Words to Remember
Deficits Are Just Delayed Taxes 🧠
“Blessed are the young, for they shall inherit the national debt.”
Why we ran it
The national debt crossed $40 trillion on a Tuesday and barely made the news, while the 30-year Treasury yield touched 5.31%, its highest since 2007. Hoover said this in 1936, when the debt was about $34 billion. The line has aged better than the number.
From the August 21, 2026 issue: Too Big To Feel →