Posted at Hartmann Report on Feb. 24, 2026
The National Debt Is the Evidence of the Crime: Who Pocketed the $38 Trillion?
The national debt isn't the cause of our problems: it's the receipt. It's the paper trail of the largest upward transfer of wealth in 250 years of American history…
Tonight is the State of the Union speech. If it follows the routine of previous GOP presidencies, Trump will use our national debt as an excuse to call for more tax breaks for billionaires along with drastic cuts to social spending, just like Reagan, Bush, and Bush did.
"The national debt is the United States' next great war," Jodey Arrington, the top Republican on the House Budget Committee, thundered this month about our $38 trillion national debt and $1 trillion annual interest payments on that debt.
If we're going to use his war analogy to describe this very real crisis, the first shots were fired in 1981, when Republicans' so-called supply-side tax cuts began a forty-five-year upward transfer of over $50 trillion in wealth that made billionaires fabulously rich while it hollowed out our nation's Treasury. They stole $38 trillion from our government, and another $12 trillion (at least) from working class families via wage freezes and the destruction of unions.
