The multi-trillion-dollar question for which no one has a good answer is whether or when excessive U.S. deficit spending will create unmanageable and destructive levels of debt. Given the magnitude of current and projected data on these budget issues, the numbers can be confusing.

For fiscal 2025, the Treasury estimates a federal budget of $7 trillion in outlays and $5.1 trillion in revenues with a $1.9 trillion deficit. The current national debt is about $37 trillion with a year-end GDP estimated at $30.5 trillion. About $30 trillion of that $37 trillion is publicly held.

On the current path, U.S. debt should grow by $22 trillion over the next decade. By 2035, budget outlays are estimated at $10.7 trillion, with $8 trillion in revenues with a $2.7 trillion deficit.

The total national debt would be about $59 trillion with $52 trillion of that held publicly. In 2035, interest payments will double to $1.9 trillion and 17-20 percent of outlays, up from today’s $950 billion interest payments that are 14 percent of outlays.

Of........

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