The U.S. national debt just crossed $39 trillion. On its current path, it will hit $79 trillion by 2056.
The Congressional Budget Office projects debt will break the World War II record by 2030 - just four years away. Over the next ten years alone, debt climbs another $20 trillion.
Annual deficits are getting bigger, not smaller. The government will spend $3 trillion more than it collects within a decade. Interest payments on existing debt already crowd out other spending.
In 2016, Trump promised to eliminate the national debt within 10 years. A decade later, it has doubled instead.
Congress will eventually face a choice: raise taxes, cut spending, or accept rising interest costs. Right now it's doing none of these. Eventually, creditors will demand higher returns to hold U.S. debt.
