Dear Time Magazine: Cut the Crap, Okay?

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Sigh. Matt Yglesias draws my attention to this week’s cover of Time, a Trump-friendly warning that we’re all doomed thanks to the national debt. Matt takes apart this inane argument just fine, but I’ll do it more quickly: You will never have to pay down this debt. Nor will your children. Or your grandchildren. Just forget about it.

And if we ever do have to pay some of it down? We’ll get to pay it off over decades, just like any other debt. And the rich will pay a bigger share than you. But I guess “You might someday owe $145 per year” doesn’t make a very good magazine cover.

I know the doomsayers don’t care, but at the moment we’re paying about 2 percent of GDP to service the national debt. The chart below shows how that’s skyrocketed since—um, I mean, declined steadily since its height during the Reagan era. Pretty scary, isn’t it?

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FOLLOW THE MONEY

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And right now, a longtime friend of Mother Jones has pledged an incredibly generous gift to inspire—and double—giving from online readers. That's huge! Because you can see that our fall fundraising drive is well behind the $325,000 we need to raise. So if you agree that in-depth, fiercely independent journalism matters right now, please support our work and help us raise the money it takes to keep Mother Jones charging hard. Your gift, and all online donations up $94,000 total, will be matched and go twice as far—but only until the November 9 deadline.

$400,000 to go: Please help us pick up the pace!

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