‘Big, Beautiful Bill ’ Can’t Save America: Haribhakti’s Blunt Warning on $36 Trillion Debt

"America’s fiscal future is at a historic crossroads," says Shailesh Haribhakti, issuing a stark warning about the nation’s ballooning debt. In his analysis, he takes direct aim at political grandstanding, especially Donald Trump’s trademark promise of passing 'big, beautiful bills, arguing that such slogans do little to address the scale of the crisis. 

According to Haribhakti, the US national debt now exceeds $36 trillion—more than 130% of GDP—and is rising fast, driven by persistent primary deficits, compounding interest payments, and unfunded liabilities from an aging population.
“While market confidence in the US remains high, supported by the dollar’s reserve currency status and the depth of US capital markets, these advantages must not be mistaken for invincibility,” he warned.

Haribhakti pointed to economic history—from Rome to Argentina—as proof that fiscal complacency can precede crisis, arguing that the US faces a paradox: despite its technological strength and innovation ecosystem, its fiscal trajectory is unsustainable without proactive, multidimensional reform.

“What is urgently needed is a new consensus and a strategy that embraces fiscal realism while enabling long-term dynamism,” he said.

A 5-Pillar Strategy Beyond the “Big, Beautiful Bill”

Haribhakti laid out five major policy pillars he says the US must adopt to arrest its fiscal slide:

1. Asset Monetization
The federal government owns over 640 million acres of land and vast infrastructure but remains liquidity-poor. Haribhakti calls for a comprehensive asset audit and the creation of a US Productivity Fund, modeled on a sovereign wealth fund, to repay debt and invest in infrastructure. Asset sales should be ring-fenced for debt reduction or capital investments—not general expenditure.

“Unlike Norway or Singapore, the US does not operate a sovereign wealth fund to capitalize on surplus assets. A paradigm shift is required.”

2. Expenditure Discipline and Entitlement Reform

The main budget drivers are mandatory programs: Social Security, Medicare, Medicaid, and interest payments. Haribhakti proposes multi-year spending caps with automatic sequestration triggers. Reforms include gradually raising eligibility ages, introducing means-testing, and modernizing governance with AI and blockchain to cut costs and enforce compliance.

“Reform requires bipartisan courage and narrative change—from a consumption-focused welfare model to an empowerment-centric, sustainable safety net.”

3. Defense Rationalization and the Peace Dividend

The US defense budget exceeded $880 billion in FY2024—nearly 40% of global military spending. Haribhakti calls for zero-based budgeting to cut redundant systems and reinvest savings into climate security, digital infrastructure, and education. He emphasizes shifting toward smart deterrence and multilateral security pacts to reduce costly deployments.

“Defense cuts must be gradual and linked to diplomatic progress, else they may be perceived as retreat and invite opportunism from adversaries.”

4. Managed Inflation and Dollar Adjustment

Moderate inflation can help reduce the real debt burden but must be carefully managed. Haribhakti advocates for monetary-fiscal coordination to allow a modest inflation overshoot, paired with a soft dollar pathway tolerating gradual depreciation to rebalance trade. He emphasizes coordination with the G20 and IMF to manage global spillovers.

5. Innovation-Led Growth

Haribhakti calls this America’s true superpower. He proposes doubling federal R&D spending over 10 years, focused on AI, semiconductors, green hydrogen, quantum computing, and biotech. Immigration reform for STEM talent and regulatory sandboxes for emerging technologies are key to lifting productivity growth.

“Innovation is the only infinite lever. If mobilized deliberately, it can lift US productivity growth above 2.5%, fundamentally transforming debt dynamics.”

Beyond Slogans
“America’s fiscal challenge is not just an economic problem—it is a test of political maturity, institutional trust, and generational stewardship,” Haribhakti concludes. “This strategy does not require austerity, nor does it sacrifice the social contract. Rather, it transforms it—from a model of unsustainable consumption to one of resilient prosperity.” His message is clear: Trump’s “big, beautiful bill” won’t solve this crisis. Only a comprehensive, disciplined strategy can.

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