The U.S. government is technically bankrupt, with its liabilities far exceeding its assets, and its fiscal condition continues to deteriorate. Since 1961, the federal government has achieved a budget surplus in only five years. According to the latest monthly budget report from the Congressional Budget Office (CBO), in just the first seven months of the 2026 fiscal year—all within Trump's presidency—the deficit has already reached $955 billion. At this pace, the full-year deficit will surpass $1.9 trillion, exactly matching the CBO’s prior annual forecast. Currently, 22.2% of U.S. tax revenue is used to pay interest on government debt. Interest payments so far this year have reached $628 billion—equivalent to nearly $3 billion per day. The CBO projects that by 2036, the share of tax revenue used for interest payments will rise to 29.2%. This means that over the next decade, American taxpayers will be using nearly one-third of their tax dollars to "pay the bill" for past government borrowing and spending. The issue of federal deficits has long drawn public attention, leading to a federal budget process that has remained in a constant state of patchwork fixes. However, various measures—including the most recent resolution proposed by Congress—carry no legal obligations and include no penalties, making them easily disregarded. Without constitutional-level constraints, it is unlikely that the root causes of the debt crisis can be effectively addressed.
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Original article: toutiao.com/article/1865318427438090/
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