If only Taylor Swift were dating the national debt

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If only Taylor Swift were dating the national debt.

This month, the world's attention turned to Las Vegas, as the region hosted its first Super Bowl. Despite some national naysayers, it was an unbridled success. Las Vegas accommodated and entertained fans and celebrities alike. About the only thing that disappointed was the low-scoring start to the game.

Once again, Las Vegas showed it is the entertainment capital of the world.

But entertainment doesn't last forever. Football fans enjoyed the game and left to return to their normal lives. The Kansas City Chiefs celebrated their victory in style, but the off-season is already here. Las Vegas officials handed off Super Bowl hosting duties to New Orleans.

This is a normal rhythm of life. Along with fun, there are responsibilities and hard decisions. One of the marks of adulthood is balancing those competing interests. The American public isn't showing this maturity. Tens of millions of people know the latest details of Swift — prominently featured on Sunday's TV broadcast — and her boyfriend, Chiefs tight end Travis Kelce. But they have little interest discussing something much more important to all Americans — the national debt.

Last week, the Congressional Budget Office released its forecast of America's fiscal future. The situation is bleak. This fiscal year, the deficit is projected to hit $1.6 trillion. For context, the total U.S. budget didn't even reach that number until the late 1990s. The annual deficit is projected to continue increasing and reach $2.6 trillion by 2034.

Debt held by the public will soon hit 100% of gross domestic product. At this pace, it will reach 116% of GDP in 2034, "the highest level ever recorded.” Even the massive financial strains of World War II didn't put the country on such poor fiscal footing.

The deficit isn't growing because taxes are too low. Federal government revenues are currently at 17.5% of GDP. After a one-year dip, that's expected to rise to around 17.9%.

No, America is bleeding red ink because its political class is addicted to spending other people's money. "After 2028, growth in spending on programs for elderly people and rising net interest costs drive up outlays, which reach 24.1% of GDP by 2034,” the report notes.

That gap, which is more than 6% of GDP, is a major problem. It should be at the top of the public's mind, pressuring our elected leaders to propose and vigorously debate various solutions.

Instead, too many apathetic Americans ignore it, caught up in the latest pop culture phenomenon. Perhaps someone should pay Swift to wear a pin with the national debt clock on it.

(COMMENT, BELOW)

Previously:
• Biden bows to Putin, environmentalists
• Defenders of 'democracy' want Voter ID off ballot
• 'No one is safe if they had any hand in' Oct. 7
• Biden infrastructure bill: A failure to launch
• US government revenues hit record highs
• Why Biden can't convince voters he's beat inflation
• Why Biden can't convince voters he's beat inflation
• Biden needs to stop the mixed messages
• The hating class as brave defenders
• Blinken only emboldens Hamas terrorists
• White House green Slush fund throwing around cash
• Biden immigration policies souring even Dems
• Dems fret as the bad news mounts for Biden
• Billions in coronavirus money still sitting around
• Senate delegation reassures Israel; where's the House?
• Senate delegation reassures Israel; where's the House?
• Chicago takes victim blaming to an absurd new low
• The utter failure of money to improve education
• Group identity drives American division
• The downside of Biden's drug price control scheme
• WARNING: Here's why top insurers are fleeing
• 'They even laughed in my face'
• Red states power Biden's economy
• 'If you have private insurance, you can' … OOPS!
• Ignoring the Bill of Rights when its convenient
• Hunter cops a plea --- but the Biden probes continue
• Will we every truly know the depth of pandemic fraud?
• Hello there, Big Brother! Please, come right in
• Its not perfect, but it's a start on immigration reform
• IRS wants to branch out
• Gas stove ban conspiracy theory comes true
• Biden's busy bureaucrats beef up regulatory state
• Don't even dare think of emulamating New Yawk!
• Where have all the nation's college students gone?
• Soft-on-crime policies hit hard wall of political reality
• Joe Biden and Monty Python is no comedy
• Global warming was supposed to wreak havoc on polar bears. Looks like someone forgot to tell the polar bears