Let’s all send $360,000 to Uncle Sam!

As seen in The Oakland Press

September 13th, 2026

Let’s all send $360,000 to

Uncle Sam!

by Ken Morris

Longtime readers know I'm a fan of history. When the kids were young, vacation destinations were national parks and historical sites such as Gettysburg and D.C. Recently, my wife and I rode a train from Vancouver to Canada’s oldest national park, Lake Louise. It was spectacular. While in Canada, trade negotiations between our two countries collapsed and Lake Ontario was subsequently renamed.

Prior to the Canadian trade tensions, financial markets were already guarded due to rising interest rates and numerous global conflicts. When you talk interest rates, you are essentially talking about the bond market. And that’s a topic that deserves some discussion.

There’s a lot going on in the bond market these days. The Treasury recently made some liquidity moves on the 30-year bond that some experts say conflict with the objectives of our Federal Reserve. Specifically, the goal of controlling inflation. If you haven’t heard, our nation’s national debt just passed the $40 trillion mark. The loan interest payments alone on the bonds are so enormous that paying down principal is not even being discussed.

Wars and military conflicts aside, I have always stressed to readers and clients that my greatest concern is our national debt and how it could adversely impact your personal finances. If the recent surge in inflation doesn’t have financial experts focused on our national debt, it should. Rising inflation makes borrowing more expensive for both businesses and households. And higher interest rates tend to create higher costs.

Households are already carrying record credit card debt and anyone intending to buy a home can expect higher mortgage rates. Likewise, businesses looking to expand are paying more to borrow. The bottom line is that the interest rate market appears to be a bit rattled and is contributing to our national debt. And we can’t just ignore it.

It’s the equivalent of every citizen owing $116,000. But all citizens are not taxpayers. Actual taxpayers would need to pony up $360,000. Definitely not in the cards. So yes, our debt is a legitimate concern. Taxpayers don’t want to pay more in taxes and governments at all levels are spending more than ever before. Even though tax revenues are up significantly, it’s popular to hear people say, “tax the rich.” Meanwhile, our nation borrowed more this past July than we borrowed for the entire year just eight years ago.

So now that I’ve instilled fear into the heart of every saver and investor, what should you do? First, keep your emotions in check. If the markets become bumpy, don’t make any knee jerk money moves with your nest egg. Your money needs to maintain its purchasing power, especially in inflationary times. So stay calm. If you have any doubts, I suggest you review your portfolio with a qualified financial advisor.

Advisors can't insulate you from our nation’s overspending and inflation, but they can assess your situation and help identify vulnerabilities. The infancy of AI can make this a financially exciting time. Or, it could be a time of high anxiety because of world events and the unknown.

Hopefully, a review with an advisor can help reduce any anxiety and get you prepared for whatever comes next. You certainly don’t want to be caught in the middle of Lake America without a paddle.