The Hartmann Report Daily Take: The National Debt Is the Evidence of the Crime: Who Pocketed the $38 Trillion?
Feb 24, 2026
A fiery take on the national debt as proof of a decades-long wealth transfer. Traces the trail back to 1981 tax cuts and supply-side policy. Imagines what $38 trillion could have funded — from Medicare for All to education. Frames interest payments as income funneled to wealthy bondholders. Presents a stark policy choice: tax the rich or keep the system as is.
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$38 Trillion Is A Deliberate Wealth Transfer
- The $38 trillion in lost revenue since 1981 represents an intentional upward transfer from public coffers to the ultra-rich via supply-side tax cuts.
- Thom Hartmann ties those cuts to a 45-year strategy that enriched billionaires while hollowing out public services and raising interest costs.
Concrete Examples That Make $38 Trillion Tangible
- Hartmann translates $38 trillion into concrete examples: ten years of Medicare for All, wiping out student debt, and building over 100 million homes.
- He uses these comparisons to make the scale tangible and show opportunity costs.
One Trillion A Year Buys Tangible Public Goods
- The current $1 trillion annual interest payment is a pure transfer to wealthy bondholders and financial institutions.
- Hartmann shows concrete alternatives this money could fund, like universal pre-K, student loan cancellation, or massive housing construction.