"According to new forecasts from the International Monetary Fund (IMF), America's debt-which recently surpassed $38 trillion-is set to rise faster than almost any advanced economy's, climbing from roughly 125% of GDP today to about 143% by 2030. That would push the U.S. above both Italy, which has a debt that is expected to hover near 137% of the country's GDP, and Greece, expected to fall to around 130%."
"The latest driver is President Donald Trump's "One Big, Beautiful Bill Act." Passed by Congress this summer, the sweeping legislation pairs deep tax cuts with a ramp-up in federal spending, including half a trillion for a proposed " Golden Dome" missile defense shield. Experts at the Bipartisan Policy Center estimate that the bill will cost $4 trillion over the next 10 years, with tax cuts making it more difficult to close the gap."
IMF forecasts project U.S. federal debt, recently above $38 trillion, to increase from about 125% of GDP to roughly 143% by 2030. That would place the United States above Italy (near 137% of GDP) and Greece (around 130%). The One Big, Beautiful Bill Act pairs deep tax cuts with increased federal spending, including half a trillion for a proposed Golden Dome missile defense shield. The Bipartisan Policy Center estimates the bill will add about $4 trillion over ten years. Pandemic-era relief measures totaled about $5 trillion, and the infrastructure bill amounted to $1.2 trillion. Many budget excesses were temporary, yet higher interest rates will raise costs for decades.
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