National Public Radio (NPR) highlights the colossal budget deficit of the United States.

The national debt is so enormous that the US is forced to borrow even more money simply to pay the interest, economist Mike Walden explains on Fox. Meanwhile, TYT highlights the shaken investor confidence in US bonds.

Highest in History

Western media are commenting on the record growth rate of the US national debt, which has exceeded $40 trillion for the first time in history.

The Wall Street Journal (WSJ) reports that the event marked a new milestone for a country struggling to get its finances under control.

At the same time, the WSJ acknowledges that the amount of national debt significantly exceeds the annual US GDP.

‘This means that even if all U.S. income went toward debt repayment for a full year, the federal government would still be left with multi-trillion-dollar debt,’ the report says.

The newspaper discusses the unique nature of the situation with the American government debt.

‘$40 trillion is a large figure that is likely to at least briefly draw attention to what economists generally agree is an unsustainable fiscal trajectory,’ the paper says.

CNN’s commentary

‘The United States is driving itself into an ever-deeper debt hole,’ the news site writes. According to CNN, interest payments are already costing Washington more than the entire Pentagon budget.

On the brink of crisis

Meanwhile, CNBC points out that the US national debt has more than doubled since 2016. ‘Ten years ago, the debt was at $19.4 trillion.

NPR attributes the rapid pace to federal spending exceeding revenue by more than $2 trillion a year.

Worse, the deficit is widening further after the Supreme Court struck down many of President Donald Trump’s tariffs. This forces the Treasury to repay more than $100 billion in illegally collected revenue.

America heading for the cliff

‘We’re heading full speed toward a cliff, and we refuse to turn the wheel,’ says Margaret Spellings, a former Bush administration secretary.

According to some experts, at this rate, the national debt will reach $50 trillion in just six years, CNN reports.

‘The $40 trillion mark was reached earlier than expected just a few years ago. In May 2023, the Congressional Budget Office projected that the US would exceed this threshold in fiscal year 2028.’

A family of four owes $16,000 a year just in interest

As Benzinga reports, Republican Congressman Thomas Massie said that interest payments are having a significant impact on the wallets of ordinary citizens.

‘$4,000 a year for every American. That’s how much interest we pay annually on our debts to banks and other governments,’ the online resource quotes Massey as saying on X’s social media account. ‘A family of four owes $16,000 a year just in interest.’

Big trouble ahead

Meanwhile, American economist Peter Schiff said in an interview with The Street that the US economy is in ‘big trouble, much bigger than is generally believed.’

‘We are on the brink of not only a financial crisis, but also a US dollar and sovereign debt crisis,’ Schiff said.

Perpetual Motion Machine

Economist Mike Walden, speaking on Fox, drew attention to the ‘irony’ of the current situation, where the need to pay interest on the national debt has become one of the main factors forcing the US government to borrow money from abroad. Let readers know what you think

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