AuAltinavcisiPrecious metals news and analysis

Metals markets

Report: U.S. National Debt to Hit Staggering $53 Trillion by 2035, Exceeding GDP

Report: U.S. National Debt to Hit Staggering $53 Trillion by 2035, Exceeding GDP

America’s national debt is on track to explode from $37 trillion today to $53 trillion by 2035—120% of GDP—according to a new report from the Committee for a Responsible Federal Budget. This projection exceeds previous estimates by $1 trillion.

The numbers are staggering: yearly deficits will grow from $1.7 trillion to $2.6 trillion, totaling $22.7 trillion over the next decade. Most alarming is the debt service burden—annual interest payments will nearly double from $1 trillion to $1.8 trillion by 2035.

The fiscal deterioration stems largely from July’s “One Big Beautiful Bill Act,” which permanently extended the 2017 tax cuts at a cost of $4.1 trillion over ten years. While the White House promotes average household tax savings of $3,752, budget watchdogs warn the fiscal path is unsustainable. With Republicans planning another budget bill, both the CBO and CRFB are urgently calling for deficit reduction measures.

Eight more from the desk

Other dispatches from the bullion wire.