Topic of Discussion: The Big Fat $40 Trillion Question
On 18 August, US debt crossed $40 trillion and the debt-GDP ratio is now 125.8%.. Note that the US took 192 years to accumulate the first trillion dollars of debt, while the most recent trillion took just 5 months. In May 2024, the Budget Committee of the House of Representatives noted that interest payments have crossed spending on defense and Medicare. This figure is rising faster now. In a nutshell, American debt and interest payments are increasing at a record pace at a time when tariffs and conflicts are decreasing economic growth. We look forward to discussing this issue with you in earnest.
We also want to share Fair Observer’s Second Quarter Update so that you know what has been keeping us busy. Roberta Campani and Cheyenne Torres deserve a lot of credit for this update and send their greetings from Switzerland and California respectively. You can find earlier updates here in case you are curious.
For more than 10 years, Fair Observer has been free, fair and independent. No billionaire owns us, no advertisers control us. We are a reader-supported nonprofit. Unlike many other publications, we keep our content free for readers regardless of where they live or whether they can afford to pay. We have no paywalls and no ads.
In the post-truth era of fake news, echo chambers and filter bubbles, we publish a plurality of perspectives from around the world. Anyone can publish with us, but everyone goes through a rigorous editorial process. So, you get fact-checked, well-reasoned content instead of noise.
We publish 3,000+ voices from 90+ countries. We also conduct education and training programs on
subjects ranging from digital media and journalism to writing and critical thinking. This
doesn’t come cheap. Servers, editors, trainers and web developers cost money.
Please
consider supporting us on a regular basis as a recurring donor or a sustaining
member.
Support Fair Observer
We rely on your support for our independence, diversity and quality.
Will you support FO’s journalism?
We rely on your support for our independence, diversity and quality.
