Dear Time Magazine: Cut the Crap, Okay?

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Sigh. Matt Yglesias draws my attention to this week’s cover of Time, a Trump-friendly warning that we’re all doomed thanks to the national debt. Matt takes apart this inane argument just fine, but I’ll do it more quickly: You will never have to pay down this debt. Nor will your children. Or your grandchildren. Just forget about it.

And if we ever do have to pay some of it down? We’ll get to pay it off over decades, just like any other debt. And the rich will pay a bigger share than you. But I guess “You might someday owe $145 per year” doesn’t make a very good magazine cover.

I know the doomsayers don’t care, but at the moment we’re paying about 2 percent of GDP to service the national debt. The chart below shows how that’s skyrocketed since—um, I mean, declined steadily since its height during the Reagan era. Pretty scary, isn’t it?

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In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

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Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

payment methods

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