As national debt nears $39 trillion and Trump promises to balance budget, Americans spend more on interest payments than on defense

In his address to a joint session of Congress in March 2025, President Donald Trump set a bold goal for the U.S. government.

Congressional Budget Office Ups Federal Deficit Forecast

The Congressional Budget Office expects the U.S. federal deficit to rise more over the coming years than previously expected, a release by the agency showed Wednesday.

Come 2030, the US deficit will be worth 5.9% of GDP—more than spending on Social Security, and equal to major health programs

Come 2030, the annual deficit will be worth roughly 5.9% of GDP, on par with provisions set aside for health and Social ...