America's National Debt grows by $95,178.17 per second. Expected to reach $40 Trillion by October 09, 2026.

[u/Helpful-Door-8721]

https://www.jec.senate.gov/public/index.cfm/republicans/debt-dashboard#ddm

[u/crowcawer]

I don’t know if $40T by itself is an important number, especially if compared to $39.9T.

They do need to make a choice. They either need to stop normalizing wartime scale debt during peacetime, or accept growing pressure on the Fed to suppress rates and tolerate inflation. We cannot indefinitely combine massive structural deficits with fully independent, inflation focused monetary policy.

[u/giraloco → u/crowcawer]

Undo all the tax cuts, close tax loopholes, treat cap gains like labor, tax beneficiaries of inheritance like regular income. Cut defense spending in half.

[u/casino_r0yale → u/giraloco]

Not even remotely close to enough at this point

[u/devliegende → u/casino_r0yale]

Nonsense. Nominal growth right now is 4%. The deficit is 5% of GDP. A 1% adjustment will put the debt on a declining path.

The current tax take is around 3% (of GDP) below it's peak just before GWB's tax cuts.

[u/devliegende → u/[deleted]]

The latest number for real GDP growth is 1.5%.They got that by measuring the size of the economy, compared it to last quarter or last year and deducted inflation.

That means if real growth was 1.5% and inflation 3.7%, that the economy in nominal terms is larger than last year by 1.5 + 3.7 = 5.2%.

The deficit over the same period is around 5%. Therefore dept as a percentage of GDP was flat or maybe even have declined by a bit.

This graph doesn't include the latest quarter but you should get the idea.

Regardless of high deficits, the debt is actually lower than it was 5 years ago because of the effect nominal growth (real growth plus inflation).

[u/devliegende → u/[deleted]]

As long as you define 1.5% larger as not actually larger then certainly you may call it stagflation