Report: U.S. National Debt to Hit Staggering $53 Trillion by 2035, Exceeding GDP

America’s national debt is on track to explode from $37 trillion today to $53 trillion by 2035—120% of GDP—according to a new report from the Committee for a Responsible Federal Budget. This projection exceeds previous estimates by $1 trillion.

The numbers are staggering: yearly deficits will grow from $1.7 trillion to $2.6 trillion, totaling $22.7 trillion over the next decade. Most alarming is the debt service burden—annual interest payments will nearly double from $1 trillion to $1.8 trillion by 2035.

The fiscal deterioration stems largely from July’s “One Big Beautiful Bill Act,” which permanently extended the 2017 tax cuts at a cost of $4.1 trillion over ten years. While the White House promotes average household tax savings of $3,752, budget watchdogs warn the fiscal path is unsustainable. With Republicans planning another budget bill, both the CBO and CRFB are urgently calling for deficit reduction measures.