Libertarian Party Calls For National State Of Emergency Declaration As Debt Surpasses $36T
United States’ $36 Trillion in National Debt Endangers the Future of the Republic
Washington, DC, June 3, 2025 — The Libertarian National Party and Chair Steven Nekhaila are calling for President Donald Trump and members of Congress to declare an immediate State of Emergency over the spiraling national debt, which has just surpassed $36 Trillion dollars as of June, 2025. There is no greater State of Emergency than the national security, economic, and personal impacts of a debt burden this large on the future solvency and very existence of the Republic.
As of the time of this writing, every citizen of the United States of America holds a debt burden of over $106,000 as their share of the national debt. This is unsustainable, cruel to individuals, and unbelievably dangerous as it risks the imminent collapse of the Republic, as evidenced by countless empires that have failed under similar undermining of solid currency and exponential deficit spending.
“As the national debt crosses $36 trillion, even major bond investors and Wall Street institutions are sounding the alarm,” said Libertarian National Committee Chair Steven Nekhaila. “The American people have long been told that the dollar is backed by the ‘full faith and credit’ of the United States government. In truth, it is backed only by a printing press, political dysfunction, and the fragile illusion of global trust.”
The foundation of this crisis traces back to 1971, when President Nixon closed the gold window, effectively ending the Bretton Woods system and unpegging the dollar from any hard asset. Since then, the U.S. has relied on unchecked monetary expansion to finance endless wars, inflate speculative bubbles, and grow a sprawling bureaucracy that offers diminishing returns to its citizens.
“Inflation is not just bad policy – it is theft,” Nekhaila added. “It is a hidden tax on the working class that erodes savings, wages, and purchasing power, all while enriching the politically connected.”
With the rise of the BRICS bloc and a growing chorus of nations seeking alternatives to the U.S. dollar, the international monetary order is facing unprecedented challenges. America’s fiscal behavior, once tolerated due to the dollar’s reserve status, is now driving the world toward multipolar alternatives—and the U.S. toward economic irrelevance.
The Libertarian Party calls for an immediate course correction, including:
- The immediate declaration of a State of Emergency regarding the national debt
- A return to a sound monetary standard, such as gold or commodity backing
- A full and public audit of the Federal Reserve
- Immediate steps toward balancing the federal budget, and a “balanced budget” Constitutional Amendment requirement
- The downsizing of government to its essential, constitutional functions
“There is no law of history that exempts the United States from the fate of every other empire that overspent, overreached, and collapsed,” said Nekhaila. “If we want to preserve American prosperity and sovereignty, we must break from the bipartisan consensus of debt and decline. The time for bold, libertarian reform is now.”