"As America soars past $39 trillion in debt, we must recognize this alarming rate of growth and the significant financial burden we are putting on the next generation. Borrowing trillion after trillion at this rapid pace with no plan in place is the definition of unsustainable."
"Our moral duty to the taxpayer requires us to make our Government leaner and more accountable. We're going to do more with less, Trump said at the time, issuing an executive order directing OMB Director Mick Mulvaney to submit a comprehensive plan to reorganize Executive Branch departments and agencies."
The United States national debt surpassed $39 trillion for the first time, reaching this milestone less than five months after hitting $38 trillion in October 2024. Budget watchdogs and economists across the political spectrum characterize this accumulation rate as unsustainable. The debt has roughly doubled since January 2017, when it stood at $19.9 trillion, contradicting earlier promises to eliminate it. At the current trajectory, projections indicate the debt will reach $40 trillion before the fall elections. Michael Peterson, CEO of the Peter G. Peterson Foundation, emphasizes that borrowing trillions without a comprehensive plan represents an alarming financial burden on future generations.
Read at Fortune
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