Headline: Commentary, national debt The Treasury just declared the U.S. insolvent. The media missed it By Steve H. Hanke and David M. Walker March 23, 2026, 11:14 AM ET Steve Hanke is a professor of applied economics at The Johns Hopkins University and a member of the Board of Directors at the Federal Fiscal Sustainability Foundation. He is the co-editor, with Barry W. Poulson and John Merrifield, of Public Debt Sustainability: International Perspectives (Lexington Books, 2022). David M. Walker is the former Comptroller General of the United States and the Chairman of the Board of Directors at the Federal Fiscal Sustainability Foundation.