Showing posts with label Economy. Show all posts
Showing posts with label Economy. Show all posts

Wednesday, September 23, 2026

Chris Hedges: Don Corleone Trump - Read by Eunice Wong

As always, Chris Hedges is exemplary in his wisdom and knowledge, integrity and courage, awareness and profound commitment to bringing us the darker realities and truths too often missed, minimized, denied, and distracted from by the mainstream media — while also being essential for us to be empowered to know, understand, and act upon. Please also know that Chris Hedges has been warning us about where we find ourselves at today for decades. Which is exactly why mainstream corporate funded American media never features him. And I do mean never. Chris embodies a strong and unrelenting threat to the neoliberal and now fascist status quo. Which is what makes him so dangerous to the most wealthy and their devastating corruption and unquenchable greed. And so vital to the rest of us. — Molly

The Don – by Mr. Fish.

Trump’s White House runs a mob-style extortion racket that will bankrupt the country the way Trump bankrupted his casinos.

By Chris Hedges and Eunice Wong

I visited Donald Trump’s Taj Mahal Casino in Atlantic City the day before it closed, in October, 2016. The casino had two huge white gates flanked by 2-ton white, cast-stone elephants. Its entrance was topped by an array of 70 turquoise and teal fiberglass minarets and a dozen gold-tipped domes. A neon sign with red and gold lettering read: “Trump Taj Mahal Casino and Resort.” A lighted fountain in front of the glass casino doors was decorated with two rows of six white-and-gold urns.

The Trump Taj Mahal, New Jersey’s tallest building and the world’s largest casino, cost $1.2 billion to build. The opulent suites, when they opened, were named after historical personalities — Alexander the Great, Michelangelo, Napoleon and Cleopatra. The suites cost around $10,000 per day. Trump, whose name and image were plastered throughout the casino, employed his familiar hyperbole to call it the “eighth wonder of the world.” The casino operators were instructed to answer incoming calls with the words: “Thank you for calling the Trump Taj Mahal, where wonders never cease.” The waitresses wore “harem girl” outfits.

The casino went through bankruptcy five times.

Trump is doing to the country what he did to the Taj Mahal. His administration is operating well beyond its means with a budget of $7.4 trillion for fiscal year 2026, against projected revenue of just $5.6 trillion. Trump’s idiocy has embroiled the United States in an endless and unwinnable war with Iran, which may tank the global economy. He is set to cut health coverage for 15 million people, along with food assistance and other basic needs programs. He has terminated the jobs of thousands of government employees. He has shut down USAID, the U.S. Institute of Peace and the Kennedy Center. He gutted Voice of America and vows to close the Department of Education. He withdrew from the World Health Organization and the Paris Climate Agreement (twice). He continued the suspension of funding for the U.N. Relief and Works Agency for Palestinian Refugees in the Near East (UNRWA), which had begun under the Biden administration. He canceled thousands of U.S.-funded international development projects. He erased government datasets and climate-related web pages. He slashed the budgets for renewable energy initiatives while revoking federal carbon and pollution regulations.

His scorched earth policies, which are dynamiting the foundations of the republic, are accompanied by a culture of corruption and deceit that is unmatched in American history.

Trump, whose officials face accusations of insider trading and whose family has made more than $1.4 billion from crypto-related ventures since taking office, shamelessly profits from the fusion of unregulated cryptocurrency-based prediction markets and politics pioneered by gambling apps, such as Polymarket.

Donald Trump Jr.’s venture capital firm, 1789 Capital, is a major investor in Polymarket, where he sits on the advisory board. He has an estimated net worth of $400 million. He also serves as a strategic advisor at Kalshi, which gave him equity in the company worth some $300,000 — now estimated to be worth millions. Kalshi recently announced it will allow users to bet on whether the FDA will approve individual drugs as “safe and effective.”

Trump’s Truth Social is developing a prediction market called Truth Predict. His administration sued Connecticut, Arizona and Illinois in an attempt to block these states from regulating prediction markets. Truth Social also launched a $100,000 per month service offering quicker access to Trump’s market manipulating posts — a thinly disguised version of insider trading.

