The national debt is projected to soar to $64 trillion within a decade, and one hedge fund manager is using that forecast to level a serious accusation at President Donald Trump.
“DOGE Failed. Trump is a Liar,” hedge fund manager Spencer Hakimian wrote on X, sharing links to Politico coverage of the latest federal budget projections.
His post came after the Congressional Budget Office released a new long-term fiscal outlook estimating that federal debt will continue climbing sharply over the next 10 years.
According to the CBO, the national debt, which already exceeds $38 trillion, is on track to reach $64 trillion by 2036.
The report projects that the federal government will run a $1.9 trillion deficit this fiscal year. That annual shortfall is expected to grow steadily, hitting $3.1 trillion by 2036.
Debt held by the public is also projected to rise significantly compared with the size of the economy.
The CBO estimates that federal debt will increase from 101% of gross domestic product this year to 120% within a decade. That would exceed the previous record of 106% set in 1946.
Policies Driving The Deficit
At the center of the forecast are policy decisions made under Trump and a Republican-controlled Congress.
The CBO estimates that the tax-and-spending package Republicans enacted last summer, along with Trump’s immigration policies, will increase deficits by trillions of dollars over the next decade.
The agency also projects that Trump’s tariffs will reduce deficits by roughly $3 trillion over that same period.
But those gains are effectively offset by the added costs of other policies, leaving overall debt on an upward path.
One big reason the gap keeps widening is interest. The more the government borrows, the more it has to pay just to cover interest on that debt.
At the same time, spending on safety-net programs continues to increase.
The CBO noted that last summer’s Republican megabill is expected to boost economic growth in the near term.
However, that growth will be partially offset by the economic effects of tariffs and stepped-up immigration enforcement.
Political Fallout And Sharp Criticism
Hakimian’s post did not provide a detailed breakdown of the budget numbers. Instead, it framed the issue in stark political terms.
By writing “DOGE Failed. Trump is a Liar,” he linked the rising debt projections to what he sees as broken promises.
The reference to DOGE appears to criticize a broader push tied to Trump-era fiscal and economic initiatives.
In Hakimian’s view, the outcome does not match the rhetoric.
What The CBO Actually Does
The CBO is Congress’s nonpartisan scorekeeper and does not make policy recommendations.
Its role is to analyze how existing laws and enacted legislation affect spending, revenues, and deficits.
The latest report reinforces a long-running concern in Washington about structural deficits.
Even when the economy is growing, the government is still expected to spend far more than it brings in. Over time, that gap adds up and pushes the debt higher.
Supporters of Trump’s policies say faster growth, lighter regulation, and aggressive trade measures will strengthen the economy and increase federal revenue.
Critics see it differently. They argue that tax cuts paired with higher spending, without clear offsets, will deepen deficits and result in even larger interest payments.
The numbers in the CBO report do not assign blame. They present a fiscal path based on current law and enacted policies.
Still, the political implications are clear. A projected $64 trillion debt figure gives ammunition to critics who say the country is moving in the wrong direction fiscally.
Hakimian’s message reflects that frustration in its most direct form.
What Happens Next
As the 2036 horizon approaches, the question facing lawmakers is whether they will adjust spending, increase revenues, or accept a continued rise in debt levels.
For now, the CBO’s forecast suggests that without significant changes, deficits will keep growing and the national debt will continue to climb.