As of today, the US national debt is very close to $37 trillion. [1] By the American system of reckoning, a trillion is a thousand billion. Please check my math as it is not my strongest subject. However, if I am correct, and if the United States reduced the national debt by a billion dollars per year, it would take about 37,000 years to pay it off.
Estimates vary, but on April 28, 2025 CBS News reported “Elon Musk's Department of Government Efficiency, or DOGE, says it has saved $160 billion through its push to root out wasteful or fraudulent government spending.” [2] DOGE does not, however, control the federal spending.
The constitution gives the US Congress the power of the purse. The executive branch must, eventually, spend the money appropriated by congress. It is hard to sort through all of the mumbo-jumbo surrounding the “Big Beautiful” spending bill that is under consideration, but it does not look like it will provide the amount of spending cuts DOGE recommended. Elon Musk does not think it will, and he is being pretty vocal about his displeasure. Nevertheless, President Trump will probably sign off on it because it includes tax cuts and other provisions he wants.
Regardless, it doesn’t matter because neither the DOGE cuts, or the savings provided by the “Big Beautiful Bill” will fix the problem. The annual budget deficit in FY 2024 exceeds the spending cuts they provide.
“In FY 2024, the federal government spent $6.75 trillion and collected $4.92 trillion in revenue, resulting in a deficit. The amount by which spending exceeds revenue, $1.83 trillion in 2024, is referred to as deficit spending.” [3]
If the Unites States does not stop the growth of our national debt the possibility, (or perhaps the probability), exists that we will be forced to default and even revalue our currency. The economic consequences of these actions would be catastrophic.
Our currency is not backed by precious metals or any other thing of value, except the “good faith and credit” of the US Government. Most of the world’s currencies are the same. Further, the value of other nations’ money is based on the dollar. Additionally, our market is a major economic engine driving the world economy. In short, if we crash there is a good chance we will take a lot of other nations’ economies down with us.
I am not a fan of Elon Musk, but he is a brilliant businessman. The opinions of knowledgeable people must be taken seriously. It is apparent that Mr. Musk is very concerned about the budget deficit and our national debt. We all should be.
One of the characteristics of addiction is that the addict continues abusing the source of the addiction after experiencing negative consequences. Our federal government is addicted to spending. Congress is primarily responsible, but the chief executive is complicit.
Frankly, it may already be too late to remedy budget deficits and the national debt. The legal action and constitutional amendments needed begin with the addicted party – the US Congress.
Prayer is not the least we can do. It is the most we can do. Please pray for the United States of America.
Then step out in
faith. Write, email, or call your
Senators, Congressional Representatives, and the White House. Vote for candidates who seem to recognize the
enormity and seriousness of this situation.
God bless you.
