- Dec 3, 2006
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Neither political party has done anything at all worthwhile to reduce the national debt. The problem about the Social Security trust fund has been mostly ignored for decades. No one political party or politician can be blamed for that mess.‘The fiscal trajectory is not sustainable’: CBO warns about the highest debt in U.S. history as Trump adds $1.4 trillion to 10-year deficit
In its latest budget and economic outlook, the Congressional Budget Office (CBO), a nonpartisan federal agency, revised its cumulative deficit projection for the 2026–2035 period upward by $1.4 trillion compared with its forecast from just a year ago.
“Our budget projections continue to indicate that the fiscal trajectory is not sustainable,” CBO Director Phillip Swagel said in a statement, noting the agency’s latest projections. Under laws passed in Trump’s first year back in office, the national debt in 2030 will surpass the historic high of 106% of GDP, which it reached in 1946. Meanwhile, the balance of Social Security’s Old-Age and Survivors Insurance Trust Fund will be exhausted in 2032, one year earlier than the CBO projected last January.
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