Main Street Economics Urges President Trump to Lead on National Debt Crisis

We Must Act Now, and We Must Act Boldly. The Time for Truth and Courage is Here.” – Les Rubin

WASHINGTON, DC, UNITED STATES, May 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 debt crisis—is calling on President Donald J. Trump to lead a national conversation on America’s looming economic disaster.

In a direct letter to President Trump, Les Rubin, Founder of Main Street Economics, implores him to be the first major political figure to tell the American people the hard truth about the federal debt crisis and the drastic action required to avoid economic catastrophe.

“Mr. Trump is uniquely positioned to shift the national conversation from short-term politics to long-term survival,” said Rubin. “He is the only national leader today who has the independence, the platform, and the courage to tell the people the truth. We are not just in trouble—we are in danger.”

Rubin’s letter is a passionate call for statesmanship and accountability, warning that the United States is racing toward a fiscal cliff that threatens future generations. Main Street Economics believes that without strong and immediate leadership, America’s economic foundation will continue to crumble.

“Too many leaders talk about the problem, but do little to fix it. We need someone who will talk straight to the American people—and Donald Trump can be that person,” Rubin continued. “He has the chance to lead not only a campaign, but a movement to restore fiscal sanity in this country.”

Main Street Economics continues to deliver accessible, fact-based economic education to Americans across the country. Its mission is rooted in the belief that an informed electorate is the only path toward meaningful change.

In a recent op-ed syndicated by Inside Sources, Rubin, underscores the urgent fiscal challenges facing the United States. He asserts, "The United States is insolvent. That’s not hyperbole, it’s a financial fact." Rubin highlights that the nation's expenditures far exceed its revenues, leading to an unsustainable reliance on borrowing. He warns that without immediate and significant reforms, the country risks severe economic consequences.

The goal Rubin has with this letter and activism is to break the cycle of political gridlock with a national campaign of truth and responsibility.

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. This is how I view our current financial situation:

Financial Needs:
Repay Maturing Debts - $8 Trillion
Operating Expenses - $7 Trillion

Total Needs: $15 Trillion

Resources:
Gross Income - All Sources - $5 Trillion

Cash Shortfall - ($10 Trillion)


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



With this letter, Rubin does more than sound an alarm, he offers a path forward. At the heart of his proposal is the establishment of a national Fiscal Responsibility Commission: an independent, bipartisan body empowered to study the crisis, recommend specific policy changes, and present those recommendations for an up-or-down vote in Congress. Crucially, the Commission would also lead a public education campaign to build broad understanding and support for its proposals.

“The American people are not the problem, they are the solution,” says Rubin. “But they need to know the truth. A commission backed by a full-scale public awareness campaign is our best hope to break through the noise and make responsible action possible.”

Rubin emphasizes that this must be more than a political exercise and become a moral movement. “We are not talking about line items and spreadsheets, we are talking about our kids and grandkids’ futures. This is about the kind of country we leave behind,” Rubin added. “If we fail to act, we are complicit in a betrayal of the next generation.”

Main Street Economics urges all candidates and elected officials—not just President Trump—to support the formation of such a commission and prioritize real fiscal reform in their platforms.

“The truth is painful,” says Rubin, “but a little pain now is better than devastation later. The longer we wait, the fewer options we have.”


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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

US debt of 37 Trillion means $330,000 for every family. And that will double over the next decade.