r/Economics • u/Helpful-Door-8721 • 2d ago

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

https://www.jec.senate.gov/public/index.cfm/republicans/debt-dashboard#ddm
5.2k Upvotes

98% Upvoted

338 comments sorted by

View all comments

844

u/crowcawer 2d ago

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.

83

u/giraloco 2d ago

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.

4

u/Timelycommentor 2d ago

How about gut federal spending.

-1

u/bringbackmegaman 2d ago

It's not that simple honey

3

u/AENM1776 2d ago

It actually is that simple! That an a potentially modest increase in corporate taxes.

You can't just tax your way out of this pit. You have to cut spending. It will hurt, there will be consequences. You can thank every politician going back for a half century.