America’s Chapter 11

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Batten down the hatches, mates; it’s almost over. According to a new report an economist at the Federal Reserve Bank of St. Louis, the U.S. government is bankrupt—or, at least, it will be soon. Battered by a growing budget deficit spurred by tax cuts we can’t afford and an unsustainable commitments to welfare and pension pay-outs, the authors say, the country is nearing insolvency.

So what to do? An article in The Telegraph recounts the report’s “terrifying” suggestions: “One solution is an immediate and permanent doubling of personal and corporate income taxes. Another is an immediate and permanent two-thirds cut in Social Security and Medicare benefits.” Right… well, for those of you willing to go down with the ship, just stick tight and keep paying your share of the damage. I’ll call you from Tehran.

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THE TRUTH...

is the first thing despots go after. An unwavering commitment to it is probably what draws you to Mother Jones' journalism. And as we're seeing in the US and the world around, authoritarians seek to poison the discourse and the way we relate to each other because they can't stand people coming together around a shared sense of the truth—it's a huge threat to them.

Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

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