Part 2/8:
As of now, the U.S. federal government grapples with approximately $36.4 trillion in debt against a GDP of $29.1 trillion, translating to a debt-to-GDP ratio of 125%. This alarming trend has been exacerbated since the pandemic when the federal government's debt was $22 trillion, and GDP was $21 trillion. The annual federal deficit now hovers near $2 trillion, which represents nearly 7% of GDP. Projections by the Congressional Budget Office (CBO) suggest budget deficits will continue to exceed historical averages for at least the next decade, raising critical questions about the economic future of the nation.