US Debt Could Hit $50 Trillion by 2030 as Annual Deficits Stay Near $2 Trillion

3 articles · Updated · Fox News · Aug 26

$40 trillion in federal debt could swell to $50 trillion by 2030 if yearly deficits keep running around $2 trillion to $2.5 trillion, according to the report's reading of Congressional Budget Office projections.
CBO projects a roughly $1.9 trillion deficit in 2026 and more than $23 trillion in cumulative deficits from 2026 through 2035, leaving Washington borrowing even as it faces no politically viable deficit-cutting plan.
Net interest costs are projected to rise from 3.3% of GDP in 2026 to 4.6% by 2036, increasing pressure on the budget as debt-service spending crowds out other priorities.
Social Security's main trust fund is projected to exhaust reserves in 2032, covering about 78% of scheduled benefits without action, while Medicare's hospital insurance fund is projected to run short in 2033 and cover about 89% of costs.
The report argues the debt path could eventually mean higher taxes, benefit cuts, later retirement ages or slower growth, with broader risks including higher interest rates, weaker private investment and potential Treasury-market stress.