The White House, replicating the mob-style shakedowns of Atlantic City’s casino culture, demands huge payouts from corporations and billionaires in exchange for political favors and deregulation. The Wall Street Journal writes that Trump has amassed a slush fund of $800 million for pet projects, including his ballroom, presidential library, super PACs and political issue committees.

Trump’s chief fundraiser, Meredith O’Rourke, nicknamed “The princess of darkness,” collects the payoffs with the blunt pitch “The boss wants this money.”

The nonnegotiable demand is lifted from the playbook of Nicodemo “Little Nicky” Scarfo, the head of the Bruno-Scarfo crime family, whose extortion racket collected millions from Atlantic City construction firms, businesses, bars, restaurants, unions – which saw their health and welfare funds looted – and casinos. And, just like the mob, once is never enough for the Trump crime syndicate.

It always comes back for more.

Trump, who like most mobsters is accompanied by a much younger goomah — his latest being his executive assistant Natalie Harp — has a long history of mob-like retribution. He issued executive orders targeting law firms that previously employed attorneys who investigated him. The firms lost security clearances and access to federal courthouses. Scrambling to placate Trump, they sheepishly succumbed to his demands.

When I arrived at Trump’s casino, the 22-space tour bus terminal was empty. Most of the 12 restaurants in the casino were closed. The casino’s arena, seating 5,500 people, had shut its doors.

The Trump Taj Mahal, like our republic, was about to die.

“When I walked inside the Taj, glittering Austrian crystal chandeliers, which cost $14 million each, dangled over the softly lit interior,” I wrote in America: The Farewell Tour. “Many were missing strings of beads. The walls were covered with mirrors. I looked out at rows of gaming tables, blackjack tables, roulette wheels, and three thousand slot machines that twinkled with colored lights. The slot machines emitted beeps, hums, and dings of various pitches. They stretched over an area the size of three football fields. The gambling floor was almost empty. The dealers stood in front of vacant, felt-covered tables. Most of the gamblers who slumped in the cushioned chairs in front of the slot machines were elderly and haggard. They robotically pulled down levers or pushed square buttons. They stared blankly at the spinning screens in front of them. One slot machine generates between $200 and $300 a day for the casino. The dedicated gamblers are given courtesy drinks. Housekeepers occasionally enter rooms to discover the corpses of elderly men or women who spent hours drinking more alcohol than their bodies could absorb. It is not uncommon for slot players to wet and soil themselves.”

“The seventeen computerized check-in desks near the entrance were empty,” I continued. “A lone clerk stood behind the long counter facing empty rope lines. Toilets in the bathrooms, adorned with Carrera marble, were covered with plastic bags and had signs reading ‘Out of Order.’ I walked along the soiled and worn carpet through long, deserted, and poorly lit corridors on the upper floors. Semicircular beige wall sconces, some of which enclosed burned-out bulbs, were placed every few feet on either side of the hall. The sconces were dirty and cracked. The ceiling had brown water spots. The air smelled of mold. Three quarters of the 1,250 rooms had been mothballed. The casino felt like a ghost ship.”

Gambling, like Trump’s sham university and his $TRUMP memecoin, is about selling escapist fantasies. It is about preying on people’s despair. The spinning reels on the slot machines, for example, are an illusion. They do not slowly run out of momentum. They are programmed to appear that way. Computer chips determine the outcome the moment the button is pushed or the lever pulled. Virtual reel mapping ensures that a jackpot symbol appears above or below the payline. The player has the impression of almost winning, spurring the gambler to bet more money.

Trump from his earliest days as a real estate developer was enmeshed with the mob, including his cutthroat lawyer Roy Cohn. Cohn represented Anthony “Fat Tony” Salerno, the boss of the Genovese crime family, and Carmine Galante from the Bananno crime family. Trump was schooled by Cohn and others in the art of extortion, blackmail, threats and graft. He has, throughout his career, surrounded himself with mobsters, grifters and sycophants.

