Source: CounterPunch
by Dean Baker
“The $40 trillion debt point naturally prompted much griping among pundits, many of whom see their job as promoting hysteria in order to justify cuts to Social Security, Medicare, and other popular social programs. As is clear to anyone not on the payroll of the rich and very rich [or, you know, familiar with basic economics – TLK], the debt is overwhelmingly the result of tax cuts, mostly to high earners, put in place by Presidents Reagan, Bush II, and Trump. Unfortunately, confusion on the debt can spread even among the sane.” (09/02/26)
https://www.counterpunch.org/2026/09/02/why-the-40-trillion-debt-isnt-the-real-threat/