Donald Trump has repeatedly pledged to slash the national deficit and curb debt during his second term, but a sobering assessment of the nation’s financial health by one of the federal government’s premier fiscal watchdogs suggests Trump 2.0’s policies have not only collectively pushed the federal deficit significantly higher, but put the country on an unsustainable path.
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.
I’ve given up people not being able to see evidence right in front of their faces or ignoring it just because it doesn’t agree with their sense of reality it’s just so enraging exhausting I’m so tired I just can’t anymore if Republicans want to just burn everything to the ground fucking whatever. Even if dems gain control they’re not going to do anything to reverse any of the damage he’s done
No worries, the genius American people will blame this on Obama.
That’s exactly right. Assuming we get another election a dem will be in power when this shit starts hitting the fan so that’s all maga will blame it on.
How’s all that winning going for you lot? Feel great yet?
Wait until you see hyper-inflation!
“I’d like a Venti Lat-tahy”
When burning your money makes more sense cuz firewood is too expensive, that’s hyper-inflation lol.
So what they’re saying is really this is Bidens and Obamas fault? Diaper Donnie had nothing to do with this surely. lol
He’s balancing the budget. Fake news. And that ten million, he deserves it. And those children he had sex with, he only did it to get Epstein arrested. We know the snowflakes don’t like it when we get upset at them not speaking the way we want. They need a safe space from us trying turn America into a place that is secure for white christian people to never be disagreed with or competed with. The bluehairs can’t handle us wasting our gasoline we complained costs too much when we roll coal on them. Lol haha sorry libturds you can’t call us names anymore.
Trump: Wanna see some magic?
MAGA: Sure.
Trump: Look over there it’s an immigrant!
MAGA looks
Trump pickpockets
MAGA: Hey, where’s my wallet?
Trump: Oh look, it vanished and it’s now in my pocket! What a magic!
MAGA: You’re so great!
Running the US into the ground just like his businesses.
I mean let’s just put them together as what they truly are, since according to Bannon this all started from 4chan. Kekistocracy
Watch the FBI know Q was Epstein or Bannon or Moot all along
Didn’t putin do something similar while seizing power?
That’s part of the plan: https://theweek.com/business/why-trump-wants-weak-dollar
I predict the administration will take this feedback and examine ways to… just kidding, there will be deranged posts, threats, and some kind of ham handed attempt to take over or disband the CBO.
I know people in the CBO. They are… bean counters. Very very good bean counters. But, maybe even easier to fascist away than the Fed.
Doesn’t the CBO sit in the legislative branch and not under the executive though?
So they’re under the strong protection of complicit GOP and spineless obedient Dems?
Don’t forget the 1000 mentions of passing the blame to Biden and how much they have to spend to revive the country or something like that.
But I heard the SNP is $50,000! They just don’t wanna talk about that.
It’s not any more…
Blondi was talking about the Dow Jones when she was trying anything and everything to distract for her coverup on behalf of the Epstein Class.
</pedantic>
That rant was very powerful and scary. Fortunately, she was playing to Trump and not giving us her best impression of Lawyer. Unfortunately, the fact this is what the President of the USA wants to see terrifies me.
My bet is that as the economy falters further and the world abandons US treasuries, he’s going to make things even worse with QE and forcing rate cuts. Problem is that I have no idea what to do with that prediction. Plant beans and stock up on iodine?
I am investing in ways to make my future costs lower. For example, I have solar on my house. It covers about half of my bill, and will for the foreseeable future. I am looking into additions to solar, as I live in Alaska, and need to figure out winter times.
I am looking into heat pumps, they aren’t great for dead of winter, but they might eliminate shoulder season heat costs.
We buy the best quality, and locally produced food and goods we can, to help support our health and our community resilience.
Buy once, cry once, whenever we can, because replacement of stuff will be harder.
We live beneath our means, and take the money we save being boring and pay off debt, so that we truly own what is ours, because someday, paying a mortgage or for a vehicle, might be too difficult.
Practice using what you have, instead of buying stuff to solve your problem. Ingenuity is something that can be learned and practiced, but isn’t something that comes naturally to people.
Learn to make stuff, or about your surroundings. If you live in a place you can forage, learn about what you can eat in your area to supplement what you have to buy.
