Debt Exceeds 100% of GDP
CBO.gov | Feb 2026 | CBOThe Federal Budget Deficits are large by historical standards. The deficit totals $1.9 trillion in fiscal year 2026 and grows to $3.1 trillion in 2036. Relative to the size of the economy, the deficit is 5.8 percent of gross domestic product (GDP) in 2026 and increases to 6.7 percent in 2036. Deficits averaged 3.8 percent of GDP over the last 50 years (see Chapter 1).
More like see Chapter 11.
Debt held by the public rises from 101 percent of GDP in 2026 to 120 percent in 2036, well above the previous record of 106 percent just after World War II.
Outlays are large by historical standards—and growing. They total 23.3 percent of GDP in 2026, exceeding their 50-year average of 21.2 percent. After being adjusted for shifts in the timing of certain payments, outlays remain at about that level through 2028 but then grow steadily, boosted by rising spending on mandatory programs and increasing net interest costs.
So, two more years to continue to party hearty.
Suggestions: no more high-speed trains. And cut back on Mamdani-tory spending.
