US Debt Crisis: Is America Selling Out Future Generations?

Fort Myers, Florida May 12, 2025  – By Roy Meidinger

As of May 6, 2025, the U.S. national debt has surpassed $36.2 trillion, exceeding the previously approved limit. While Congress hasn’t formally approved this, the government uses methods like inter-fund transfers and unconventional accounting to keep operating. This conceals a harsh reality: the next generation faces a debt burden they didn’t create and might not overcome.

The cost of this debt is immense. Annual interest payments now exceed $1.2 trillion, the second-largest federal expense after Social Security. Instead of controlling spending, Congress plans to raise the debt ceiling by $5 trillion, continuing a cycle of borrowing from the future to pay for the past.

This fiscal irresponsibility is only the beginning.

A Legacy of Debt, A Future in Chains

Over the last four decades, older generations have benefited from extensive government spending, tax cuts, and entitlement programs. They enjoyed affordable education, homeownership, and public services, often without fully paying for them. Instead of responsible revenue generation, policymakers borrowed, shifting the cost to future generations.

Today, young Americans inherit this debt, along with failing systems: decaying infrastructure, unaffordable housing, expensive healthcare, and a struggling education system.

The Decline No One Dares Name

The quality of life in America has been declining. Once among the most prosperous and secure nations, the U.S. now ranks between 23rd and 24th globally in various indexes. The signs are widespread but have become so common that few recognize the extent of the decline:

• – Healthcare remains the most expensive globally, yet outcomes in life expectancy and chronic disease are poor.
  – Higher education costs continue to rise while public funding decreases.
  – Over 44 million Americans struggle with food insecurity.
  – Housing is unaffordable for most renters and first-time homebuyers.
  – Mental health crises, especially among young people, are increasing rapidly.
  – Public transportation and infrastructure are behind those of most developed nations.

The public is aware of this reality. Most Americans, especially those under 40, believe their children will be financially worse off. This is no longer pessimism, but a realistic outlook.

Why American Businesses Can’t Compete

Unlike other developed countries, the U.S. requires businesses to fund healthcare and social insurance upfront, before sales or profits. Employers must pay insurance premiums, payroll taxes, and regulatory fees simply for employing people.

Most developed nations fund healthcare and social protections through consumption taxes or profit-based contributions, allowing businesses to focus on innovation and competition. This difference makes U.S. goods more expensive, hurting global trade and increasing trade deficits.

This system burdens businesses instead of supporting them.

Healthcare: A Corrupt Industry Protected by the IRS

Inefficiency and illegality are the root causes of America’s rising healthcare costs. As detailed in “Economic Liberation,” health insurers take kickbacks from providers who must pay to be in their networks. These fees are disguised as “contractual adjustments” but are meant to buy access to patients. These payments ensure a steady stream of customers for the provider, eliminating competition and allowing inflated prices without market constraints.

Insurance companies then manipulate co-payments to direct patients to preferred providers—those who pay the most. This is particularly problematic in managed care programs, where low, fixed co-pays were originally intended to protect patients. These plans are being replaced by PPOs, which still require provider payments but allow higher and more variable patient costs.

The IRS’s refusal to tax these kickbacks, claiming the insurance company is the actual customer, is especially concerning. However, the Supreme Court has ruled that the patient is the true customer and that payor intermediaries do not legally own healthcare services.

By not enforcing the law, the IRS has protected this corruption, allowing it to harm other industries. Artificially high healthcare costs have made U.S. labor uncompetitive, leading to offshoring and manufacturing job losses.

A Roadmap Out of Decline

“Economic Liberation” offers a clear alternative based on global best practices and economic justice:

• – Eliminate the payroll (FICA) tax, replacing it with taxes on income and corporate profits.
  – Implement a national universal healthcare system covering everyone, eliminating kickbacks, and reducing costs.
  – Enforce existing tax laws by treating forgiven revenue, network access fees, and provider rebates as taxable income.
  – Balance the federal budget through tax code enforcement, not service cuts.
  – Maintain and protect Social Security benefits while changing their funding.

The Clock Is Ticking

This is more than a fiscal debate; it’s a generational crisis. Young Americans are inheriting trillions in debt and the consequences of a political system unwilling or unable to act.

However, they have power. They can vote, organize, and demand accountability.

They can say:
No more debt without discipline.
No more untaxed kickbacks.
No more burdening businesses before they create.
No more ignoring successful global practices.

If Americans want a future worth living in, they must fight for it now. If the next generation doesn’t act, there may be nothing left to save.

Roy Meidinger is a legal researcher and author of Economic Liberation: How to Reclaim Our Future Through Tax and Healthcare Reform. For further information, please visit the website , where you will find expert opinions supporting the legality of the facts.

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