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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BEFORE YOU CLICK AWAY!

“Lying.” “Disgusting.” “Scum.” “Slime.” “Corrupt.” “Enemy of the people.” Donald Trump has always made clear what he thinks of journalists. And it’s plain now that his administration intends to do everything it can to stop journalists from reporting things they don’t like—which is most things that are true.

No one gets to tell Mother Jones what to publish or not publish, because no one owns our fiercely independent newsroom. But that also means we need to directly raise the resources it takes to keep our journalism alive. There’s only one way for that to happen, and it’s readers like you stepping up. Please help with a donation today if you can—even a few bucks will make a real difference. A monthly gift would be incredible.

payment methods

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