Hello everybody and thank you for tuning into the weekly report.

America reaches a sad milestone.

Last week, the national debt reached 35 trillion dollars a mere seven months after the debt reached $34 trillion.

To put this in perspective, the national debt first reached $1 trillion in October 1981, almost 200 years after the Constitution's

ratification.

The fact that the government was adding $1 trillion in debt in little over half a year

was not deemed worthy of comment by President Biden, Vice President Harris,

and most other U.S. politicians.

This is not surprising since the national debt has not been a central issue in D.C.

since the days of the Tea Party movement.

The Tea Party's effort to focus attention on the debt resulted in a bipartisan deal that made

miniscule spending cuts. In fact, most of the cuts were not even real. They

were just reductions in the projected rate of spending increase, meaning the

spending still increased but just by not as much as originally planned.

This was not the first time that apparent spending limits consisted of smoke and mirrors.

For example, the budget surpluses of the 1990s were due to the government's practice of counting the Social Security trust Fund as both a liability and an asset, not because of bipartisan

budget deals.

The Donald Trump inspired rise of populist nationalist conservatism that does not emphasize the national debt

means Republicans have less incentive to even talk about the debt aside from making justifiable though

hypocritical a tax law of President Biden and Congressional Democrats

excessive spending. Similarly, the rise of a Bernie Sanders influence new left

has led even centrist Democrats to stop giving lip service

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