Joseph Weichselbaum, a three-time-convicted felon who was eventually imprisoned for trafficking marijuana and cocaine, managed Trump’s helicopter fleet. The helicopters ferried high rollers to and from Trump casinos. These high rollers could get anything they desired, from sex with escorts to cocaine. Weichselbaum’s easy access to drugs was probably an asset. When Weichselbaum was awaiting sentencing, Trump wrote to the judge that he was “a credit to the community.” The trafficker received a three-year sentence, although he served only 18 months. The couriers who physically delivered the drugs for Weichselbaum got up to 20 years. When he was released from prison, Weichselbaum moved into Trump Tower with his girlfriend.

Trump’s casino opened in 1990 with a concert by Michael Jackson. It was an extravaganza built with $820 million of unsustainable debt, including the issuing of $675 million in junk bonds at a 14 percent interest rate.

Marvin B. Roffman, a casino analyst at the Philadelphia investment firm Janney Montgomery Scott, told The Wall Street Journal that the Taj Mahal would need to make $1.3 million per day to meet its interest payments. No casino had ever brought in that much money.

“The Taj was doomed from the start,” I wrote. “Trump soon had to service interest rates of $95 million a year. He was able to get new loans for a while and then went bust. It was a brief and giddy moment of insane excess. But it was good for his outsized brand, even if it showed an atrocious lack of business sense. Trump had borrowed money at high interest rates and lied about the rates to regulators. Trump dumped the losses on stock and bondholders, who were fleeced for more than $1.5 billion. Numerous local contractors and suppliers, never paid by Trump, went bankrupt.”

Trump made out like a bandit. He put up little of his own money. He shifted personal debts to the casino and collected millions of dollars in salary, bonuses and other payments. His casino employees collectively lost millions of dollars in retirement savings, along with their jobs. His business debts were off-loaded on his investors.

Trump owned three casinos in Atlantic City and one in Gary, Indiana. The Trump Plaza and the Trump Taj Mahal casinos were shut down. The Trump Marina, his third casino, was sold to Texas billionaire Tilman Fertitta. Fertitta, currently Trump’s ambassador to Italy, renamed it The Golden Nugget. Trump’s casino in Indiana, a 340-foot vessel called the Trump Princess, declared bankruptcy in 2004.

All failed because of Trump’s insatiable greed and mismanagement.

Trump is doing to the nation what he did to the Taj Mahal. He is harvesting and extorting the organizations he oversees for personal profit, while the rest of us are left bereft amid the ruins.

__________

This article was read by Eunice Wong. You can find her work at www.eunicewong.actor.

Text originally published August 3, 2026.

Please go here for the original article and reading: https://chrishedges.substack.com/p/don-corleone-trump-read-by-eunice

This is one of the numerous times that I saw Chris speak when he came to Portland. His books also line my bookshelves. I am inspired to continue to recommend the work of Chris Hedges to everyone.

https://chrishedges.substack.com/?utm_campaign=profile_chips

https://americanswhotellthetruth.org/portraits/chris-hedges/

Tuesday, September 22, 2026

Not Just AI and Climate—Inequality Also an ‘Existential’ Threat That Demands Global Cooperation: UN Chief

United Nations Secretary-General António Guterres speaks at the UNA-UK conference to mark the 80th anniversary of the founding of the UN in London on January 17, 2026. (Photo by Toby Shepheard/AFP via Getty Images)

UN Secretary-General António Guterres called on leaders to work together to solve the growing problem of global inequality at the UN General Assembly.

By Julia Conley
Sep 17, 2026

High-level meetings at the United Nations General Assembly are set to begin next week, and they come at a time when the threats to humanity posed by the climate emergency and artificial intelligence have never been clearer.

Those crises demand that policymakers work together to prevent catastrophic, permanent planetary heating and the creation of “runaway” AI technology, suggested UN Secretary-General António Guterres on Wednesday, but he emphasized that another pernicious, destructive problem cannot be overlooked.

Guterres also named “the intolerable deepening of inequalities” as another “existential threat” that leaders must address at the upcoming meetings.

Earlier this year, the anti-poverty group Oxfam International released a report showing that combined billionaire wealth stood at $18.2 trillion in 2025, having risen from $3.6 trillion in 2009.

At the same time, the number of food-insecure people on Earth shot up to 2.2 billion in 2024, rising from 1.5 billion a decade earlier.

