The national debt’s 20-year deadline and baby boomers’ spending problem: ‘a lot of incentive for every generation to try to pass a big bill’

Economist Kent Smetters warns the U.S. federal debt is on a 20-year trajectory toward an unsustainable 210% of GDP, driven by disproportionate spending on older Americans. Retirees receive 38.6% of federal outlays, while spending per older person is 10x higher than for younger individuals, creating intergenerational fiscal challenges.