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US Debt Nears WWII Levels Amid $38 Trillion Crisis
U.S. debt at $38.5 trillion equals GDP, with interest costs surpassing $1 trillion annually, risking multiple fiscal crises without deficit reduction, says the Committee for a Responsible Federal Budget.
- Over the past four months, the U.S. government added $696 billion to the national debt, including $94 billion borrowed in January, according to Congressional Budget Office figures.
- Lawmakers' use of PAYGO has been regularly bypassed, and more than 60 senators in November quietly forgave an estimated $3.4 trillion in deficits from Republicans' One Big Beautiful Bill Act.
- The national debt now totals $38 trillion, equaling about 100% of Gross Domestic Product, while federal net interest payments exceeded $1 trillion in fiscal year 2025, about 18% of revenue.
- The longer lawmakers wait, Maya MacGuineas warned Monday, the higher the costs for Americans and the risk of a financial crisis if deficits are not addressed.
- Rising interest costs and deficits risk fueling inflation, slower growth and national security strains, while tax-law changes have reduced corporate income tax collections by $22 billion, limiting policy makers' options.
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46 Articles
InsideNoVA.com
Report: U.S. added nearly $700 billion to national debt in four months
(The Center Square) – The U.S. government added $696 billion to the national debt over the past four months, borrowing $94 billion in the month of January alone, the Congressional Budget Office reports.
U.S. added nearly $700 billion to national debt in four months, congressional budget office warns
Alarming number further heightens the risk America will experience some kind of financial crisis unless deficits are tamed, Committee for a Responsible Federal Budget's Maya MacGuineas says.
Outlook for the Budget and the Economy
CBO's Budget and Economic Outlook, typically produced in January each year and updated in August, includes an economic forecast and projections of spending and revenues under current law—known as baseline projections—over the next 10 years. CBO also updates its budget projections each spring in conjunction with its analysis of the President's budgetary proposals. By showing outcomes if current laws generally remained in place, the baseline proje…
US Set to Exceed World War II Debt Levels by 2029, CBO Projects
The US government is on track to surpass record debt levels set after World War II in just four years, the Congressional Budget Office warned on Friday — even as it lowered somewhat its deficit projections for the next decade.
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