“Nearly half of the world lives in poverty while a select few continue to gain extreme wealth and power,” said Oxfam at the time. “The amount of wealth owned by the poorest half of the world is less than the amount owned by just the 12 richest billionaires. This extreme concentration of wealth isn’t just making life less affordable for most of us, it’s creating harmful divisions. Billionaires, corporations, and politicians are taking away people’s basic ability to make choices about their futures and suppressing dissenting voices.”

An analysis focused on wealth inequality in the US by the Center for American Progress (CAP) this week also showed that the gap between the ultrarich and the rest of the American public has gotten significantly wider in less than two years since President Donald Trump was reelected, with hundreds of billions of dollars in financial backing from billionaires including tech CEO Elon Musk.

“Since Trump took office, the ultrawealthy (top 0.1%) gained more than 8,000 times as much wealth per household as those in the bottom half of the wealth distribution,” said CAP. “To provide an example of the extremity and exponential nature of wealth inequality in the United States, the 10 wealthiest Americans alone saw their real fortunes grow by a combined $259 billion over the same period, according to the Bloomberg Billionaires Index—about $26 billion per person, or 22 million times more than the bottom half’s $1,200 per household.”

Economic experts have found that the growing inequality crisis is entirely solvable. As Common Dreams reported last year, research from the European Union Tax Observatory found that a global 2% minimum tax on billionaire wealth “would generate about $250 billion in tax revenue—from just 3,000 individuals,” raising about $50 billion in Europe alone.

In 2024, finance ministers at a meeting of the Group of 20 in Rio de Janeiro agreed on the need to tax the richest people in the world at a higher rate to address persistent and worsening economic inequality.

As Common Dreams reported Tuesday, a study published in The Lancet found that the global inequality that’s been worsened by Trump’s foreign aid cuts could be addressed by a 3% wealth tax—raising a small amount of money compared to the total wealth of the world’s richest people, but enough to save 29.5 million lives over the next four years.

Climate campaigners in Africa, who have demanded an end to French company Total Energies’ East African Crude Oil Pipeline (EACOP), agreed with Guterres’ point that “climate, inequality, and international cooperation are inseparable.”

“People living along EACOP’s path,” said the group Stop EACOP, “are the first to bear the environmental and economic costs of decisions made far from their communities.”

Please go here for the original article: https://www.commondreams.org/news/global-economic-inequality

Friday, September 11, 2026

EXCELLENT — Osama Bin Laden Won

WOW! This article from The Intercept is excellent, chilling, and unspeakably infuriating, horrifying, heartbreaking, and true! Nick Turse absolutely 100% nails the utterly devastating reality and catastrophic impacts of the collapse of the American Empire and the ongoing immense global suffering, death, and destruction left in its wake. This is also the long standing and ever growing reflection of the shadow side of our country, what bell hooks described as “imperialist white-supremacist capitalist patriarchy.” Tragedy upon tragedy upon ever building tragedy. When oh when will We The People ever hold the powerful accountable and work together to stop the madness?!? — Molly


The architect of the September 11 attacks dreamed of the destruction of America. In the last 25 years, his wish has come true.

September 11 2026

President Donald Trump has refused to attend the ceremony at Ground Zero marking the 25th anniversary of the Al Qaeda attack on the World Trade Center — reportedly because he wanted to deliver a speech, and the annual event has long barred remarks by politicians. Trump, a native New Yorker who has often employed 9/11 as a rhetorical device, will instead head to the Pentagon, which was also attacked that day, where he can rant, rave, bellow, and bemoan whatever he is worked up about. He may, in the process, also pay cursory tribute to the victims in an aside.

“We recall the light of America’s best and bravest and the love that they showed in their final moments,” Trump said during last year’s 9/11 remembrance at the Pentagon. That, however, was scripted pablum. It’s far more illustrative to “recall” Trump’s thoughts on the attack on the afternoon of September 11, 2001, when New Yorkers were united in grief. Well, most of them.

