The total U.S. national debt currently stands at $36.2 trillion, driven by consistent federal spending exceeding revenues for decades. Recent months under President Trump's leadership have witnessed increased federal spending cuts aimed at mitigating this debt, which have sparked both support and dissent among different demographic groups. For the first time post-WWII, interest payments on debt will surpass defense spending, with alarming forecasts indicating these payments could reach $1.8 trillion by 2035. Despite drastic cuts in various programs, there are no plans to increase federal revenue, raising concerns about future fiscal stability.
In fiscal 2024, for the first time in the post-World War II era, interest payments on government borrowing exceeded the U.S. defense budget.
President Donald Trump has taken aggressive measures to reduce government spending through downsizing and eliminating funding for certain programs, aiming to cut spending by $1 trillion per year.
While cuts to federal spending have gained popularity among voters, significant public opposition remains from certain demographic groups regarding the approach to debt reduction.
Projected borrowing costs are set to rise dramatically, with estimates reaching $1.8 trillion by 2035, indicating an unsustainable financial trajectory for the U.S.
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