Let’s Stop Paying to Bankrupt America

In this American Thinker article, Jim Cardoza argues that America’s debt crisis is ultimately a crisis of political incentives, and that Congress should personally feel the consequences of reckless deficit spending.

• Cardoza says Washington politicians have spent decades claiming to support fiscal responsibility while normalizing massive deficits and a national debt above $35 trillion.
• He argues that the country’s reserve-currency advantage, foreign demand for Treasury bonds, and once-low interest rates allowed politicians to delay the consequences of overspending.
• The article warns that rising interest payments are forcing the government to borrow just to service existing debt, comparing it to using one credit card to pay another.
• Cardoza frames inflation as a hidden tax that disproportionately punishes savers, retirees, wage earners, and ordinary families while protecting those who own inflation-resistant assets.
• He also presents debt as a national-security problem, warning that dependence on foreign creditors and internal fiscal weakness can undermine great powers.
• The moral argument is central: politicians are obligating future taxpayers who never consented to pay for today’s promises.
• Cardoza says Congress is incentivized to spend because spending buys votes, headlines, influence, and constituencies, while restraint creates immediate political enemies.
• His proposed solution is to suspend congressional pay whenever Congress authorizes spending beyond the previous fiscal year’s revenue.
• He acknowledges that congressional salaries alone would not solve the deficit, but says the point is to change incentives and impose personal consequences on lawmakers.
• The article concludes that America must either restore fiscal discipline voluntarily or face discipline imposed by an eventual economic crisis.

Read the full story: https://www.americanthinker.com/articles/2026/05/let_s_stop_paying_to_bankrupt_america.html