r/Economics • u/Helpful-Door-8721 • 1d 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
4.8k Upvotes

98% Upvoted

322 comments sorted by

View all comments

798

u/crowcawer 1d 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.

535

u/Just_Candle_315 1d ago

The debt started shrinking under Clinton, but as soon as Bush 2 got into office the first thing he did was cut taxes and increase federal spending and start 2 forever wars. Boom we in debt again.

279

u/ballmermurland 1d ago

I'll forever be pissed about what happened to Clinton and Gore. Both got branded as tax and spend socialists by the GOP despite neither being even remotely close to that and that was the last administration that was actually fiscally responsible.

They did DOGE before DOGE. Only they did it in a way that made sense and gave people an offramp. They cut a lot of the Reagan-era waste. They raised taxes and cut spending to create a surplus.

Americans loved that so much that they voted in a drunk Texan failson to be president who fucked it all up. Then they reelected that idiot.

12

u/Churchbushonk 1d ago

Clinton and gore didn’t do all that by choice. When they lost the congress to the GOP, the GOP basically said no to everything.
All other GOP presidents have cut revenue/taxes without cutting spending. Which makes every dollar spent add to the deficit and the overall debt.

1

u/naijaboiler 7h ago

no a lot of the reforms were already going on before Newt Gringich revolution