CBO Warns of Record U.S. Debt as Trump Administration Pushes Tax Cuts

The Congressional Budget Office projects $23.9 trillion in new debt over the next decade, excluding costs of extending Trump-era tax cuts.

The U.S. budget deficit is projected to reach $1.9 trillion in 2025, with federal spending estimated at $7 trillion for the fiscal year.
The Congressional Budget Office (CBO) forecasts the national debt to rise by $23.9 trillion over the next decade, potentially exceeding $59 trillion by 2035.
Key drivers of rising debt include increased Social Security and Medicare costs, higher interest payments, and potential extensions of Trump-era tax cuts expiring in 2025.
Republicans are negotiating to extend the 2017 tax cuts, which could add over $4 trillion to the deficit, while seeking spending cuts to offset costs.
Experts warn that continued borrowing and fiscal imbalances could strain the economy, as bond yields rise and concerns grow over the sustainability of U.S. debt levels.