economy
All the Money in the World, and Then Some
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TL;DR
- U.S. public debt has exceeded 100% of GDP, reaching $31.27 trillion against a GDP of $31.22 trillion.
- Unfunded liabilities for Social Security and Medicare, plus state and local pensions, add an estimated $88 trillion to $1.5 trillion respectively, bringing the total to approximately $120 trillion.
- The Congressional Budget Office forecasts federal deficits to increase from $1.9 trillion in FY2026 to $3.1 trillion by FY2036.
- Federal debt held by the public is projected to rise from 101% of GDP in 2026 to 120% in 2036.
- Rising net interest costs are a significant driver of future deficit increases.
- Federal outlays are projected to increase from 23.3% of GDP in 2026 to 24.4% in 2036, primarily due to Social Security, Medicare, and interest costs.