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Budget watchdog on $38 trillion national debt: ‘It’s tough to decide what the most appalling part is of today’s announcement’
Yahoo Finance· 2025-10-23 10:49
Core Viewpoint - The escalating U.S. national debt, which has surpassed $38 trillion, poses significant concerns for the economy, particularly regarding the increasing interest payments and the debt-to-GDP ratio, which is projected to reach 156% by 2055 [2][4][6]. Group 1: Current Debt Situation - The U.S. national debt has reached $38 trillion, with projections indicating it could hit $39 trillion within months due to accelerated borrowing [5][6]. - As of September, the U.S. spent $1.21 trillion on interest payments, accounting for 17% of total federal spending for fiscal year 2025 [2]. - The average interest rate for U.S. government debt has increased from 1.61% in 2021 to 3.36% currently [2]. Group 2: Economic Implications - Economists express concern over the debt-to-GDP ratio, currently around 125%, which is expected to rise significantly, indicating that spending is outpacing economic growth [4][6]. - The Committee for a Responsible Federal Budget highlights that gross national debt is now 123% of GDP, a level not seen outside of wartime [7]. Group 3: Political Response and Proposals - There is criticism of Washington's approach to managing national debt, with calls for more responsible budgeting and spending cuts [3][10]. - President Trump has proposed unconventional methods to address the debt, including a "Gold Card" plan for wealthy immigrants, which he claims could generate significant revenue [14][15]. - The Congressional Budget Office estimates that Trump's tariff policies could reduce deficits by $4 trillion over the next decade, although the effectiveness of these measures remains debated [12][13].
X @Bitcoin Magazine
Bitcoin Magazine· 2025-10-23 09:17
RT Bitcoin Magazine (@BitcoinMagazine)JUST IN: 🇺🇸 The US National Debt just broke $38 trillion for the first time in history 👀Opt out with #Bitcoin https://t.co/EB55ueDLwu ...
X @Bitcoin Magazine
Bitcoin Magazine· 2025-10-23 08:41
JUST IN: 🇺🇸 The US National Debt just broke $38 trillion for the first time in history 👀Opt out with #Bitcoin https://t.co/EB55ueDLwu ...
X @Nick Szabo
Nick Szabo· 2025-10-23 05:38
RT Charlie Bilello (@charliebilello)US National Debt as % of GDP...1975: 33%1985: 40%1995: 64%2005: 61%2015: 103%2025: 125%2035: ? ...
X @🚨BSC Gems Alert🚨
🚨BSC Gems Alert🚨· 2025-10-23 00:43
JUST IN: 🇺🇸 US National Debt reaches new high of $38T#CRYPTO BlackRock MegaETH Solana ETF Polymarket Eric Trump https://t.co/FY49fmm69w ...
X @Watcher.Guru
Watcher.Guru· 2025-10-22 20:19
BREAKING: 🇺🇸 US national debt reaches new all-time high of $38 trillion. https://t.co/6KzFnwKctH ...
X @Tesla Owners Silicon Valley
Economic Impact - AI and robots are crucial to addressing the national debt problem [1] - The current interest payments surpass the Defense Department budget [1] Technological Advancement - AI and robotics are presented as solutions to economic challenges [1]
X @Bitcoin Archive
Bitcoin Archive· 2025-10-19 13:29
JUST IN: 🇺🇸 U.S. national debt hits a record $37.9 TRILLION 😳Might want to grab some Bitcoin, just in case it catches on https://t.co/SpFA6lieki ...
U.S. runs another huge budget deficit in 2025 — and the national debt hits another record
MarketWatch· 2025-10-16 18:25
Core Points - The U.S. government experienced a slightly smaller budget shortfall in the most recent year due to increased tariff revenue [1] - Despite the reduction in the budget shortfall, the national debt reached another record high and continues to rise without signs of slowing down [1] Summary by Categories Budget Shortfall - The budget shortfall was slightly smaller in the most recent year compared to previous years, attributed to higher tariff revenue [1] National Debt - The national debt has risen to a record high, indicating ongoing financial challenges for the U.S. government [1] - There are no indications that the growth of the national debt will slow down in the near future [1]
X @Nick Szabo
Nick Szabo· 2025-10-10 14:42
RT Peter Mallouk (@PeterMallouk)Red or Blue, the national debt only goes up. The government shutdown won’t change this. The only thing both parties can agree on is sending the bill to future generations. Next stop: $38 trillion. https://t.co/rNg6b5fcki ...