Market
What will be the US federal deficit as a percentage of GDP for fiscal year 2025?
2
Resolution / Starting Odds
Less than 5% • 25%
5% to 6.4% • 25%
6.5% to 7.5% • 25%
More than 7.5% • 25%
US Congressional Budget Office reports
Story
Elon Musk Proposes D.O.G.E Amid $36 Trillion US Debt Surge
Dec 1, 2024, 07:03 AM
Elon Musk has voiced concerns over the United States' rapidly increasing national debt, which has now surpassed $36 trillion. Musk has criticized the government's spending, calling for increased efficiency and transparency in how taxpayer money is utilized. He has proposed the creation of a 'Department of Government Efficiency' (D.O.G.E) to address what he describes as a 'staggering amount of waste' in federal expenditures. Musk's comments come at a time when the U.S. federal debt has skyrocketed by $2 trillion since the beginning of 2024, with the government borrowing approximately $182 billion each month. This escalation in debt has led to a national debt-to-GDP ratio of over 120%, with projections estimating it will reach 131% by 2034. The fiscal year 2024 ended with a federal deficit of $1.83 trillion, or 6.4% of GDP, highlighting the government's borrowing at a rate of $5 billion per day.
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7% to 9% • 25%
5% to 7% • 25%
More than 9% • 25%
Less than 5% • 25%
$1.5 trillion to $2 trillion • 25%
Less than $1 trillion • 25%
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$1 trillion to $1.5 trillion • 25%
4.5% or more • 25%
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Less than 4% • 25%
4.6% to 5% • 25%
4% to 4.4% • 25%
3.5% to 3.9% • 25%
Less than 3.5% • 25%
4% to 4.5% • 25%
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4% to 5% • 25%
$2 trillion to $2.5 trillion • 25%
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$2.5 trillion to $3 trillion • 25%
Above 5% • 25%
1% to 3% • 25%
Below 1% • 25%
3% to 5% • 25%
Below 5.4% • 25%
Between 5.4% and 6% • 25%
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Exactly 5.4% • 25%
5% to 7% • 25%
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Less than 3% • 25%
3% to 5% • 25%
6% or more of GDP • 25%
2% to 3.99% of GDP • 25%
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4% to 5.99% of GDP • 25%
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5% to 5.5% • 25%
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5.5% to 6% • 25%
Below 5% • 25%