U.S. National Debt Now Exceeds Total Annual Output of Economy | News on The 700 Club - May 1, 2026

Added: 2026-05-08

[00:00:03]Well, welcome to the 700 Club. I've been warning about this for two decades.

[00:00:08]America's national debt now exceeds the total annual output of our economy.

[00:00:15]Every hour, the debt grows by $180 million.

[00:00:21]That's $5 billion a day, and it's approaching 40 trillion.

[00:00:29]Well, the United States government seems caught in what some are calling a debt-driven doom loop, and experts warn the situation could turn very bad very quickly. Dale Hurd reports.

[00:00:42]30 NFL stadiums filled to the top with stacks of $100 bills. That still wouldn't be enough to hold the $39 trillion national debt. For that, you would need seven more stadiums full of $100 bills. To make matters worse, the Penn Wharton budget model warns the national debt is actually closer to 100 trillion. Half of each dollar the government borrows now goes to pay interest on the debt, close to 1 trillion per year. As government spending keeps going up, the federal debt is growing faster than ever, but it seems few in Washington have the political courage to do anything about it. This institution has failed.

[00:01:26]Uh we have failed our country.

[00:01:28]Uh we have jeopardized our economy, our security, our leadership in the world, and worst of all, we have we have compromised on our children's future.

[00:01:37]And yet, what politicians in Washington would be willing to essentially sabotage their re-election chances by voting to rein in the major drivers of the debt, Social Security, Medicare, and Medicaid?

[00:01:50]These three programs are the entire budget problem, um and unless we address them, it's pretty much impossible to balance the budget or achieve some level of fiscal sustainability. Meanwhile, the Congressional Budget Office warns the federal debt is on track to hit $150 trillion within 30 years, equivalent to more than a million dollars per household. Policy analyst Dominic Let at the Cato Institute says delaying entitlement cuts will only make it more painful. We can make relatively small, if painful, adjustments now, but if we delay them, the adjustments will need to be much larger. We've run some numbers ourselves. You need several trillion uh in cuts or additional taxes in order to get to a sustainable measure. And in light of recent government fraud scandals, Daniel Bunn, president and CEO of the Tax Foundation, says to those who think a large part of the federal debt is fraud, it's not. Yes, it's something meaningful, but it's not something that's going to save so much uh that you're going to change the overall trajectory of the debt. Those who don't believe the debt is a problem point out the world keeps financing it through the purchase of US Treasury notes. However, former Treasury Secretary Henry Paulson warned a few days ago that the national debt could lead to a vicious bond market crash, and the IMF is now calling the US debt problem a global risk. Some experts believe the answer is letting an unelected bipartisan commission make the necessary spending cuts. Congress, though, would still have to vote on those recommendations, and it doesn't look like US lawmakers will do anything until serious damage hits the US economy. Dale Hurd, CBN News.

[00:03:35]Well, it's unfortunate that we have to go over the cliff before we start to solve this problem. And when we go over the cliff, uh our our bonds are are not going to be marketable anymore.

[00:03:48]Uh we're going to see uh incredible inflation because our currency is going to be devalued.

[00:03:54]There's some real real consequences because of our overspending. And and both parties are to blame. And I'll also put it out there that you and I are to blame, that we vote based on what is our entitlement from the federal government.

[00:04:11]Uh back in history, you go to the city-states of of Greece, and uh that it was one of the marks of a democracy. When the people in a democracy figure out that they can vote themselves the Treasury, uh the very next thing that happens is bankruptcy, and you can't afford an army anymore, and therefore, you are now subject to tyranny. A dictator comes in.

[00:04:39]Look at what happened to Germany after World War I, where their their economy went out of control. A lot of that was the Treaty of Versailles and the reparations that were demanded of the German people. But in the aftermath of that, they ended up with a Hitler, and who who was a politician, and and and he he took advantage of that situation and plunged the whole world into war. Uh what would happen to the world order if the United States went bankrupt? These are really tough questions, and they're tough questions that you and I are going to have to deal with. This isn't something where we can kick the can down the road anymore.

[00:05:22]When I first started warning about the federal debt, we had a vice president, a Republican, in office, who said, "Deficits don't matter."

[00:05:33]Well, they really do, and the national debt really does matter. And if our bonds aren't marketable anymore, if our currency becomes worthless, uh we are in serious trouble, and we'll have to remake everything. Who would lead that?

[00:05:51]In today's political environment, uh the Democrats seem to say, "Anything Trump wants to do, we want to block. I don't we don't care what it is." It's warfare on every front, everywhere.

[00:06:04]Uh there's no way you can come to agreement to say, "Here are some things that we really need to do today to prevent going over the cliff." I'm also not seeing the resolve on the Republican side that we need to actually balance a budget. I wish the balanced budget amendment had gone forward in the 1980s.

[00:06:25]There seemed to be so much political opposition. That would have been the prime time to do it. Are uh is it too late? Uh that's a real open question, but it's an open question for all of us who are citizens of this great nation in the our 250th anniversary, are we looking at are we not even going to be able to pay our bills? That's a big question, and you know, it's one I hope you spend a lot of time focused on, cuz if you don't, the economic consequences to you are going to be horrific.

[00:06:57]In other news, today marks 60 days since the US launched military operations against Iran, triggering a deadline for congressional approval. I from Graham has that story and more from our CBN newsroom. Afron?

[00:07:13]Gordon, the War Powers Act requires Congress to authorize any further military action. Trump officials argue that the with the fighting on hold, that deadline is now extended. I Joshua Swanson reports.

