Why does the op-ed say Washingtons debt is especially harmful to younger Americans?

It argues that younger Americans will inherit higher costs, weaker growth and fewer choices because they did not approve decades of debt-financed tax cuts and spending increases. The piece calls that intergenerational theft and says the burden falls most heavily on people entering the workforce, buying homes, starting businesses and raising families.

What economic effects does the article say come from persistent US deficits?

It says persistent deficits can crowd out private investment, raise borrowing costs and add pressure to inflation. The piece says this can make mortgages, car loans, rent, groceries and utilities more expensive, while also making it harder for businesses to expand and entrepreneurs to find affordable financing.

At $40 trillion in debt, Washington is stealing from younger generations

Q: What solution does Carolyn Bourdeaux say Congress should adopt to address the debt?

She says lawmakers should pay for new spending and tax cuts, reserve emergency funding for true emergencies and create a bipartisan plan for the gap between what the government promises and what it collects. She says that discussion must include spending and revenue and explicitly put Social Security, Medicare and the tax code on the table.

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Summary

Washington’s national debt has exceeded $40 trillion, and the op-ed says the trend is especially harmful to younger Americans. It argues that structural deficits, rising interest costs and crowding out of private capital are already raising borrowing costs and shrinking fiscal room for future needs. The piece urges Congress to pair any new spending or tax cuts with funding, and to address Social Security, Medicare and the tax code in a bipartisan plan.

Key Facts

The article says the national debt now exceeds $40 trillion, which it says is roughly $117,000 for every man, woman and child in the United States.
It warns that the debt could reach $50 trillion as soon as 2032 if current borrowing continues.
The piece says heavy federal borrowing competes with families and businesses for capital, pushing up the cost of mortgages, car loans and financing.
It says interest costs are taking a larger share of the federal budget, leaving less money for education, infrastructure, medical research, national defense and future economic emergencies.
The article argues that Congress should pay for new spending and tax cuts and put Social Security, Medicare and the tax code on the table in a bipartisan fiscal plan.

By Carolyn Bourdeaux

Published Aug 26, 2026 1:40 pm KST

The national debt now exceeds $40 trillion. That equals roughly $117,000 for every man, woman and child in the United States.

The number is shocking, but the direction should worry us even more. Washington no longer borrows only during wars, recessions or national emergencies. The federal government now runs huge structural deficits every year. Congress spends far more than the government collects, then adds the difference to the debt with no credible plan to stop.

At this pace, the debt could reach $50 trillion as soon as 2032.

That burden is already shaping the lives of Americans who enter the workforce, buy homes, start businesses and raise families. Heavy federal borrowing competes with families and businesses for capital, pushing up the cost of mortgages, car loans and financing. Persistent deficits also add pressure to inflation, raising the price of rent, groceries, utilities and other necessities.

Interest costs create another squeeze. As Washington devotes more of the budget to servicing debt, Congress leaves less money for education, infrastructure, medical research, national defense and future economic emergencies. We spend more on yesterday’s decisions and preserve less capacity to invest in tomorrow.

Higher debt can also weaken economic growth by crowding out private investment. Businesses may delay expansion. Entrepreneurs may struggle to find affordable financing. Young adults who already face high housing costs, student debt and an uncertain retirement system will carry the heaviest burden.

This is a question of generational fairness. Younger Americans did not approve decades of debt-financed tax cuts and spending increases. Yet Washington expects them to absorb higher costs, weaker growth and fewer choices. That is intergenerational theft: One generation enjoys the benefits of borrowing while another inherits the bill.

Both parties own this failure. Republicans cut taxes without paying for them. Democrats expand spending without reliable financing. Each side condemns the other while defending its own exceptions to fiscal discipline. Congress repeats the pattern because lawmakers assume the consequences will arrive after the next election.

They are wrong. The consequences already appear in the federal budget, where interest consumes an ever-larger share of revenue. They appear in rising borrowing costs and shrinking room to respond when the country faces another recession or national emergency. Every year of delay narrows the options and raises the price.

Congress can break that cycle, but only by making the tough choices. Lawmakers should pay for new spending and tax cuts. They should reserve emergency funding for true emergencies, not use it as a loophole around budget rules. They also need a bipartisan plan that addresses the gap between what the government promises and what it collects.

That discussion must include spending and revenue and explicitly put Social Security, Medicare and the tax code on the table. No serious plan can protect every priority, avoid every sacrifice and satisfy both parties completely. Governing requires trade-offs, and honest leaders should explain them instead of pretending that borrowing offers a painless alternative.

Delay will not spare Americans from difficult choices. It will make them only harsher. A fiscal crisis, higher inflation or a spike in interest rates would impose changes quickly and unfairly, with the greatest pain falling on people least able to absorb it.

Crossing $40 trillion in debt should mark more than another grim headline. Congress should treat it as a trigger for action. Lawmakers must stop asking younger Americans to finance today’s promises and start governing as though the future matters — because it does.

Carolyn Bourdeaux is the executive director of Concord Action and the Concord Coalition and a former member of Congress from Georgia. This article was published by the Chicago Tribune and distributed by Tribune Content Agency.

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