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Big Government, High Taxes, and Rising Debt: America’s Fiscal Crisis Explained


Published February 20, 2024

Over the next decade, the expanding federal debt, driven by chronic deficit spending is set to result in interest payments comprised of 40% of all revenue from personal income taxes. This means enormous amounts of taxpayer dollars will flow to creditors and foreign governments rather than national priorities like the military, schooling, healthcare, and support for those in need. Current projections indicate extreme tax hikes may not even keep pace with rising interest costs.  Unless real reform can be implemented, the United States will find itself in the midst of an economic catastrophe.

Additional Resources:

  • Watch "Factors that Promote Economic Prosperty" with John Cogan. Available here.
  • Watch "The Negative Effects of High Taxes" with John Cogan. Available here.