Doge Clock...

National Debt on Track to Reach Record High in Just Four Years​

Last Updated January 17, 2025

Today, the Congressional Budget Office (CBO) updated their budget and economic projections, emphasizing a fact that has been known for some time: The United States is on an unsustainable fiscal course marked by large and rising deficits....

1. The national debt is expected to exceed its record high in just four years.​

Debt held by the public was 98 percent of gross domestic product (GDP) in 2024. However, by 2029, the structural mismatch between spending and revenues, along with higher interest payments, will cause federal debt to rise above the nation’s all-time high of 106 percent, which was reached just after World War II. CBO projects that debt will continue rising, reaching 118.5 percent of GDP by 2035.

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But ...but ... @Damocles thinks things are going so well, and doge is cutting so much spending, he is already celebrating the checks he is counting on each citizen getting as the US gov't is rolling in so much surplus.

How can this be? Are you telling me Damo is a not so useful idiot?

Well between the increasing interest rates the tariffs mess is causing and the gutting of revenues via tax cuts, there is also this...

"...While DOGE purports its mission is to improve government efficiency and work toward addressing the nation's fiscal challenges, a new Center for American Progress analysis finds that the Trump administration's cuts to IRS enforcement could cost the federal government nearly $1 trillion in lost net revenue over the next 10 years..." cite
 
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