"The White House of 2036 will have a mammoth task on its hands: It will need to rustle up more than $2 trillion a year to pay the interest on its national debt burden, approximately 5% of the nation's entire economy. According to the latest projections from the Congressional Budget Office (CBO), the U.S. government will continue to run a sizeable and growing deficit over the next decade."
"In 2026, the shortfall will stand at about $1.8 trillion, or 5.8% of GDP. Come 2036, that will have ballooned to $3.1 trillion, or roughly7% of the American economy.Projections of increased borrowing year after year-irrespective of whichever party is in the White House-means the U.S. will also increase the burden of interest payments needed to service its debt. At the moment, America's national debt stands at $38.59 trillion, with Treasury data showing the government has paid out $427 billion in interest this fiscal year alone."
CBO projections show the U.S. will run large and growing deficits next decade, with a $1.8 trillion shortfall (5.8% of GDP) in 2026 growing to $3.1 trillion (about 7% of GDP) by 2036. The national debt stands at $38.59 trillion and current interest outlays total $427 billion this fiscal year. Annual interest payments are projected to rise to $2.14 trillion by 2036, exceeding current defense spending and representing roughly 5% of GDP. Federal revenues are expected to grow from about $5.6 trillion in 2026 to over $8.3 trillion by 2036. Tariffs are estimated to reduce deficits by roughly $3 trillion but are inflationary.
Read at Fortune
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