The $40 Trillion National Debt ‘News’ Is A Big Load Of Meaninglessness

BusinessPolicyThe $40 Trillion National Debt ‘News’ Is A Big Load Of MeaninglessnessByJohn Tamny,Contributor.Follow AuthorAug 19, 2026, 06:30pm EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.SummaryGovernment spending is presented as the ultimate tax on freedom and progress, stifling innovation by diverting crucial capital. The $40 trillion national debt, though substantial, is already "priced in" by markets. Despite a sixfold increase since 2007, 30-year Treasury yields remain similar, indicating investor confidence, not fear of default. The true crisis isn't a traditional debt crisis, but rather its very absence. This signals that investors expect the wealthy to be heavily taxed, ensuring future government revenues even with stable tax rates due to skyrocketing wealth. The real, invisible crisis is the lost growth and innovation—health, technology, and living standard advancements—that aren't occurring because capital is consumed by government, rather than fueling private sector progress. This unseen impact is difficult to address.Show More WASHINGTON, DC - JUNE 3: The U.S. Capitol Building is seen on June 3, 2026 in Washington, DC. (Photo by Kevin Carter/Getty Images)Getty ImagesGovernment spending is unquestionably the biggest tax on freedom and progress of all. While Elon Musk, Mark Zuckerberg, and Jeff Bezos will work at all manner of tax rates, they quite simply cannot innovate without capital. Neither can those who stand on their broad shoulders. The more that the federal government spends, the more that precious resources are shamefully consumed on wars, make-work programs, and backwards looking stabs at economic growth (meaning economic contraction) that shrink the amount of capital matched with the brilliant minds trying to invent the future. Government spending doesn’t boost growth as the slaves to GDP who populate the economics profession claim, it suffocates...