Asked about the Trump Building at 40 Wall Street during a live TV interview that clear and cloudless afternoon, Trump took the opportunity to tout the increased standing that his building had just gained from the devastating terrorist attack. Trump made certain to note that his building “actually, before the World Trade Center, was the tallest.” Like Al Qaeda leader Osama bin Laden, Trump then took his own 9/11 victory lap. “When they built the World Trade Center, it became known as the second tallest,” he observed of 40 Wall Street. “And now it’s the tallest.” Like innumerable Trump statements in the 25 years since, it was callous and cringe-worthy and, of course, untrue. Nearby 70 Pine Street was actually taller.

Twenty-five years ago, I could not have imagined, as I watched the Twin Towers topple, that the New York real estate buffoon who used 9/11 to aggrandize his property’s height would become America’s president. And if you told me Trump’s supporters would attack the Capitol — something Al Qaeda tried and failed to do on 9/11 — to subvert the democratic process, that the insurrection would fail but that Trump would still be reelected, I would have laughed. But that and so much else came to pass, as the danger posed by Trump surpassed Al Qaeda and every other foreign threat to America. Bin Laden is long gone, but his spiritual successor remains ensconced in the White House. The Al Qaeda leader couldn’t have hoped for better.

— Nick Turse, editor of TomDispatch

How Two Trust-Funded Terrorists Destroyed America

I can still remember the smell. But I’m at a loss to accurately describe it to you. It wasn’t the unmistakable odor of death, although that must have been some tiny part of it. It wasn’t like burning tires or plastic or even metal. It was all that, but it was more.

In the quarter century since, I’ve been all over the world, but I’ve never experienced anything like the smell near the rubble pile at Ground Zero in September 2001. The air was acrid and thick, a swirl of toxins and carcinogens made possible by turning two large, jet-fuel laden planes into cruise missiles and aiming them at gigantic office towers. As it burned, we all inhaled a haze of pulverized cement, glass fibers, asbestos, lead, dioxins, polycyclic aromatic hydrocarbons, polychlorinated biphenyls (better known as PCBs), and whatever else. It remains a part of us still.

The 9/11 attacks — which killed almost 3,000 Americans, toppled New York City’s Twin Towers, wrecked the Pentagon, and took down a plane near Shanksville, Pennsylvania — marked the most devastating intelligence failure in U.S. history and sent the United States into a paroxysm of self-induced catastrophes from which it has never emerged. Al Qaeda leader Osama bin Laden’s spectacular coordinated assault supercharged what had been a slow-motion imperial decline, trapping the U.S. in a death spiral of ruinous intertwined economic debacles, foreign policy failures, democratic backsliding, authoritarianism, and debilitating wars and military interventions.
Bin Laden’s plan was to trap the U.S. in expensive, foreign quagmire wars that would trigger a domestic economic collapse. It was patterned on the strategy that the local mujahideen, he and other foreign fighters, and the U.S. and its allies had used to defeat the Soviet Union in Afghanistan.
Not only does bin Laden’s strategy continue apace long after his 2011 death, but it also spawned an even more effective means of destroying America from within. Bin Laden’s attacks turned the U.S. government into an engine for the destruction of America, inducing it to implement policies that have devastated the country and immiserated its people. That includes unrestrained spending while cutting taxes on the rich, closer ties with despotic regimes, the sneak-and-peek warrants and roving wiretaps of the Patriot Act and other domestic surveillance programs, and the ruinous failed forever wars in Afghanistan, Iraq, and elsewhere.
This swirl of toxic policies and governmental overreach opened the door to something beyond bin Laden’s wildest dreams, the rise of an even more effective terrorist who has crippled the U.S. in countless ways and sought to strangle the best of the country: President Donald Trump.

The So-Called Pearl Harbor of the 21st century was no surprise. Long before President George W. Bush, while vacationing at his ranch in Crawford, Texas, received a classified intelligence memo titled “Bin Laden Determined to Strike in U.S,” the Al Qaeda leader had been honest about his plans. “The call to wage war against America was made because America has spear-headed the crusade against the Islamic nation,” he announced in a 1998 TV interview, castigating the U.S. for stationing troops in the Middle East and its support of Israel. “The Western regimes and the government of the United States of America bear the blame for what might happen. If their people do not wish to be harmed inside their very own countries, they should seek to elect governments that are truly representative of them and that can protect their interests.”

