The national debt is now larger than the US economy. It crossed 100 percent of gross domestic product (GDP) at the end of March, with signs that it might cross the record of 106 percent of GDP reached immediately after World War II.
The federal government currently spends $1.33 for every dollar collected as revenue.
The budget deficit is projected at $1.9 trillion this year.
"The higher we allow our debt to grow, the more we erode our own prosperity and that of future generations. Rising debt compromises affordability by slowing income growth, pushing up interest rates, and increasing inflationary pressures. Debt squeezes our budgets with massive interest costs.” Rising debt also exposes the US to "challenges from geopolitical rivals."
The soaring debt was driven significantly by Trump's One Big Beautiful Bill.
According to the Congressional Budget Office and other sources, the One Big Beautiful Bill, one of the most expensive pieces of legislation in US history, includes $368 billion in new spending, and a reduction in federal revenue of more than $4.5 trillion.
That Trump. What a responsible steward.
US national debt over 100% GDP, concerns rise
The national debt just crossed $39 trillion—almost doubling since Trump vowed to erase it | Fortune
@big-ryan That's why traditional conservatives hate him. FWIW, under the CBO and OMB projections for 2023, we'll be at 127%!
Time to cutback on the amounts spent towards old people
Time to cutback on the amounts spent towards old people
reading all of this ai shit it's going to revolutionize medicine. early detection. treatment. etc. the olds are going to be getting older in the years to come
Military accounts for the biggest spending and Trump is asking for $1.5 trillion for the military in 2027 (a 40-42% increase from 2026).
Maybe DOGE could determine how wisely we are spending money on our dept of war and what we can do to cut expenses and get better bang for the buck.
I don't think that's true any more. I believe that debt service has surpassed military spending in the last couple of years. May we all live in interesting times.
I don't think that's true any more. I believe that debt service has surpassed military spending in the last couple of years. May we all live in interesting times.
Hickory can't read, just ignore him.
Maybe DOGE could determine how wisely we are spending money
DOGE was a sideshow and just another opportunity for Musk to demonstrate how much of an asshole he is.
DOGE's impact on the national debt was 0.18%.
@hurryinghoosiers I suspect DOGE started finding plenty of issues with our spending... and that's why Musk abruptly exited stage right, and spent some time being pretty sour about it. Its ALLL good until someone questions you know who...
The national debt is now larger than the US economy. It crossed 100 percent of gross domestic product (GDP) at the end of March, with signs that it might cross the record of 106 percent of GDP reached immediately after World War II.
The federal government currently spends $1.33 for every dollar collected as revenue.
The budget deficit is projected at $1.9 trillion this year.
"The higher we allow our debt to grow, the more we erode our own prosperity and that of future generations. Rising debt compromises affordability by slowing income growth, pushing up interest rates, and increasing inflationary pressures. Debt squeezes our budgets with massive interest costs.” Rising debt also exposes the US to "challenges from geopolitical rivals."
The soaring debt was driven significantly by Trump's One Big Beautiful Bill.
According to the Congressional Budget Office and other sources, the One Big Beautiful Bill, one of the most expensive pieces of legislation in US history, includes $368 billion in new spending, and a reduction in federal revenue of more than $4.5 trillion.
That Trump. What a responsible steward.
US national debt over 100% GDP, concerns rise
The national debt just crossed $39 trillion—almost doubling since Trump vowed to erase it | Fortune
The national debt is now larger than the US economy. It crossed 100 percent of gross domestic product (GDP) at the end of March, with signs that it might cross the record of 106 percent of GDP reached immediately after World War II.
The federal government currently spends $1.33 for every dollar collected as revenue.
The budget deficit is projected at $1.9 trillion this year.
"The higher we allow our debt to grow, the more we erode our own prosperity and that of future generations. Rising debt compromises affordability by slowing income growth, pushing up interest rates, and increasing inflationary pressures. Debt squeezes our budgets with massive interest costs.” Rising debt also exposes the US to "challenges from geopolitical rivals."
The soaring debt was driven significantly by Trump's One Big Beautiful Bill.
According to the Congressional Budget Office and other sources, the One Big Beautiful Bill, one of the most expensive pieces of legislation in US history, includes $368 billion in new spending, and a reduction in federal revenue of more than $4.5 trillion.
That Trump. What a responsible steward.
US national debt over 100% GDP, concerns rise
The national debt just crossed $39 trillion—almost doubling since Trump vowed to erase it | Fortune
Good one!
But, sadly, that's not true.
@jdb olds and medicine. i've looked at tens of thousands of medical bills. medicare/medicaid pays a fracture of bills. so as much as the price of care is elevated by way of gouging, administration, salaries, benefits managers, and on and on i don't believe attacking health costs will have much of an impact on medicare/medicaid. hell in the world of pi law it's a super lien. they get paid back from settlements. long short i don't know how we fix ss and medicare/medicaid. ss to remain solvent raise caps/eligiblity but that's really just kicking the can and not a fix
I don't think that's true any more. I believe that debt service has surpassed military spending in the last couple of years. May we all live in interesting times.
Hickory can't read, just ignore him.
JDB doesn't know how to refrain from being an asshole, just ignore her/him/it
I don't think that's true any more. I believe that debt service has surpassed military spending in the last couple of years. May we all live in interesting times.
I wasn't counting debt service, which is addressing money already spent.
