- Under Biden’s budget plan for fiscal 2024, the gross national debt would surge to nearly $51 trillion as of the year 2033 — up from its current level of roughly $31.5 trillion.
- The federal debt as a share of US gross domestic product (GDP) would swell to a record 110% by 2033, up from 98% this year – shattering a dubious record that has stood since the end of World War II.
- The portion of debt held by the American public would jump $19 trillion, to $43.6 trillion, over the 10 years.
- A ballooning federal debt means more taxpayer dollars will go toward footing the bill for interest payments on past spending rather than funding necessary projects in the future.
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‘Carlson Comes Up Short On Jan 6 Bombshells’: The Hill
WASHINGTON, DC - MARCH 29: Fox News host Tucker Carlson discusses 'Populism and the Right' during the National Review Institute's Ideas Summit at the Mandarin Oriental Hotel March 29, 2019 in Washington, DC. Carlson talked about a large variety of topics including dropping testosterone levels, increasing rates of suicide, unemployment, drug addiction and social hierarchy at the summit, which had the theme 'The Case for the American Experiment.' (Photo by Chip Somodevilla/Getty Images)