When bin Laden made good on his threats, slaughtering thousands on 9/11, he knew it was bound to trigger a response. One possibility was a measured law-enforcement action that would end with arrests and legitimate legal proceedings. The other was a president standing on a rubble pile, vowing revenge, a never-ending fruitless war against a tactic (terror), a secret torture gulag, a forever prison, and a kangaroo court. One would be ruinous for bin Laden. The other, an answer to his prayers.

Bin Laden’s masterstroke was to attack the U.S. after it had elected a lightweight nepo-baby president and a power-mad vice president who had cut his teeth in Richard Nixon’s criminal-packed White House. While he came to be an enemy of Donald Trump, it was Dick Cheney who paved the way for America’s current would-be tyrant, with the vice president’s relentless campaign to concentrate power in the White House, creating an imperial presidency predicated on the “unitary executive theory,” a misbegotten notion that the Constitution grants the president unrestrained authority over domestic and foreign policy, such as unilaterally removing government officials and waging wars.

In both style and substance, Cheney prefigured Trump. In the immediate wake of 9/11, Cheney went on TV to announce the government would now operate on the “dark side,” as he put it, claiming “a lot of what needs to be done here will have to be done quietly, without any discussion.”

America has never emerged from those sinister shadows. Cheney was arguably the leading cheerleader for the ruinous war on terror, which began in Afghanistan, spread across the globe, and grinds on a year after his death; a prime architect of the disastrous Iraq War and the faulty, unverified, and cherry-picked intelligence that underpinned it; an enthusiastic supporter of torture, calling the waterboarding of detainees “a no-brainer”; a vocal supporter of domestic surveillance; a promoter of undemocratic, unprecedented, and unparalleled secrecy; and a belligerent bully.

“In our nation’s 246-year history, there has never been an individual who was a greater threat to our republic than Donald Trump,” Cheney said in a 2022 ad for his daughter, Liz, one of 10 House Republicans who voted to impeach Trump at the end of his first term. He might have been right — and he was certainly responsible. Trump has built on Cheney’s accomplishments and pushed America toward autocracy at an unprecedented rate.

After weakening American democracy during his first term, Trump launched a full-scale assault — literally — on it. Despite knowing he lost the 2020 presidential election, Trump refused to concede, worked to subvert vote counts and undermine the certification process, pressured state officials to “find” votes, and orchestrated what special counsel Jack Smith’s final report on it called an “unprecedented criminal effort” to remain in power.

Trump has built on Cheney's accomplishments and pushed America toward autocracy at an unprecedented rate.

Bin Laden was never able to raise an army in America, lead an insurrection, and launch an attack on the U.S. Capitol. (The plane meant to carry out that attack on 9/11 crashed in rural Pennsylvania.) But on January 6, 2021, with Trump’s encouragement, MAGA supporters stormed the Capitol. The House Select Committee that investigated the “domestic terrorist attack upon the United States Capitol Complex and issues relating to the interference with the peaceful transfer of power” concluded that Trump engaged in a “multi-part conspiracy to overturn the lawful results of the 2020 Presidential election.” It found that Trump, for hours, deliberately failed to act to stop his followers from attacking the Capitol. Smith said that the evidence gathered by his team “was sufficient to obtain and sustain a conviction at trial,” had the American people not reelected Trump.

Bin Laden would have no doubt cheered the attack on the Capitol and endorsed Trump’s reelection run, had he been alive. And he would not have been disappointed by the results. Upon returning to office, Trump unleashed a coordinated assault on American democracy, undermining the rule of law and fundamental freedoms by pardoning and rewarding insurrectionists; weaponizing the Justice Department, regulatory agencies, and the military against American citizens; firing government watchdogs; attacking the free press; engaging in naked and unrestrained corruption, such as violating the Constitution’s emoluments clause; engaging in due process violations, immigration lawlessness, and unconstitutional executive power-grabs; and launching a disastrous war with Iran and a murder-spree on the high seas amid a host of other foreign and domestic policy fiascos.

