Main Street Economics’ Wall Street Journal Ad Urges President Trump to Act on Looming U.S. Debt Crisis

We Must Act Now. We Cannot Keep Kicking the Can Down the Road – Les Rubin

WASHINGTON, DC, UNITED STATES, July 23, 2025 /EINPresswire.com/ -- As the United States hurtles toward an unsustainable fiscal future, Main Street Economics—an independent, nonpartisan nonprofit committed to educating the public on America’s looming debt crisis is calling on President Donald J. Trump to lead a national conversation on America’s unsustainable financial future. In a bold open letter to President Donald J. Trump placed today in The Wall Street Journal, Les Rubin highlights the urgent need for decisive leadership in confronting the dangerous path that America is traveling.

The quarter-page ad, published nationwide, was designed to draw attention to the critical need for strong, honest leadership to address the nation’s unsustainable fiscal trajectory.

“Our government is borrowing $10 trillion a year just to stay afloat,” said Les Rubin, Founder and President of Main Street Economics. “This isn’t just bad economics—it’s national self-destruction. We are not just in fiscal trouble—we are in mortal danger.”

In the published letter, Rubin urges President Trump to lead a national truth-telling campaign about the debt crisis. He proposes a statutory bipartisan Fiscal Responsibility Commission, empowered to recommend specific solutions and supported by a sweeping public education campaign.

“The American people are not the problem, they’re the solution,” Rubin said. “But they must understand the problem before they will be willing to support the difficult political solutions that are required. And our politicians must have public support to make these changes.”


The WSJ ad outlines a stark picture of America’s current situation:

Annual fiscal shortfall: $10 trillion

Interest-bearing debt: $37 trillion

Projected debt by 2035: $70 trillion

Rubin warns that the government’s current trajectory mirrors a Ponzi scheme by borrowing new money to pay off maturing debts and cover our enormous deficits. “Eventually, all Ponzi schemes fail,” Rubin writes. “When this one does, we’re looking at a collapse worse than the Great Depression.”

To further support the message, Main Street Economics is also circulating a companion op-ed published yesterday by Inside Sources, The piece, “Skip the OBBBA Demagoguery, Look at the Facts”, will be run by newspapers throughout the United States.

“The United States still has time to change course, but that window is closing fast. A country that repeatedly votes for new benefits while charging them to its grandchildren is playing a dangerous game. Eventually, the bills come due,” Les Rubin, wrote in the op-ed.

In both the ad and the op-ed, Rubin stresses that any real solution must include structural reforms, controlled spending, and ultimately, a constitutional amendment to enforce fiscal responsibility.

“Too many politicians talk about the nation’s debt, but very few are willing to confront it head-on, because they believe, correctly, that the American citizens will not support the needed change.” Rubin added. “That is why the education effort is so essential. We are asking President Trump, and all candidates, to be honest with the American people. Because honesty is the first step toward healing a broken system.”

Main Street Economics is actively encouraging voters, policymakers, and candidates to understand the danger and engage with the issue now, before the fiscal options become impossible. It encourages individuals to contact government leaders to share their concerns too. A portal on the Main Street Economics website makes it easy for interested parties to send a message instantly to their elected representatives: https://www.mainstreeteconomics.org/contact-congress.

The goal Rubin has with this letter and activism is to break the cycle of political gridlock with a national education campaign to explain the problem and the solutions. Only then will we get meaningful changes.



The full letter is below:

President Donald J. Trump
The White House - 1600 Pennsylvania Ave NW
Washington, DC 20500

Dear President Trump,

The United States is committing suicide – we are insolvent. You understand the gravity of this situation and have taken some initial steps and made progress, but much more needs to be done.

The United States is not bankrupt so long as we can still borrow—but the reality is dire. In 2024 alone, we sold $10 trillion in new debt just to cover the shortfall. Our interest-bearing debt today is $37 trillion, and if we stay on our current trajectory, it will rise to approximately $70 trillion in 10 years. At that point, we would need to borrow around $25 trillion annually just to meet our cash shortfall. This is clearly unsustainable, a fact even acknowledged in the government’s own audited financial reports.

This is a classic Ponzi scheme - borrowing new money to pay old debts and cover losses. They all eventually fail - when ours fails America will not be great, it will be an unmitigated disaster - there will be no good solutions if we allow this crisis to occur. We would have to either default on our obligations or print money. Either has terrible economic outcomes – worse than the Great Depression. So, we kick the can down the road, but the road is getting very short. Nobody knows when the disaster will strike; it could even happen on your watch.

The only real solution is to limit government, reduce spending, and gradually balance the budget—just as our Founders intended and as the Constitution clearly prescribes. A limited government combined with financial prudence would help us in many ways: 1. We will avert the looming disaster; 2. More capital will be available to the private sector; 3. With the additional capital available to the private sector, the economy will grow faster; 4. Incomes will rise, raising the standard of living for all; 5. Inflation will be reduced; 6. Interest rates will decline. Cutting expenses is difficult, but if we protect the truly needy, it can be done. There will be short-term challenges, but these are minor compared to the catastrophic consequences of a national bankruptcy. It would be unconscionable and immoral to leave our kids and grandkids a bankrupt nation.

The permanent solution is a constitutional amendment mandating fiscal responsibility—a necessary but lengthy and difficult path. As an essential first step, Congress should establish a statutory commission tasked with analyzing the problem and proposing solutions, including a requirement that its recommendations receive an up-or-down vote in Congress. This must also include a comprehensive public information and education campaign to build public support for these tough, but necessary, choices. Yes, demagogues will distort the proposals and spread fear. An educated public will know better.

Mr. President, I am a deeply concerned citizen. I urge you to hear my plea and act—while there is still time.

Sincerely,


Leslie A. Rubin, President
Main Street Economics, a non-partisan, non-profit, public service corporation





About Main Street Economics

Main Street Economics was formed to provide Economic Education for the American public. We focus on explaining the fiscal problems we face and basic economics in easy-to-understand language by laymen for laymen without formal education in economics. For more information on Main Street Economics and its initiatives, please visit https://www.mainstreeteconomics.org/


To schedule an interview with Les Rubin, please contact Dan Rene at 202-329-8357 or dan@danrene.com.

Dan Rene
Dan Rene Communications
+1 202-329-8357
dan@danrene.com
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