Is America Going Broke? An Ivy League Economist on Why Government Debt Is Surging

Even if the “Trump boom” continues, current tax and spending patterns indicate that deficits will continue rising, approaching $1 trillion in two years and steadily rising afterward, on and on into the future. On the current path, the outstanding public debt will rise by one third to $20 trillion just five years from now.

Source: Is America Going Broke? An Ivy League Economist on Why Government Debt Is Surging - Foundation for Economic Education

So what is the source of all this debt? Is it massive new military spending by Trump? Is it the Trump tax cuts? Nope... It's out of control unfunded entitlement spending. The fact of the matter is that other spending pales in comparison and the tax cuts are barely a drop in the bucket. Without changes the problem is going to very rapidly get larger. This is something that is going to have to be addressed in the not too distant future or we are all screwed.