Since January 2025, there have been nearly 4,000 separate authoritarian acts by the Trump administration including around 1,050 undermining democracy, more than 940 suppressing dissent, over 650 aggressive or destabilizing foreign policy efforts, about 600 acts weakening civil rights, around 500 centered around controlling information or spreading misinformation, and more than 320 acts of corruption, according to the Trump Action Tracker, which documents acts and statements of Trump and his administration that echo those of other authoritarian regimes.

A startling global analysis also discovered “autocratization” in America rose at a speed “unprecedented in modern history” last year. Under Trump, the researchers found, the U.S. has ceased to be a functioning liberal democracy after the largest one-year drop in democratic principles in American history. This took the country back to 1965 levels, when Jim Crow racial discrimination in voting — including violence and intimidation, poll taxes, and literacy tests — were still commonplace. These results are bolstered by research by the nonprofit group Protect Democracy, which finds that the corrupting of elections, quashing of dissent, spreading of disinformation, and aggrandizing of executive power are all “escalating” in Trump’s second term, while both authoritarian actions and the politicizing of independent institutions in the U.S. are “rapidly escalating.”

In 2001, the U.S. government recorded a budget surplus of about $28 billion and was projected to pay off the national debt by 2009. But after miring the U.S. in forever wars in Afghanistan, Iraq, Somalia, and elsewhere, bin Laden looked upon the fruits of 9/11 and took a victory lap in 2004, bragging that his strategy of “bleeding America to the point of bankruptcy” had helped to push the U.S. deficit to “more than a trillion dollars.”

“All that we have to do is to send two mujahidin to the furthest point east to raise a piece of cloth on which is written al-Qaida, in order to make the generals race there to cause America to suffer human, economic, and political losses without their achieving for it anything of note,” bin Laden announced.

He could not have imagined just how closely and how long America’s leaders would hue to his plan, conducting commando raids, drone strikes, armed interventions, and outright wars in Afghanistan, Central African Republic, Cameroon, Egypt, Iran, Iraq, Kenya, Lebanon, Libya, Mali, Niger, Pakistan, the Philippines, Somalia, Syria, Tunisia, Yemen, and elsewhere. Nor could Al Qaeda’s leader have foreseen how deep into financial ruin the U.S. would sink as a result.

Bin Laden’s 2004 trillion-dollar boast wasn’t actually accurate. The U.S. federal deficit was just $413 billion in 2004. But it wouldn’t remain that low for long. America’s post-9/11 wars have now cost or caused long-term obligations to taxpayers of an astonishing $8 trillion, according to a 2021 analysis by Brown University’s Costs of War Project.

And Trump has continued to expand America’s ruinous foreign interventions from Ecuador to Iran. An Intercept analysis found that Trump has presided over more than 20 armed conflicts and wars during his two terms in office. And the costs continue adding up. Linda Bilmes, a former assistant secretary and chief financial officer of the U.S. Department of Commerce and currently a public policy professor at the Harvard Kennedy School, previously told The Intercept that the excessive expenses of the Iran war, alone, would likely reach into the trillions of dollars. And Trump is also currently pushing for a post-World War II record $1.6 trillion Pentagon budget for next year.

In case you hadn’t guessed, the pre-9/11 projection that the national debt would be paid off in 2009 never came to pass. Instead, the Bush and Trump presidencies were marked by massive tax cuts that mostly benefited corporations and the wealthiest Americans, depriving the Treasury of almost $10 trillion in expected revenue.

So after bin Laden’s attack; the forever wars of Bush, Barack Obama, Trump, and Joe Biden; and Trump’s contributions in disastrous conflicts and gross fiscal mismanagement, the $5.8 trillion national debt of 2001 has now ballooned by 590 percent to a staggering $40 trillion. That’s $1 million, 40 million times over.

About 50 percent of the debt has been accrued since Donald Trump was first elected. This week, Trump pledged to pay every American adult $5,000 if Republicans keep control of Congress in November, which would cost more than $1 trillion. And that $128 billion budget surplus from 2001? It’s been replaced by a projected federal budget deficit for this fiscal year of $2.1 trillion. This debt and deficit spiral is also occurring during a time of near-full employment when the government’s finances should actually be improving.

