According to the Congressional Budget Office, the United States' national debt is approaching the level of 1946. The agency estimates this threshold will be exceeded in 2030.
The current total US debt is approximately $39.9 trillion. This includes securities held in federal accounts, which were not included in the WWII-era debt calculations. However, according to CBO projections, this figure will reach 101% by the end of fiscal year 2026. It will then surpass the 1946 peak of 106% and grow to 120% by 2036.
However, the current US debt situation differs from that of WWII. According to sources, in 1944, when wartime production peaked, expenditures amounted to 42.7% of GDP. By 1949, after military demobilization ended, they had dropped to 14%, helping to reduce the country's debt burden. Currently, no one can pinpoint an end date for US spending problems. According to the latest projection from the Congressional Budget Office, in 2036, expenditures will be 24.4% of GDP and revenues will be 17.8%.
The spending increase is linked to growth in benefit payments and healthcare costs as the population continues to age. The number of Americans aged 65 and older is nearly three times greater than it was 50 years ago. Their number will grow by 15% between 2027 and 2036.
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