Defusing America's Debt Bomb
America’s $36 trillion national debt—causes, impact, and remedies—written for laypeople’s understanding
Traverse City, Michigan—As 2025 began, America’s national debt stood at $36 trillion, $31 trillion more than just twenty-four years ago and is expected to increase by an additional $1.9 trillion by year-end. Under existing law, which assumed the expiration of the 2017 Trump tax cuts at the end of 2025, the debt was projected to grow to $51 trillion by 2034. However, if the 2017 tax cuts are extended and other parts of President Trump’s program enacted, the debt estimate in 2034 increases to $58 trillion.
In his book, Debt and Taxes: Defusing America’s Debt Bomb, Mission Point Press, (March 27, 2025) Howard Mick likens this debt growth to a ticking time bomb that must be defused to avoid a fiscal disaster that would severely damage America’s economy and standing in the world.
Relying on History
In making his case, Mick relies on history, rather than partisan arguments. “History tells the story of how we got here and suggests what we need to do to change course,” he said. Using laypeople’s language and historical government records to chronicle the evolution of America’s national debt, the book challenges citizens to become involved in solutions.
The November 2024 election occurred as this book was ready to go to print. Mick decided to postpone release until he had prepared an addendum that supplements earlier pages by including post-election developments. Based on his research, he concludes that the spending cuts and revenue from tariffs proposed by the administration would be unlikely to offset the additional debt created by the other components of the Trump program. More is needed. Deficit reduction measures are needed that not only offset the additional debt created by the Trump tax cuts but make substantial additional reductions.
Changing Course
Mick argues that voters must demand that Congress exercise clear-eyed independent judgment and refrain from considering any tax reductions or tax cut extensions until a feasible plan is in place to bring debt growth down to below the level of economic growth. This reversal of direction must be done and the longer we wait the more difficult the task becomes.
Debt and Taxes focuses not just on the size of the debt but also on the debt ratio which is the ratio of the debt to America’s gross domestic product. Chapters include America’s Debt Ratio Burden in 2024, Origins and History of Debt Ratio Growth, The Pandemic-Caused Debt Explosion, Where the Money Is and Isn’t, Aging Population Challenge, Growing the Economy through Immigration Reform, and Reverse the Debt Ratio Trajectory.
Voters who are concerned about the unsustainable growth in our debt will find Debt and Taxes an invaluable reference enabling them to express their concerns from a background of knowledge and authoritative information.
The Author
Howard Mick worked for fifty-two years in the legal field, retiring in 2012. After serving as an Army reservist, he joined a leading Kansas City law firm, where he specialized in business law, including public stock offerings, mergers and acquisitions, and bank regulation. His work, particularly in the banking sector, earned him recognition in Best Lawyers in America.
For over forty years, Mick has been concerned about America’s fiscal policies and the growing national debt. He wrote Debt and Taxes to provide citizens with a clear understanding of how policies have shaped the national debt and wealth distribution. Drawing on his extensive legal experience, he aims to provide readers with the crucial knowledge needed to navigate and influence the future of America’s fiscal landscape.
The Book
Debt and Taxes: Defusing America’s Debt Bomb
Howard Mick
132 pages; 5 x 8 inches; B/W
Business & Economics, Political Science
ISBN: 978-1-961302-91-4, $11.95 (Softcover)
Mission Point Press, March 27, 2025
Copies are available in for preorder at Bookshop.org, Amazon, and other online retailers. On its March 27, 2025, publication date, it will be available for purchase wherever books are sold. For information or to arrange for signings and events, contact the author at
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