US National Debt-Bipartisan Problem

Investment Analysis Clubs Macro Economic Trends and Risks
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Debt Tracking Report for December 16th, 2024
The gross national debt is currently $36.13 trillion.
When President Biden and Vice President Harris took office total gross debt was $27.75
trillion, meaning he has increased the national debt by $8.38 trillion.

  • Trump leads recent presidents with $12 trillion in combined debt added, followed by Obama at $9 trillion and Biden at $8 trillion.

  • Biden’s single term added more debt than Trump’s entire first term, placing him third only because Trump’s two terms are combined.

  • Mandatory spending and interest payments now consume over 60% of the federal budget, with interest costs alone exceeding Pentagon funding.

Is it possible that the above becomes an issue in the 2028 presidential election?
And does it matter? The electorate seems to ignore the issue via not inflecting punishment on prolific spenders.

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There is no longer any party that even pays lip service to the debt.

It is unlikely to get any attention until it is a crisis, and then it may be too late to avoid a major depresssion.

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If it weren’t for Republican presidents and their illegal wars, the debt would be nowhere near where it is currently. Not to mention that Bush left Obama with a massive economic mess to clean up which added to the debt under Obama’s reign even though it was caused by Bush.

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