National Debt 2025
It is June of 2025, and there is a bill in Congress called the One Big Beautiful Bill Act, which was adopted by the House of Representatives in May and is targeted for Senate approval by July 4. The Congressional Budget Office has estimated it would add as much as $2.8 trillion to the debt over 10 years. I have written in the past about the looming debt crisis Has A Deficit of $1 Trillion Been Worth It? (2009) $23,000,000,000,000 (2019) We have no longer have deficits of $1 trillion, instead averaging over $2 trillion annually, with a record deficit exceeding $4 trillion during the COVID-19 pandemic. The debt is well beyond $23 trillion from just six years ago, having soared to $36 trillion in 2025. Before we talk about solutions, lets see what we can learn from history. A Brief History Lesson A New Nation Pays Off Her Debts The United States as a fledgling nation had $75 million in war debt from the American Revolution (1776-1783) and a Gross ...