In September, 2026, U.S. President
Trump announced his intent to have the U.S. Government send $5000 to every American,
which would cost that government about a trillion dollars, in the event that
Trump’s Republican group retains control of the U.S. House and U.S. Senate in
2027 after the upcoming “midterm” election. The attempt to sway the electorates
to vote for Republican federal representatives and senators paid no heed to the
$40.2 trillion debt of the U.S. Government. Even characterizing the proposed
payments as “dividends” ignored the fact that the money would have to be paid
for, either by federal taxes, tariffs, or issuing more Treasury bonds (i.e., federal
debt). It was not as if the payments would go out from money that the
government already had. Such electioneering so misaligned from prudent fiscal
policy amid such a high public debt raises the question of whether a government
“of the People” can govern responsibly rather than merely in line with instant
gratification.
The full essay is at "Misalignment of U.S. Fiscal Policy and the Federal Debt."
