*** Official GOP suddenly cares about the debt/deficits again thread ***

[Blake]

The $38.9 trillion national debt is costing you thousands of extra dollars per year on your mortgage. Here’s how it adds up

https://fortune.com/2026/03/11/natio...ortgage-rates/

Where's tsa to break down how good things are today under his hero?

[velik_m]

Trump drives national debt to a staggering $39 trillion, nearly double his first term

The United States’ national debt reached the highest level in history on Tuesday, adding $1 trillion in just five months.

The national debt crossed $39 trillion for the first time this week, less than five months after it first hit $38 trillion in late October. The pace of ac ulation is sparking major concerns for budget experts who are calling it “unsustainable.”

The milestone was confirmed in Wednesday’s Daily Treasury Statement, and comes almost ten years to the date of Trump’s 2016 campaign promise to eliminate the national debt within eight years, Fortune reported. Instead, the gross national debt has almost doubled since then.

...

https://www.themirror.com/news/polit...gering-1748300

[velik_m]

The Treasury just declared the U.S. insolvent. The media missed it

The U.S. government is insolvent. That’s not hyperbole — it’s the conclusion drawn directly from the Treasury Department’s own consolidated financial statements for fiscal year 2025, released last week to near-total media silence. The numbers: $6.06 trillion in total assets against $47.78 trillion in total liabilities as of September 30, 2025.

Importantly, the $47.78 trillion in reported liabilities does not include the unfunded obligations of social insurance programs like Social Security and Medicare — those are disclosed separately in the off-balance-sheet Statement of Social Insurance (SOSI).

The government’s consolidated balance sheet position, excluding the SOSI, deteriorated by nearly $2.07 trillion between FY 2024 and FY 2025, reaching a staggering negative $41.72 trillion. Total liabilities are now nearly eight times the value of reported assets. The largest drivers were a $2 trillion increase in federal debt and interest payable (now $30.33 trillion) and a $438.8 billion increase in federal employee and veteran benefits payable (now $15.47 trillion).

...

https://fortune.com/2026/03/23/us-go...al-crisis-fix/

[Winehole23]

[Winehole23]

Right-wing deficit hawks are nowhere to be found during Republican administrations

Same old borrow and spend Republicans

During his 2016 election campaign he promised to eliminate US government debt within eight years. At the time the debt was just under $US20 trillion.


Instead, by the end of his first term he had added $US8.2 trillion, lifting the total to $US28.4 trillion. Joe Biden then added $US7.1 trillion of his own, so Trump started his second term with $US35.5 trillion. (Both Trump, Mark I, and Biden, had to deal with the pandemic and its aftermath, so there’s an excuse for some of the increased spending that underlay the increase in debt).


Trump’s second term has, however – in only 14 months – seen the debt load expand by about $US250 billion a month (despite the inclusion of the tariff revenues that now have to be refunded).


At this rate, leaving aside the costs of the assault on Iran, and the tariff refunds, and the increased cost of the maturing debt, the government’s debt will break through $US40 trillion by September and be above $US41 trillion by the time Trump celebrates his second year in office.


At that halfway mark of his second term as president he would have added more than $US6 trillion to the national debt.


So much for Bessent’s much vaunted (by Bessent) 3-3-3 economic strategy.


Bessent was targeting 3 per cent growth in US GDP (it’s tracking at an annualised rate of between about 2.2 per cent and 2.4 per cent), a budget deficit of 3 per cent of GDP (it’s running at more than twice that rate) and an increase in energy production of the equivalent of 3 million barrels a day.


US oil production has been at record levels, about 400,000 barrels a day above 2024 levels, but gas production has fallen by the oil equivalent of about 2 million barrels a day.


More particularly, the energy target was supposed to deliver lower fuel costs for companies and consumers, lower inflation and interest rates and help drive higher economic growth.

https://www.smh.com.au/business/the-...23-p5rmm4.html

[Winehole23]

Interest paymentson the national debt will exceed $1 trillion this year—about 20 percent of all tax collections.

https://reason.com/2026/03/31/10-yea...t-has-doubled/

[Winehole23]

debt/GDP went *down* under Joe Biden

[Winehole23]

the Bush and Trump tax cuts were fiscally irresponsible

[Winehole23]

it wasn't spending that did us in fiscally, it was tax cuts and wars of choice

[Winehole23]

screwy CBO accounting lowballs the fiscal picture

Replace those unrealistic assumptions, and the projected 30-year debt surges from CBO's 175% of GDP all the way to 243%.

That means Washington's 30-year borrowing spree leaps from $138 trillion to $200 trillion.

https://www.jessicariedl.blog/p/fede...is-60-trillion

[Winehole23]

for the last 46 years, Republicans ave been running up debt/deficit with tax cuts and wars of choice, then blaming Dems for the fiscal mess they made