The United States has a launch issue: debt. Neither reliable person nor entity, including the Treasury Department nor the Fed, dispute this reality. The U.S. government is huge, currently accounting for 120% of GDP, a amount that is close to twice the level of sustainable debt many institutions believe.

Our deficit is at wartime levels, twice the historical average as a percentage of GDP, and the interest on debt has now exceeded spending on defense, which is not a healthy indicator for a country and its fiscal stability.

The main reason for this problem is Congress and its years of reckless overspending. Unfortunately, it solves the problems they helped create in their hands.

If debt is not cut soon, we will head to the economy for a "heart attack"

Currently, Congress is working on “a big and beautiful bill” to address taxes and spending. So far, what we have seen is still too big and has not solved the key problems in front of us. Frankly, the new bill needs "fat" (humorous nickname President Donald Trump) to use for weight loss drugs, such as Ozempic). Without it, we will push the country to a fiscal cliff.

Our financial problem is not one of the tax collections, but rather a spending issue. In the last fiscal year, the federal government's "revenue" was nearly $5 trillion. This is more GDP than every country on earth except the United States and China. Still, that's not enough to cost the government $5 trillion add Another $2 trillion (about 6-7% of GDP) is then needed.

After decades of irresponsibility, we are dangerously approaching that fiscal cliff. I'm worried about the prospect of the debt spiral. This is where our interest in debt drives the deficit (as it has). The supply of Treasury debt has increased as the government needs to fund the deficit. This then increases the Treasury yield, which increases our interest cost. This increases the deficit, which again has the same effect, while the vicious cycle continues.

Sean Hannity: Continuing resolution is “all, unlimited disaster”

This is due to the debt service costs, with debt expenses of $1.2 trillion by the end of 2024, plus the right to exceed the taxes collected before any other expenses are considered.

But while everyone knows that our debt situation is a problem, there seems to be no political will to solve the problem.

In a recent X post, Stephen Moore has advised on economic issues, Posted"You need a microscope to see the Republican spending cuts! Over the next decade, the FBI's federal spending hit an astonishing $89.3 trillion. The House plan cuts only $1.2 trillion in price to a total of $88.1 trillion, cutting 1.5% cuts by 1.5%, which is a laugh, it's a laugh, it's a smile, it's a smile, it's a smile, it's a $4 billion increase in the price, it's an influential $5.2 billion. The Republican "Hungry Diet" is still reducing our expenses with $10 trillion spending -- starting with $7 trillion last year, up just 40% instead of 50%.

This does not bode well for our financial future.

Shocking government report shows that the national debt crisis is getting worse under Biden

There are several ways the Trump administration can buy some time for us, patch our fiscal base and strengthen our future. But none of these choices make sense if Congress cannot be tried for a long time.

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Consider the hard work. We know that the program has identified a lot of waste, fraud and abuse. While this is great in theory, we need to see Congress translate it into specific long-term spending reductions.

Our financial problem is not one of the tax collections, but rather a spending issue. In the last fiscal year, the federal government's "revenue" was nearly $5 trillion. This is more GDP than every country on earth except the United States and China.

Given that spending has not been weakened while Republicans control Congress, our long-term fiscal outlook is grim.

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We need a small, beautiful bill, even better, even better, a bunch of small, focused bills, and have a real plan to reduce spending and make sure Congress can’t continue to cover our debt, deficit and interest expenses.

If we don't give the bill and our spending "fat shots", our country will die of fiscal obesity.

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