Donald Trump has repeatedly pledged to slash the national deficit and curb debt during his second term, but a sobering assessment of the nation’s financial health by one of the federal government’s premier fiscal watchdogs suggests Trump 2.0’s policies have not only collectively pushed the federal deficit significantly higher, but put the country on an unsustainable path.
In its latest budget and economic outlook, the Congressional Budget Office (CBO), a nonpartisan federal agency, revised its cumulative deficit projection for the 2026–2035 period upward by $1.4 trillion compared with its forecast from just a year ago.
“Our budget projections continue to indicate that the fiscal trajectory is not sustainable,” CBO Director Phillip Swagel said in a statement, noting the agency’s latest projections. Under laws passed in Trump’s first year back in office, the national debt in 2030 will surpass the historic high of 106% of GDP, which it reached in 1946. Meanwhile, the balance of Social Security’s Old-Age and Survivors Insurance Trust Fund will be exhausted in 2032, one year earlier than the CBO projected last January.
It’s exactly what Warren Buffett said about him; an interviewer in 2016 asked: “What do you think about Trump winning the presidency, he’s a businessman”
Buffett laughed and says: “Yeah, every business he has run, he run straight into the ground.” (Still thinking it was a theoretical question)
Reporter goes: “Yes, but he is President Elect”
Buffett’s smile just kinda melted as he realized the new “business” he would be running, was the U.S.
(The full interview is difficult to find, so I found a short one minute snippet remaining on YouTube)