National Debt Hits $40 Trillion: Watchdog Releases Report Slamming Proposed Tax and Spending Hikes

FOR IMMEDIATE RELEASE

Contact: Kara Zupkus (224) 456-0257

WASHINGTON, D.C. – Today, the Taxpayers Protection Alliance (TPA) released a report warning that the national debt will keep climbing at a dangerous pace if politicians and policymakers enact a radical big government agenda. “The Taxpayer Tab: Footing the Bill for a Radical Agenda” analyzes proposals championed by politicians such as Dr. Abdul El-Sayed—the Democratic nominee in the 2026 U.S. Senate election in Michigan—and finds that they would cost Americans more than $5 trillion in new taxes over the next decade and an astounding $40 trillion in new spending. Key findings include:

• Implementing “Medicare for All” would cost taxpayers more than $32 trillion over the next ten years while disrupting healthcare access for millions of patients.
• Enacting a “Green New Deal” would cost up to $12.3 trillion over the next ten years, and the bulk of costs would inevitably be borne by taxpayers.
• A proposed wealth tax would cost taxpayers more than $2 trillion over the next decade and result in significant capital flight and tax-avoidance strategies.

TPA Executive Director Ross Marchand issued the following statement:

“The national debt is a $117,000 tax on every man, woman, and child in the United States. If radical politicians such as Abdul El-Sayed and Sen. Elizabeth Warren (D-Mass.) succeed in implementing bank-breaking ideas like Medicare for All and the Green New Deal, families will be crushed under the weight of even more debt. Free enterprise and limited government have made America the great country that it is, and these proposals would render these institutions obsolete with crushing costs and reams of red tape.

“TPA urges Congress and the Trump administration to work together to get the debt under control. Commonsense reforms such as means-testing Social Security, raising the age for Medicare eligibility, and block-granting Medicaid would save taxpayers trillions of dollars and pave the way for continued prosperity. America cannot afford more financially, intellectually, and morally bankrupt spending programs.”

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The Taxpayers Protection Alliance (TPA) is a non-profit, non-partisan organization dedicated to educating the public through the research, analysis, and dissemination of information on the government’s impact on the economy.