BofA Chief Warns: "Big and Beautiful" Bill Could Trigger $50 Trillion Debt Bubble!

TradingKey - Recently, Michael Hartnett, Bank of America's Chief Investment Strategist, dubbed "Wall Street's Most Accurate Analyst," issued a report warning that U.S. federal government debt could surpass $50 trillion within seven years, based on projections of the "Big and Beautiful" bill's impact.

According to Hartnett's calculations, U.S. federal debt will reach $43 trillion by 2028 and reach $50 trillion by 2032. If shocks such as economic recessions or public health crises occur, debt levels could surge an additional $10 trillion.

Currently, the total U.S. national debt has exceeded the $36 trillion threshold, setting a new historical record. The formal signing of the "Big and Beautiful" bill is expected to further worsen the U.S. fiscal deficit. Earlier, according to calculations by the Congressional Budget Office (CBO), the large-scale tax cuts and fiscal spending expansion measures included in the bill are projected to add $3.3 trillion in fiscal deficits over the next decade.

Hartnett remarked, "Since Trump has made little progress on spending cuts, defense reduction, or debt control, the only way to fund this bill may rely on ‘One Big Beautiful Bubble.’"