If bin Laden made it to paradise, as was his hope, he is no doubt smiling as the Trump administration dismisses the ballooning debt and the president peddles nonsensical claims that “growth will take care of that very easily.” The U.S. will actually spend more than $1 trillion this year just paying interest on the debt. The Peterson Foundation projects that total interest payments will more than double over the next decade — and that may be an undercount. And even if the debt remained steady at $40 trillion and the United States were to pay down $1 million per day, it would take almost 110,000 years to pay it off.

All this debt is also likely to keep interest rates high, raising the cost of mortgages, auto loans, credit cards, and small business credit, hurting ordinary Americans. High deficits and debt — particularly if coupled with high inflation or interest rates — make it harder for the government to respond to crises like a recession, depression, pandemic, or other emergency.

Then there is the weakened safety net that comes from deficits and debt. Bin Laden doesn’t need to worry about his golden years, and Trump is living them right now at taxpayer expense. But in 2032 — just six years from now — the Social Security trust fund is on track to go bust, to take one example of shortfalls on the horizon. By law, when the trust fund hits zero, all retirees’ benefits are mandated to drop by more than 20 percent.

Looking Back, I’ve come to think of the acrid odor of the collapsed Twin Towers as more than a mélange of burning paper, glass, concrete, and around 70 carcinogens. It was, instead, a harbinger of something even darker than the nearly 3,000 Americans who died on 9/11 — a long road of death and destruction stretching out into the future, beyond the vanishing point.

Even Bin Laden couldn’t have imagined long-term lethality of his attacks. Close to 9,700 first responders, survivors, and those who helped to clear nearly 1.8 million tons of debris at the World Trade Center have died of illnesses tied to 9/11, according to the September 11th Victim Compensation Fund. And more than 57,000 first responders and others have been diagnosed with 9/11-linked cancers. Around 155,000 people have enrolled in the World Trade Center Health Program, which provides care and health monitoring to people who were exposed to toxic air after 9/11. And an estimated 400,000 people were exposed to toxic contaminants, the risk of physical injury, and physically and emotionally stressful conditions in the days, weeks, and months following the attacks, according to the Centers for Disease Control and Prevention.

The vengeful war on the world that bin Laden managed to provoke has proved even more devastating than the effects of the toxic stew we inhaled near Ground Zero. An estimated 940,000 people were killed by direct post-9/11 war violence in Afghanistan, Iraq, Pakistan, Syria, Yemen, and elsewhere between 2001 and 2023, alone. Another 3.6 to 3.8 million people are estimated to have died indirectly in post-9/11 war zones, bringing the toll to at least 4.5 million dead and counting. This quarter century of carnage and all that it unleashed has left the U.S. hollowed out and rotting from within; a deterioration in every conceivable measure from economics to democratic ideals to the spiritual health of the nation.

Bin Laden’s bleed-until-bankruptcy plan was designed to sink America’s economy — and it continues to work to great effect. And by ushering in the presidencies of Donald Trump, bin Laden left the United States morally bankrupt, too. Twenty-five years after 9/11, the country is a pale shadow of the superpower that emerged from World War II having been laid low not by the Soviet Union — the nuclear-armed power it long considered an existential threat — but by two trust-fund terrorists: the scions of a Saudi construction empire, and an outer borough New York City real estate developer, respectively.

“The wise man doesn’t squander his security, wealth, and children for the sake of the liar in the White House,” bin Laden said in 2004, referring to Bush. He likely couldn’t have imagined America choosing an even more inveterate liar, an even greater intellectual lightweight, and an even more ruinous president. A quarter century after 9/11, it’s clear that bin Laden won. But the victory was not his alone. And, in the end, his role in it turned out to be vanishingly small. Bush, Cheney, Obama, and Biden, as well as a raft of politicians, government functionaries, and all who went along with the madness unleashed by the attacks, played key roles in helping hobble the U.S. in the 25 years since the September 11. But it’s been Trump, more than anyone else, who has made bin Laden’s lofty 9/11 dreams America’s never-ending nightmare.