The US Congress and President Trump need to get excessive expenditures and borrowing under control. This is perhaps one of President Trump's most important jobs during his second term.
Total net interest payments will reach $1 trillion by next year or 2027. For fiscal year (FY) 2024, the total federal expenditure was approximately $6.8 trillion.
"America’s national debt has ballooned to an enormous $38 trillion this year, which is 18% higher than the total GDP of the country. The only other time our debt has been higher relative to GDP was right after World War II. ..."
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