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The US Debt Clock - And What It Can Tell You
Today, Bruce Hosler and Jon Gay dive into the financial realities of the United States, focusing on the website USDebtClock.org. This website offers real-time data on national finances, including our ever-increasing national debt. As of this podcast, the U.S. national debt is at about $33.7 trillion, a steep increase from $27 trillion just three years ago.
We also discuss the significance of debt-to-GDP ratio. Currently, the U.S. debt-to-GDP ratio stands at an alarming 124.42%, which is far higher than it has been in past years. This ratio is concerning for several reasons, especially considering that federal spending continues to increase, contributing to a budget deficit of approximately $1.85 trillion.
The rising interest on the national debt is another red flag. At present, interest payments on the debt are about $673 billion per year, a number that could soon surpass our national defense spending. In fact, projections for 2027 show interest payments on the debt could exceed $3 trillion.
Aside from the national debt and budget deficit, we also address some of the most significant budget items in the U.S., such as Medicare/Medicaid, Social Security, and Defense spending. The Medicare Trust Fund, for example, is set to run out of money by 2028, which would require hard decisions on benefits cuts or tax increases.
What does all this mean for you? Americans should prepare for fiscal difficulties in the next five years. Tax increases may be on the horizon, especially when the Tax Cuts and Jobs Act expires in 2025. We offer advice for listeners on how to protect themselves from these looming challenges.
Resources:
US Debt Clock: https://usdebtclock.org/
Increase in Baby Boomers Article:
https://www.investors.com/etfs-and-funds/retirement/retirement-planning-reckoning-arrives-as-baby-boomer-generation-hits-peak-65/#:~:text=According%20to%20the%20U.S.%20Census,will%20be%2065%20or%20older
For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/
Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.
For more podcast episodes, visit our podcast website at https://hoslerwm.com/protectingwealthpodcast/
Limitation of Liability Disclosures: https://www.hoslerwm.com/disclosures/#socialmedia
Copyright © 2022-2025 Hosler Wealth Management LLC, All Rights Reserved. #ProtectingWealthPodcast #ProtectingandPreservingWealthPodcast #HoslerWealthManagement #BruceHosler
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By Bruce HoslerToday, Bruce Hosler and Jon Gay dive into the financial realities of the United States, focusing on the website USDebtClock.org. This website offers real-time data on national finances, including our ever-increasing national debt. As of this podcast, the U.S. national debt is at about $33.7 trillion, a steep increase from $27 trillion just three years ago.
We also discuss the significance of debt-to-GDP ratio. Currently, the U.S. debt-to-GDP ratio stands at an alarming 124.42%, which is far higher than it has been in past years. This ratio is concerning for several reasons, especially considering that federal spending continues to increase, contributing to a budget deficit of approximately $1.85 trillion.
The rising interest on the national debt is another red flag. At present, interest payments on the debt are about $673 billion per year, a number that could soon surpass our national defense spending. In fact, projections for 2027 show interest payments on the debt could exceed $3 trillion.
Aside from the national debt and budget deficit, we also address some of the most significant budget items in the U.S., such as Medicare/Medicaid, Social Security, and Defense spending. The Medicare Trust Fund, for example, is set to run out of money by 2028, which would require hard decisions on benefits cuts or tax increases.
What does all this mean for you? Americans should prepare for fiscal difficulties in the next five years. Tax increases may be on the horizon, especially when the Tax Cuts and Jobs Act expires in 2025. We offer advice for listeners on how to protect themselves from these looming challenges.
Resources:
US Debt Clock: https://usdebtclock.org/
Increase in Baby Boomers Article:
https://www.investors.com/etfs-and-funds/retirement/retirement-planning-reckoning-arrives-as-baby-boomer-generation-hits-peak-65/#:~:text=According%20to%20the%20U.S.%20Census,will%20be%2065%20or%20older
For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/
Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.
For more podcast episodes, visit our podcast website at https://hoslerwm.com/protectingwealthpodcast/
Limitation of Liability Disclosures: https://www.hoslerwm.com/disclosures/#socialmedia
Copyright © 2022-2025 Hosler Wealth Management LLC, All Rights Reserved. #ProtectingWealthPodcast #ProtectingandPreservingWealthPodcast #HoslerWealthManagement #BruceHosler