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(The Center Square) – The U.S. national debt is now larger than the entire American economy and is only set to keep growing, further exacerbating the affordability crisis and risking national security.

Out of the $39 trillion total national debt, debt held by the public hit $31.27 trillion on March 31, surpassing the $31.22 trillion in Gross Domestic Product over the past 12 months.

The fact that the national debt has reached 100% of GDP – the highest in history except for the years immediately following World War II – is “deeply troubling,” Romina Boccia, director of budget and entitlement policy at the Cato Institute, told The Center Square.

“Following World War II, we actually had a good reason for having such a high debt, and the government was on a path to reduce that debt after the war ended,” Boccia said. “In this case, we have debt as high as since World War II, except we are on a steep upward trajectory, and it's not driven by a temporary war but by permanent entitlement obligations that are expanding – that's Social Security, Medicare and Medicaid.”

Social Security and Medicare spending alone made up more than 30% of federal outlays in fiscal year 2025, and that spending is projected to continuously increase in the near future.

While some U.S. lawmakers have expressed concern over the unprecedented debt increase, there is little to no action on substantially reducing federal spending.

Yet if Congress does not rein in deficits quickly, current and future generations of American taxpayers will feel the economic brunt of the rising interest costs that servicing the debt requires.

“The reason we concern ourselves with debt to GDP is primarily because of the burden it poses for current and future generations, and that is primarily measured in the interest costs that servicing the debt requires from working Americans and taxpayers,” Boccia said.

“There's strong research indicating that when debt grows to such high levels, above 80% of GDP, it tends to crowd out private sector investment, which reduces economic growth, and therefore economic opportunities, jobs, and higher wages.”

In the immediate term, rising debt worsens affordability by spiking interest costs on Americans’ credit card debts, mortgages, car loans, student loans and more.

“The federal government is using up so much credit in the market that it’s driving up interest costs, and it affects all of us,” Boccia said. “It has these downstream effects.”

The U.S. currently spends more money on financing debt interest costs than it does on national defense – even as high debt ratios directly endanger national security.

“The reason we want governments to maintain low stable debt ratios, preferably below 60% of GDP, is so that they have room, so-called fiscal capacity, to borrow during times of crisis. And that can be a pandemic, a national security crisis, a financial crisis, or an economic recession like we saw in 2008,” Boccia said.

“When governments have that room to borrow for that emergency response, it means that their recessions aren't as severe and they can more easily return to normal economic growth after the crisis ends,” she added. “But when a government enters a crisis already over-leveraged, holding too much debt, they're not able to borrow as much as they otherwise would have in order to weather the crisis, and so the crisis will be more severe.”

In a situation where America is at war, the results would be disastrous.

“If you don’t have the fiscal capacity to respond to a military threat, then you are leaving yourself at risk of not being able to defend yourself,” Boccia said. The national debt is our greatest national security risk.”

Without major changes to federal fiscal policy, the U.S. government will default on its debt in about 20 years, according to Penn Wharton Budget Model estimates.

Around 20,000 partygoers gathered on Saturday for an illegal rave at a military site in France, defying warnings about the risk of unexploded ordnance and possible blasts.

The rave near the town of Bourges in central France kicked off on Friday and organisers expect as many as 30,000 people from France and neighbouring countries to arrive at the peak of the event this weekend.

"Despite its illegal nature, the government has mobilised to ensure the safety of this event and limit any disturbances, particularly for nearby residents," the prefecture said in a statement.

Speaking to AFP, Philippe Le Moing Surzur, the top regional official, said the site was "extremely dangerous due to the unexploded ordnance it may contain."

While modern shells posed no threat, he warned of the risk from older unexploded ordnance and urged revellers to avoid the nearby woods.

"This is a site that has been in use for 150 years, and we know there are potentially old artillery shells there," he said, adding that bomb disposal experts discover them regularly.

Revellers see the giant party not only as a chance to unwind, but also as a protest against tighter legislation targeting illegal techno gatherings.

"I had heard there were going to be a lot of people, but once you’re there, it's still a shock to see so many people gathered in one place," a 22-year-old man told AFP on condition of anonymity.

Another partygoer, 19, said the turnout was "a strong message against repression."

Around 600 police and 45 firefighters have been deployed at the site.

"We're getting ready for a big get-together tonight," said Edith Raquin, the mayor of Cornusse, a village of 220 people located less than two kilometres (about one mile) from the site. 

