Top Economist Warns US Is ‘Wildly Irresponsible’ With $1.99 Trillion Deficit as Interest Costs Top Defense Spending
Justin Wolfers, a prominent economist, issued a stern warning on Monday regarding the current trajectory of United States fiscal policy. During an appearance on MS Now, Wolfers characterized the federal government's spending habits as wildly irresponsible. He pointed out that the nation is currently maintaining its largest deficit outside a recession or war. According to Wolfers, the current administration of the country's finances suggests a lack of restraint that deviates from historical norms for periods of relative stability.
Fiscal 2026 Deficit Data
Recent figures released by the Treasury Department underscore the scale of the situation Wolfers is highlighting. For the 2026 fiscal year, the United States recorded a deficit totaling $1.992 trillion. This massive gap between spending and revenue has pushed
Source: benzinga.com · 2026-10-20