Maya MacGuineas: America's fiscal crisis is worsening. Everyone should take note.

Maya MacGuineas is president of the Committee for a Responsible Federal Budget. She recently wrote an opinion piece for MSNBC, an excerpt of which is below.

There are two fundamental fiscal truths: America has a debt problem, and dealing with the debt will not be easy.

So far, our leaders are not coming to terms with the facts. 

The numbers speak for themselves. In the fiscal year that just ended on Sept. 30 — the last date for which the federal government was funded — the deficit was largely unchanged from its fiscal 2024 level: $1.8 trillion. In other words, despite the Trump administration’s focus on cost cutting in the federal government and all the additional revenue coming from tariffs, the deficit is still as large as it was a year ago.

Read the entire piece here.

Published works by members or staff of the Committee for a Responsible Federal Budget do not necessarily reflect the views of all members or staff of the Committee.