As national debt accelerates to $38 trillion, watchdog warns it's 'no way for a great nation like America to run its fin

[Historic NY]

As national debt accelerates to $38 trillion, watchdog warns it’s ‘no way for a great nation like America to run its finances’

The U.S. national debt has surged past $38 trillion, according to the U.S. Treasury Department, just two months after surpassing previous forecasts to reach $37 trillion in August. This means the federal debt rose by $1 trillion in a little over two months, which the Peter G. Peterson Foundation calculates is the fastest rate of growth outside the pandemic.

“Adding trillion after trillion to the debt and budgeting-by-crisis is no way for a great nation like America to run its finances,” Peterson said. “Lawmakers should take advantage of the many responsible reforms available that would put our nation on a stronger path for the future.”

https://www.yahoo.com/finance/news/national-debt-accelerates-38-trillion-200749759.html]

Lowering the debt by billions will no longer have an effect on the interest burned

[Irish_Dem]

1. Trump's plan is to bankrupt the US.

Declare a default and stiff all the investors?

[Vinca]

4. That's his MO. Wash, rinse, repeat.

[Irish_Dem]

6. And of course he is a mob boss who will get very rich from this scheme.

[Lovie777]

2. At least the wealthy got their tax cuts.............

[democrank]

3. Our national debt is obscene.

The interest payment level is mind-boggling. Perhaps my frugal nature is too old-school but over $38,000,000,000,000 in debt seems way, way over the edge.

I have no idea how to fix it, but at the very least we must get dead serious about meeting it head on.

[no_hypocrisy]

5. Treasuries will be worthless

[BH liberal]

7. The defense budget...

is one of the worst drivers of the debt escalation. The known obscene amounts being spent yearly do not even include money for dark ops that the government doesn't disclose.

[Historic NY]

8. Net interest was the third-largest spending category in FY25

https://www.pgpf.org/programs-and-projects/fiscal-policy/monthly-interest-tracker-national-debt/]

[Champp]

9. Republicans have trashed America and it's economy

They couldn't even manage a 7-11. But they will sure as hell grift their sleazy $$$$$$$