RT – February 14, 2018: In the recent budget proposal the mounting US debt is likely to grow by another $10 trillion in the next decade. According to the White House Office of Management and Budget, the national debt will hit $29.9 trillion by 2028. The country’s current debt stands at a record $20.6 trillion – its highest level since shortly after World War II.
If current trend stands, widening budget deficits will increase that debt sharply over the next 30 years, with the deficit reaching 150 percent of GDP in 2047, says Congressional Budget Office (CBO).
Under the new budget, President Donald Trump is requesting a record $686 billion for the Pentagon – a 13-percent increase compared to the 2017 budget. And said that: “We’re going to have the strongest military we’ve ever had, by far,” said Trump, adding that “we took care of the military like it’s never been taken care of before” in the current budget.