Goldman Sachs says Trump’s spending plan won’t stop the national debt from hitting ‘unsustainable’ highs not seen since World War II

Speaker of the House Mike Johnson speaks at a podium with a placard reading "ONE BIG BEAUTIFUL BILL ACT." A portrait of George Washington hangs in the background. (Credit: Kevin Dietsch—Getty Images)

• The U.S. will pay $1 trillion in interest on the $36 trillion national debt next year, more than it spends on Medicare and defense. If lawmakers wait too long to address deficits, Goldman economists warn, a historic austerity push could be needed to avert disaster.

President Donald Trump has claimed the GOP’s “Big, Beautiful Bill” will put the U.S. on a sustainable fiscal path. Economists at Goldman Sachs say it won’t prevent the nation’s debt from surpassing levels only seen during World War II.