after today’s discussion," Bloomberg quoted him as saying. Ukraine independence celebrations marked by world leaders in KyivThe leaders of Britain and France pledged...

"Dana Bash speaks with former Vice President Mike Pence about the wars in Ukraine and Iran, the renewed threat of a trade war between the U.S. and Canada, and his reaction to his former CIA briefer - a trans woman - stating that he treated her with "great dignity." ...

The U.S. national debt has surpassed $40 trillion for the first time, marking a historic milestone in a borrowing buildup that has accumulated over generations, through wars, recessions, tax changes and the expansion of major federal benefit programs under presidents of both parties.The Treasury Department reported that total public debt outstanding reached about $40.047 trillion Tuesday, according to The Wall Street Journal and The New York Times. The number is striking, but the more significant measure for economists is debt held by the public — money the federal government owes to investors and other entities outside the federal government. That...

The world is getting more uptight about lending money to President Donald Trump’s government — causing interest rates to climb in ways that are worsening affordability pressures, hampering economic growth and creating a new risk for Republicans in November’s midterm elections. The energy price spike triggered by the Iran war has seeped into the price of bonds that help fund the U.S. government. Interest rates on a 10-year U.S. Treasury note are topping 4.44%, up from 3.95% before the war started at the end of February. Average mortgage rates have climbed to their highest levels in nine months, while auto...

"The conservatives on here denying the affordability crisis are engaged in what I can only describe as an act of political suicide. They're also lying, which is the worst part. Grocery prices are up. Housing. Energy. Insurance. Health care. Basic living expenses. It's real. It's happening. Denying it just makes you look out of touch, deceitful, and untrustworthy. It's also a completely unnecessary and unforced error. No credible person is claiming that Trump caused these price surges. You don't have to disgrace yourself by denying the reality in front of your face just to prove your loyalty to Trump. The...

House Speaker Mike Johnson (R-LA) was asked during a Capitol Hill press conference on Tuesday at what point he will move to use Congressional power to check President Donald Trump’s war in Iran. Johnson pointedly ended his reply by saying “we’ve got to wrap it up” in Iran, which many pundits and political insiders have warned is an additional threat to the GOP keeping its majorities in Congress. Johnson’s answer appeared to be at odds with Trump, who vowed earlier in the day to continue bombing Iran until they come to the negotiating table in good faith. “You repeatedly said...

Last month we highlighted Social Security’s cumulative effect on federal deficits in the next ten years. That often surprises people who think Social Security is “paid for” through payroll taxes.What will surprise them even more: the much larger Medicare effect on federal deficits over the next decade.You might ask yourself: don’t people pay for Medicare with payroll taxes when they work or with monthly premiums when they retire?They do. And payroll taxes do cover almost all of Part A’s expenditures. But it is written into law that three-quarters of Parts B and D are explicitly subsidized by taxpayers. The Medicare...

HUNT VALLEY, Md. (TNND) — Senate Democrats, seething over the Trump administration’s revived war with Iran, blocked a traditionally bipartisan defense funding bill on Tuesday. The Defense Department is seeking more than $1 trillion through a broad package that includes program funding, pay raises and policy directives as the ceasefire with Tehran ends. The administration’s hopes for the historically high request were suppressed on Capitol Hill, where a mostly party-line vote delayed passage of the National Defense Authorization Act, which usually succeeds with ease. Forty-five Democrats voted against the legislation, preventing Republicans from overcoming the 60-vote barrier set for most...

Ninety-five per cent of Americans believe the US is suffering an affordability crisis, as many report trouble with the rising cost of groceries and gas, according to a survey, conducted by Harris Poll. Despite stable employment and record-high stock markets, more Americans believe the overall economy is getting worse (57%) than in February (46%), when the poll was last conducted and before the war in the Middle East sent gas prices soaring. Fewer people today also believe the economy is getting better (16%, compared with 28% in February) and more say their financial security has gotten worse. Even rural Americans,...

The Federal Budget Deficits are large by historical standards. The deficit totals $1.9 trillion in fiscal year 2026 and grows to $3.1 trillion in 2036. Relative to the size of the economy, the deficit is 5.8 percent of gross domestic product (GDP) in 2026 and increases to 6.7 percent in 2036. Deficits averaged 3.8 percent of GDP over the last 50 years (see Chapter 1). Debt held by the public rises from 101 percent of GDP in 2026 to 120 percent in 2036, well above the previous record of 106 percent just after World War II. Outlays are large by...

Initiative allows newborns to be enrolled in new and streamlined processes Baltimore, MD – Today, the Social Security Administration (SSA) announced it is launching processes for parents to enroll newborns in Trump Accounts. This automatic system will help ensure that every newborn has the opportunity to benefit from a Trump Account from the start of life. One year ago, on July 4, 2025, President Donald J. Trump signed into law the Working Families Tax Cuts, which created Trump Accounts, a new type of individual retirement account for eligible minors under the age of 18. "Trump Accounts represent one of the...

The White House on Wednesday officially asked Congress for $87.6 billion in supplemental funding to pay for the Iran war, curtail the ongoing Ebola outbreak and provide aid to U.S. farmers, among other requests, according to a copy obtained by The Hill. In a letter to House Speaker Mike Johnson (R-La.), White House Office of Management and Budget Director Russell Vought asked for $67 billion for the Defense Department, down from an expected $200 billion first floated by Defense Secretary Pete Hegseth in March. But even with a smaller price tag, the bill will need some support from Democrats to...

The Trump administration on Wednesday sent Congress a long-awaited supplemental funding package to help cover the cost of the Iran war. The administration is asking for about $87.6 billion to address "urgent needs" related to the Iran war, as well as other funding to respond to the Ebola outbreak in Central Africa and provide support for American farmers. The request will face an uphill battle and puts vulnerable Republicans in a politically tricky position, since backing it could be seen as support for the unpopular war. It's all but certain to face stiff opposition from Democrats, putting its passage in...

"There is not one nation that came to us and said, 'Please, sir, keep dropping bombs on them [Iran]'; the stupid people say that," President Trump declared last week at the G7 meeting before signing an MOU with the Islamic Republic. "Don't forget, if we were going to drop bombs, let's say we went another month, another two, three months, maybe weeks, it could be another three months. Could be whatever. What do you have left? Maybe nothing... If we keep bombing... you're talking about $500M, $600M, $700M a day. It's a lot of money." Snapshot: This kind of rhetoric...