Column: Washington's fiscal dysfunction is becoming a global risk

A column warns that Washington’s fiscal dysfunction is increasingly a global risk, not just a U.S. bookkeeping issue. With the national debt surpassing $40 trillion, the article argues the problem is driven by widening structural deficits and rising debt-servicing costs. It cites expectations that the federal deficit will reach about $1.9 trillion in 2026 (5.8% of GDP), and that the deficit could grow to $3.1 trillion by 2036. Congressional Budget Office projections also show public debt rising from roughly 101% of GDP today to 120% over the next decade, with net interest payments exceeding $1 trillion in 2026 and approaching $2.1 trillion by 2036.