Plan to be a poor person, because that is a situation that is likely, and that you can survive.
Most people will not make it, if we wind up in a situation where you are dependent on what you plant, and goods you stock up on. That stuff is just prolonging the inevitable. Total independence is just not a thing most people are prepared for mentally, or have the skills to pull off. So, prepare for a future where luxuries are limited, material goods are in short supply, and you have to figure out how to make do with what you have.
For example, I have solar on my house.
I was looking at the same. Some naysayer I know was saying it would never pay back before the panels “failed”.
Of course, he was assuming that the panels would fail with 100% certainty at a certain period of time. He was also assuming that electricity costs are going to stay stagnant. If I have a battery backup installed, that obviously rejiggers things, and I’m assuming they not last very long, either at least when it comes to the timelines one talks about in regards to things like houses.
I am definitely not going to assume that, LOL. That hasn’t even been true in the past year alone, nevermind what some of the more negative predictions have for how costs will be impacted by things like data centers.
Yeah early photovoltaic solar panels weren’t great, in the same way early ev batteries weren’t great. They’ve become far longer lasting and more efficient. The listed life isn’t when it craps out, it’s when it is no longer guaranteed to be within a certain stated efficiency. Much like how phone batteries slowly lose charge capacity as cells break, that’s how solar panels are. For a long time you won’t notice but eventually it’ll break down enough it’s noticeable, and eventually before it stops producing it’ll just not be worth the space that could be used for new panels.
Added solar to my house in 2018. Took out loan for over $20k, had it paid off in a year or two thanks to the SRECs generated by the wHs of the array. Doubt anyone in US could see that now under this clean coal regime, but it could be done well before the conveyed panel efficiency bullshit that likes to be thrown around. Technology Solutions on YT had a video recently that absolutely destroyed a bunch of the common detractors that like to be thrown around.
I can link the SolarEdge page for my array a little later today to show what a 7.2 wH (I think) system produces over 6-ish years, if it helps.
I’ll have to look for that video, sounds interesting.
Yep, the ‘payoff time’ on mine is long, but I am betting they last much longer than that, and that energy prices won’t scale normally. I really want sodium ion batteries to work out, but they are sounding less promising.
We have a big natural gas shortage looming here, and most homes are heated with it. Such an obvious thing to be trying to prepare for, sure heat pumps won’t heat all winter here, but… If I can generate heat using my free electricity 2 or 3 of the months needing heat a year, that is a permanent discount, that only gets better as costs go crazy. People around me don’t really seem to be thinking this way.
I live in Colorado and so probably different heating/cooling circumstances, but people also don’t seem to be thinking about future costs of energy either.
Now, it could be that things turn around, Donvict is out of the picture, and we have a huge boom in solar and wind and through legislation or just from the market being saturated, prices drop. But given the way that things are going right now thanks to the utterly insane Republicans, all I see is those guys fighting against the future in every way possible while they stand aside and let Donvict and his criminal family just grift their way to billions of dollars of ill-gotten gains.
There is a lot of things I blame neo hitler for but “ the US on an unsustainable fiscal path” is something that has been true for decades, and is more a global consequence of capitalism itself.
Well how this is supposed to work is to borrow in bad times and pay it back in good. Clinton, to his credit did do this. Trump did the complete opposite in his first term. And the main reason we are in bad times now is because of him.
Yeah, the new deal was a prime example of it working. When there’s no work because nobody has any money to spend because there’s no work like in the great depression the government taking out loans to hire a bunch of people to improve the country in various ways is a great investment. It breaks the deadlock. But if you don’t take it back out of times where the economy can handle some slowing you just get inflation and you lose your control lever for when the economy slows down. High highs cause low lows, and while nobody likes the economy slowing down (hence why presidents stopped doing it) people prefer a stable economy with lessened booms and busts
While you’re right this unsustainable way up until now was hedged in by worries about long term stability… something the orange doesn’t concern itself about.
Yeah, he lies all the time. You idiots can’t seem to figure out what to do about it.
So fElon’s illegal and fake “doge” didn’t dismantle CBO? Seems like an oversight.
Of course the GOP will insist the solution is more cutbacks to benefits and mass deportations.
They’ve been doing the starve the beast scam since forever.