[00:07:27]As the Trump administration faces the 60-day deadline for congressional approval of the Iran war, officials argue the pause in hostilities buys more time. Testifying before the Senate Thursday, Defense Secretary Pete Hegseth said the negotiations stopped the ticking clock. But we are in a ceasefire right now, which our understanding means uh the 60-day clock pauses or stops in a ceasefire. Democrats disagree with that interpretation, but lack enough Republican support in Congress to take action. Hegseth said some lawmakers pose a bigger obstacle to success than Iran.

[00:08:02]Unfortunately, as I said yesterday, and I'll say it again today, the biggest adversary we face at this point are the reckless naysayers and defeatist words of congressional Democrats and some Republicans.

[00:08:16]Defeatists from the cheap seats who, 2 months in, seek to undermine the incredible efforts that have been undertaken and the historic nature of taking on a 47-year threat. Meanwhile, the president says Iran is seeking a deal. I mean, Iran is dying to make a deal. I can only tell you that. I don't want to get into the but they got to they cannot be nuclear. They want to make a deal badly. We have a problems because nobody knows for sure who the leaders are. It's a little bit of a problem, you know? The leaders have been wiped out along with their military. Iran's supreme leader is vowing to protect the country's nuclear and missile capabilities. Pakistan says it continues to facilitate indirect talks between Washington and Tehran.

[00:09:01]Despite the ongoing talks and the deadline, there is concern the hostilities could resume as early as next week. Israel is increasing its military readiness as US Central Command Chief Admiral Brad Cooper briefs President Trump on potential military action against Iran. Options reportedly include a short and powerful series of strikes targeting Iranian sites aimed at increasing pressure on Tehran in ongoing negotiations, as well as possible operations involving the Strait of Hormuz and special forces missions targeting enriched uranium. Joshua Swanson, CBN News, Jerusalem.

[00:09:39]For seven straight days this week, major storms pummeled areas of the Midwest.

[00:09:44]Parts of Texas were hit the hardest as a tornado devastated the town of Mineral Wells near Fort Worth. CBN's Operation Blessing is responding, bringing relief to a church for distribution. That relief includes 460 emergency meal kits containing about 16,000 individual meals, as well as 40,000 bottles of water, and 480 hygiene kits.

[00:10:08]When a huge flood slammed into parts of Hawaii, it left some of the state's poorest residents homeless. CBN's Operation Blessing quickly arrived on the scene with some much-needed help.

[00:10:19]Lori Johnson brings us this story.

[00:10:22]Operation Blessing showed up quickly to help victims of Oahu's Kona low storm.

[00:10:28]>> [snorts] >> And it just made it really difficult for us to get out of the house. Heavy rain pounded the area for 4 days, overwhelming its drainage system. So, it's breathing in the sewer water that's underneath our house, cuz we had a broken sewer pipe.

[00:10:49]Many in rural Waianae are farmers whose families have been here for generations.

[00:10:55]We bought this in 1955 for $800.

[00:11:00]2 and 1/2 acres. While much of the water has now receded, the damage remains. We ain't got the kind of money that we can just say, "Oh, it's okay, you know, we're going to do this, we're going to do that." We don't got it like that.

[00:11:12]Some of us live on set incomes, you know?

[00:11:15]And some of us don't have the extra help that we need. Operation Blessing partnered with local churches to locate those in need and help them. It was a very frightening experience to wake up and having to evacuate, um, you know, in knee-deep, waist-deep water, um, that eventually was taking away cars and some some of our people's their whole entire homes. Operation Blessing staff and volunteers provided food, hygiene kits, and more to Chardonnay, a local pig farmer who volunteered her home as a donation hub.

[00:11:49]And I started reaching out to neighbors and asking them if they need anything, and slowly more and more people started to come, and I started to hear the stories about what everybody's been going through. Recipients deeply appreciated the assistance. I think it's a great thing, you know? I think it's it's a blessing, you know?

[00:12:09]To have you in come and help us out the way you are do it. Such a blessing. We thank you from the bottom of our hearts. We thank you. I would tell them, "Thank you so much. We are so forever grateful for you guys." And thank you for having the heart and cared for us. Thank you for you people as Operation Blessing. It's really a blessing to us.

[00:12:33]You know, getting all these donations and passing them out to the people that needs it, cuz they really do. And they really appreciate it. Local church leaders say God has worked this tragedy for good. It's been really rad, because a lot of people, like, I mean, they know we're here. They, you know, they they've heard of the gospel, but when they saw the people of God kind of rise up and actually, you know, meet their actual needs and be with their family and love on them tangibly, it really opened up doors for us to be able to share the gospel. And so, as our teams are going out, people are like, "What church you a part of?" Like, all these different things. While the people of Oahu, Hawaii continue the long road to recovery, Operation Blessing will stand with them.

[00:13:16]Lori Johnson, CBN News.

[00:13:19]Operation Blessing doing just that, blessing people in dire need. Gordon.

[00:13:25]Uh, whether it's tornadoes in the Midwest or the floods in Hawaii, we want to be there. And it's your donations to the Operation Blessing Disaster Relief Fund that make it possible for us to to respond in real time. That within hours of a disaster, we're able to get teams on the ground. And whether that's the Midwest, Hawaii, Philippines, India, uh, the wherever disaster strike, we want to strike back with love and compassion to let people know, "God loves you. We love you, too." If you want to be a part of it, all you have to do is call us, 1-800-700-7000.

[00:14:04]Just say, "I want to give to the Operation Blessing Disaster Relief Fund." You can write to us at CBN Center, Virginia Beach, Virginia 23463.

[00:14:13]Just put Operation Blessing or Disaster Relief Fund on the memo line of a check.

[00:14:18]You can text OBDR to 71777, or you can go to cbn.com and you can designate your gift to the Disaster Relief Fund. Either way, do it now.

[00:14:30]1-800-700-7000.