National Debt, Interest Payments Balloon Under Latest Biden Budget Proposal

The president’s budget forecasts a $53 trillion national debt in ten years, prompting economists to doubt fiscal sustainability.
National Debt, Interest Payments Balloon Under Latest Biden Budget Proposal
President Joe Biden delivers the State of the Union address in the House Chamber of the US Capitol in Washington, D.C., on March 7, 2024. Mandel Ngan/AFP/Getty Images
Andrew Moran
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The White House projected in its latest budget proposal that the U.S. government will add trillions of dollars more to the national debt over the next decade amid sky-high annual budget deficits.

Administration officials released President Joe Biden’s $7.3 trillion budget framework for fiscal year 2025, which aims to tackle various issues, including crime, border security, and the federal deficit.
Andrew Moran
Andrew Moran
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Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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