The Congressional Budget Office released its latest projections, and the numbers should terrify everyone — regardless of party affiliation.
The federal deficit for 2026: $1.9 trillion. That's not total debt. That's just how much more we're spending than we're taking in this year alone. And it's getting worse — the CBO projects deficits will grow to $3.1 trillion annually by 2036.
Federal debt is projected to reach 120% of GDP by 2036 and 175% by 2056. Interest payments on the debt are now one of the largest line items in the federal budget, consuming money that could go toward infrastructure, education, defense, or reducing the tax burden on working Americans.
Here's what frustrates us most: this isn't a surprise. The CBO has been publishing these warnings for years. And every year, both parties ignore them. Republicans cut taxes and pretend the revenue will materialize through growth (it doesn't). Democrats propose new programs and pretend they can be funded by taxing the rich (the math doesn't work). Both sides authorize spending they know we can't afford because the consequences won't hit until they're out of office.
This is the ultimate bipartisan failure. And it's the single biggest reason the Common Sense Party exists.
We believe the budget must balance. We support a balanced budget amendment because neither party has the discipline to do it voluntarily. We support rescission authority to attack wasteful spending. We support a line-item veto amendment so the President can strike pork without vetoing entire bills.
The CBO just showed us the iceberg. We're still heading straight for it. The question is whether we have the common sense to turn the wheel.