Staff Reports
The Congressional Budget Office just did something we should all pay attention to: it laid out the numbers for the next decade and they are not pretty. The CBO’s report, The Budget and Economic Outlook: 2026 to 2036, shows a nearly $1.9 trillion deficit this year, interest costs on the debt climbing above $1 trillion, and public debt already over 100% of GDP. In plain English: the country is spending like there’s no tomorrow while promising more goodies to win votes. Spoiler alert — there will be a tomorrow, and it will be expensive.
CBO report lays out the mess
The CBO numbers are clear and simple to read. The federal deficit is about $1.9 trillion for fiscal 2026. Net interest on the debt is now roughly $1 trillion and rising fast. Debt held by the public is about 101% of GDP this year and could hit roughly 120% by 2036 under current law. CBO Director Phillip L. Swagel framed the report as a warning: rising interest costs and big mandatory spending programs are driving the trend. These are not abstract charts for wonks — they are a budget path that will shape every household’s future.
Campaign season: checkbooks are out
Republicans and Democrats both have ideas that add to the bill
Welcome to campaign season, where promises are cheap and checks don’t have to clear. Both parties are racing to offer popular new spending. The GOP push to lift Pentagon spending toward an eyebrow-raising $1.5 trillion topline would add hundreds of billions more unless offset. Democrats keep selling new benefits and programs that voters like. The CBO baseline is the sober scorekeeper that shows how those promises add up. Yet party leaders from President Donald Trump to House Speaker Mike Johnson and House Democratic Leader Hakeem Jeffries act as if tomorrow’s bill will pay itself. It won’t. Asking voters to pick winners without telling them who will pay is politics as usual — expensive and cowardly.
Interest is the new stealth tax
Here’s the part no candidate wants to explain: interest payments on the national debt are eating up the budget. As net interest climbs, it crowds out everything else — roads, research, even defense programs if the math gets tight. The CBO shows this is the main driver of future deficits. That means more of the federal budget will go to pay bankers and bond markets instead of paying teachers or fixing bridges. It’s a stealth tax on future budgets and on economic growth, because money spent on interest can’t be used for investment.
Wake up, voters — demand fiscal sanity
We can choose a different path, but it takes honesty. Cut the gimmicks. Stop pretending every new program is free. Use the CBO report as a litmus test in campaign debates: if a plan doesn’t show where the money comes from, it fails. Voters deserve leaders who will make hard choices, not just winners and losers in campaign ads. Until that happens, enjoy the show — the checkbooks are out, and the rest of us get to pay the tab later. Popcorn optional, fiscal common sense mandatory.
