America is heading for a debtpocalypse
The article discusses the growing concern over America's national debt and the political dynamics surrounding it. The author reflects on their shifting perspective from relative calm to alarm as deficit spending continues under both Democratic and Republican administrations. They argue that bipartisan fear of deficits could motivate action to avert a potential debt crisis.
- ▪The author initially downplayed concerns about U.S. government debt during Biden's presidency but grew increasingly worried by 2023.
- ▪Under Trump, the author's concerns intensified due to rising long-term interest rates and continued deficit spending.
- ▪The article suggests that raising alarm about the national debt could push both political parties towards fiscal responsibility.
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America is heading for a debtpocalypseBut if we act now, we can avert disaster.Noah SmithMay 23, 2026∙ Paid332SharePhoto by Alice Pasqual on UnsplashThere is a pernicious and persistent pattern among many partisan pundits and politicians, pertaining to public debt. When their own party is in power, they minimize or ignore the problem, but as soon as the other guys win the presidency, they start shouting that the debtpocalypse is upon us. Do I follow this pattern? Maybe a little bit. As recently as 2022, in Biden’s second year as President, I was not very worried about U.S. government debt.
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