(The Center Square) – The U.S. government added $696 billion to the national debt over the past four months, borrowing $94 billion in the month of January alone, the Congressional Budget Office reports.
The number further heightens the risk that America will experience some kind of financial crisis unless deficits are tamed, president of the Committee for a Responsible Federal Budget Maya MacGuineas warned.
“If we continue to borrow at this rate, it leaves us on the path to another year of a $1.8 trillion or higher deficit,” MacGuineas stated Monday. “If these estimates aren’t alarming enough, the national debt continues to climb toward record levels – equaling about the size of the entire U.S. economy today.”
Due to excessive borrowing, the $38 trillion national debt stands at 100% of Gross Domestic Product. The highest percentage the national debt has ever made up of GDP was 106%, and that was immediately following World War II.
The CBO report shows that increased government spending is not the only culprit for high deficits.
Republicans’ budget reconciliation bill – the “One Big Beautiful Bill Act” – boosted tax deductions for corporations making certain investments. The change has so far reduced corporate income taxes collected by $22 billion.
“Unless lawmakers want record-high debts and deficits to be our norm, both sides of the aisle must come together to address our unsustainable borrowing,” MacGuineas said. “The longer lawmakers wait, the higher the price for Americans.”
Federal spending on debt interest payments alone hit a record in fiscal year 2025, with the U.S. government’s net interest payments exceeding $1 trillion for the first time, about 18% of annual revenue.
The consequences of high deficits and debt include rising inflation and interest rates, slower economic growth, and even national security.
Although laws like PAYGO are supposed to help keep deficits under control by penalizing spending that is not offset, Congress regularly bypasses the rules.
More than 60 senators in November quietly forgave an estimated $3.4 trillion in deficits from Republicans’ budget reconciliation bill, The Center Square reported.
Government Printing of money to cover adminsrative and political mistakes is the true hidden cause of devaluation of our money and inflated prices. This must be OUTLAWED for the “Taxation WITHOUT Representation” that it is, and was the major cause of our American revolution in 1776. Most of the people responsible are not even elected officials, but Presidential or political party in power planted party appachicks like the Fed fools, implanted to destroy America from within, whose false printed temporary prosperity is a long term ticking financial time bomb that sooner or later must explode.
“If we continue to borrow at this rate, it leaves us on the path to another year of a $1.8 trillion or higher deficit,” MacGuineas stated Monday. “If these estimates aren’t alarming enough, the national debt continues to climb toward record levels – equaling about the size of the entire U.S. economy today.”
We need laws to force gov to pay down the debt and balance the budget, as everyone of us must do.
AND PAY NOTHING TO congress, TILL THEY GET the debt paid off.
We the people in the U.S. are insanely taxed and retaxed on EVERYTHING we buy but even that is not enough for our treasonous politicians ruling the government. These traitors have borrowed 38.6 TRILLION dollars and put our country 38.6 TRILLION dollars in debt. This will destroy our country if not stopped and paid off.
Interest payments on the U.S. national debt are projected to exceed $1 trillion in fiscal year (FY) 2026, driven by high interest rates and a $38 trillion-plus total debt load. This cost has tripled since 2020, with net interest payments reaching $970 billion in FY 2025, exceeding spending on defense or Medicare.
I forget which economist article i read back all the way in just 2000, but i remember him saying, EVEN IF WE TAXED EVERYONE at 90% of their total wealth, and used that to pay off all our debt (which back in 2000 was just over 5.7 tril), WE STILL COULD NOT pay it all off..
NOW add 30 more trilion to that.
This is the fault of WE the PEOPLE voters, by not holding our elected officials accountable for their treasonous actions!!!!
If politicians ALL politicians do NOT FOLLOW the law. Thy should be put in prison. Politicians should NOT be above the law!