The Congressional Budget Office calculates that the US federal debt will double in the next 30 years to 195% of GDP, with the interest on the debt quadrupling, Politico reports.
Under President Trump, US deficits has averaged $2 trillion per year, with the current fiscal year deficit already at $3.1 trillion, more than double the previous record set in FY2009.
US debt stands at $26.8 trillion, or $81,000 per resident. The debt have increased by $7 billion since Trump assumed office. During the 2016 presidential campaign, Trump declared he would eliminate the entire federal debt in eight years. He could possibly increase it by 50% in just four years.