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The Latest Breaking News from National Debt

Elon Musk says the only thing that can solve 'insanely high' $38 trillion national debt crisis is AI and robotics—but it would cause 'significant deflation'

After clashing with Trump on spending, Musk argues AI and robotics are the only path to easing record U.S. debt costs—and may even trigger future deflation.

Fortune

Rachel Reeves pledges to support working families and reduce waiting times with looming Budget

The chancellor is widely expected to raise levies on Wednesday to help close a multi-billion pound spending gap

The Independent UK

Bad news for Trump $2,000 checks as Senators balk at price tag and adding to national debt

President has touted massive financial giveaway as the state of economy and affordability issues damage his approval rating

The Independent UK

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'Bond King' Jeffrey Gundlach warns of the next financial crisis: 'It has the same trappings as subprime mortgage repackaging in 2006'

The billionaire founder of DoubleLine Capital is also convinced the $38 trillion national debt will be addressed before 2030: "something has to happen."

Fortune

The $38 trillion national debt 'milestone' and the accounting mirage

I ran for Congress on the idea that the national books of the U.S. government were not being kept in a transparent, modern accounting framework. I won.

Fortune

Elon Musk Warns ‘The Only Way to Get Us Out of the Debt Crisis’ and ‘Prevent America from Going Bankrupt is AI and Robotics’

Elon Musk argues that America’s mounting national debt is unsustainable under current political constraints and asserts that only rapid economic growth driven by AI and robotics can avert fiscal crisis.

Barchart

America's path out of $38 trillion national debt crisis likely involves pushing up inflation and 'eroding Fed independence,' says JPMorgan Private Bank

The government could "tolerate stronger growth and higher inflation, allowing real interest rates to fall and the debt burden to shrink over time," JPMB says.

Fortune

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US Debt Of $38 Trillion Now A 'National Security Crisis,' Warns Top Economist, Another Blames Political Polarization: 'Neither Party Is…'

Richard Haass, the president of the Council on Foreign Relations, and other economists have sounded the alarm about the U.S. national debt, stating that it poses a significant threat to the country’s security and global standing.

Benzinga

Legendary DC diplomat feels 'like Paul Revere' about the $38 trillion national debt: 'The crisis is coming!'

Richard Haass has spent a lifetime monitoring global crises. Now he says America’s most dangerous one is coming from inside the house.

Fortune

Your political polarization is the reason for our $38 trillion national debt, top economist says: 'it's deeply debilitating' for 'consensus and stability and productive policy results'

“Every day that passes makes me feel the situation is more urgent,” Barry Eichengreen told Fortune.

Fortune

'We are guilty of spending our rainy-day fund in sunny weather': Top economists unite to urge action on $38 trillion national debt

"The day will come when the boiling water finally kills the frog," an essay published by the Peter G. Petersen Foundation said.

Fortune

You Paid For It. Now He'll Pay You Back? The Hidden Cost Behind Trump's $2,000 Dividend

Donald Trump's promised $2,000 "dividend" for Americans faces major financial and legal hurdles, with experts warning that tariffs cannot cover the cost and could instead deepen national debt.

International Business Times

$2,000 Trump Dividend: What Is The True Tax Cost Of The Payout?

Donald Trump's promised $2,000 "dividend" for Americans faces major financial and legal hurdles, with experts warning that tariffs cannot cover the cost and could instead deepen national debt.

International Business Times UK

Goldman CEO David Solomon warns 'there will be a reckoning' around the $38 trillion national debt

On the debt growing from $7 trillion to $38 trillion in just five years, Solomon said "it doesn't seem like we have the ability to pull it back."

Fortune

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Benzinga

Elon Musk Sees AI, Robotics Growth As 'Only Way' To Manage Debt While Trump Plans To Use Tariff Revenue To Pare It Down

As the U.S. national debt mounts to $38 trillion, President Donald Trump and Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk have offered different visions for managing the nation’s fiscal crisis.

Fortune

Trump punches new $35 billion hole in national debt with deal for Medicare to cover your Ozempic

America's waistline may shrink, but its national debt will swell.

Fortune

Trump’s tariff revenue is soaring off a ‘significant increase,’ budget watchdog says—but the $38 trillion national debt still looms

Despite this surge in tariff revenue, the deficit still totaled $1.8 trillion, or roughly 6% of GDP. And if the Supreme Court strikes the tariffs down …

Evening Standard

Threat of income tax rise grows as Rachel Reeves gives clear sign she will break Labour manifesto pledge

Chancellor rolls ground for tax rises in unusual pre-Budget speech at Downing Street

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Fortune

Goldman Sachs CEO says AI-induced growth offers a ‘path out’ of America’s $38 trillion debt crisis

“The path out is a growth path,” Solomon said. “The difference between compounding growth of 3% and 2% is monstrous in terms of dealing with this issue.”

GOBankingRates

If Trump Sells Your Student Loan Debt, Would That Help or Hurt You?

Approximately 45 million Americans owe, cumulatively, $1.6 trillion in student loan debt to the federal government. That’s a staggering amount of money. For context, America’s ballooning national debt -- the largest in the world -- is approximately $38 trillion.

Benzinga

Elon Musk Warns Social Security Could Run Out By 2032: 'We're Going Bankrupt...'

During his latest appearance on The Joe Rogan Experience, Tesla Inc. (NASDAQ:TSLA) Elon Musk warned that the U.S.'s ballooning national debt and looming Social Security shortfall could push the country toward bankruptcy.

The Guardian - UK

The UK bond markets have become a political trap that strangles public spending. But there’s a way out

With living standards falling and the far right on the rise, the chancellor has the power to make decisions, not simply accept diktats from the markets, says lecturer in political economy Sahil Dutta

Fortune

Governments are likely to pillage the $80 trillion Great Wealth Transfer to help balance their national debt burdens, says UBS

“It seems unrealistic to suppose that governments will just sit idly by as this wealth moves around. We would expect governments to attempt to mobilize that wealth to help fund their debt,” UBS chief economist Paul Donovan said.

Benzinga

The $38 Trillion U.S. Debt Mountain – Every American Owes $110,649 Now

American debt hit a record high of $38 trillion earlier this week. Here's a look at how quickly the debt is growing and how much every American would owe today.

Fortune

Budget watchdog on $38 trillion national debt: ‘It’s tough to decide what the most appalling part is of today’s announcement’

The Committee for a Responsible Federal Budget is glum: “The reality is that we’re becoming distressingly numb to our own dysfunction.”

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