"We might stay awake all night."

No major incidents were reported, with emergency services treating a dozen people for minor injuries.

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US rapper Kanye West will perform in the Albanian capital Tirana in July, Culture Minister Blendi Gonxhe told AFP on Saturday, exulting that the country was on its way to becoming a destination for top cultural events.

The US rapper, also known as Ye, is known for glorifying Nazi leader Adolf Hitler and for antisemitic and hate-filled rants which he blames on having bipolar disorder.

Due to his controversial comments and songs, West's appearances in London and in Poland have been cancelled.

Britain said it has blocked West from entering the country, leading to the cancellation of a London music festival where he had been scheduled to perform over three nights in July.

The Polish stadium where West was due to perform on June 19 has also cancelled the event.

"The widely discussed actions of Kanye West, linked to his promotion of Nazism, are in manifest contradiction with Poland's values," Culture Minister Marta Cienkowska had said earlier.

The 48-year-old musician has lost fans and several sponsorships in recent years following inflammatory comments and actions. 

Gonxhe said the July 11 concert "marks a new step in making Albania a destination for major cultural events."

A special structure is being built for the concert to accomodate 60,000 people.

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The latest developments in the Middle East war:

- US Navy 'acting like pirates' -

President Donald Trump said the US Navy was acting "like pirates" as he described an operation seizing a ship amid the tit-for-tat American blockade of Iranian ports.

"We... land on top of it and we took over the ship. We took over the cargo, took over the oil. It's a very profitable business," Trump told a rally in Florida.

"We're like pirates," he added to cheers from the crowd. "We're sort of like pirates. But we're not playing games."

- Troop withdrawal 'expected' -

German Defence Minister Boris Pistorius said the withdrawal of 5,000 American troops from Germany had been expected and that Europe needed to do more to ensure its own security.

"That US troops are withdrawing from Europe and also from Germany was to be expected," Boris Pistorius said in a statement sent to AFP by his ministry. "We Europeans must take greater responsibility for our security," he added.

NATO's spokesperson said on Saturday: "We are working with the U.S. to understand the details of their decision on force posture in Germany."

- Renewed war 'likely' -

A senior Iranian military officer said on Saturday that renewed fighting between the United States and Iran was "likely", hours after Trump said he was "not satisfied" with a new Iranian negotiating proposal.

Mohammad Jafar Asadi, a senior figure in the Iranian military's central command, said "a renewed conflict between Iran and the United States is likely", in quotes published by Iran's Fars news agency.

"Evidence has shown that the United States is not committed to any promises or agreements," he added.

- US to slash troops in Germany -

The Pentagon said US Defense Secretary Pete Hegseth had ordered the withdrawal of about 5,000 troops from Germany within the next year.

The announcement came after Trump threatened this week to remove troops from NATO ally Germany amid a row with its chancellor, Friedrich Merz, over the US-Israeli war against Iran.

- Iran executions -

Iran hanged two men on Saturday convicted of spying for Israel, the judiciary said, the latest in a string of executions in recent weeks.

"Yaghoub Karimpour and Nasser Bekrzadeh were hanged for the crime of intelligence cooperation and espionage in favour of the Zionist regime," the judiciary's Mizan Online website said.

It was not immediately clear when the two men were arrested.

- Lebanon says 13 killed in strikes -

Lebanon's health ministry said 13 people were killed Friday in Israeli strikes on the country's south, including in a town where Israel's army had issued an evacuation order despite a ceasefire.

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A humpback whale that had been struggling to survive after beaching near the German coast was released Saturday into the North Sea off Denmark, after being transported in a barge in a last-ditch rescue operation.

The whale, dubbed "Timmy" in Germany -- where its ordeal captured hearts and sparked a media frenzy -- exited the barge, blew air through its blowhole and swam off, said Karin Walter-Mommert, one of the wealthy entrepreneurs who financed the rescue initiative.

It was now swimming on its own and, at least for the time being, in the right direction, she said.

The whale "has some small injuries -- probably from being transported in rough seas -- but they are superficial", said Walter-Mommert.

It "should now swim up the Norwegian coast toward the Arctic", added the entrepreneur, who made her fortune in horse racing.

The whale was first spotted stuck on a sandbank on March 23 near the city of Luebeck, on Germany's Baltic Sea coast, before freeing itself and then becoming stuck again several times.

Various attempts to save it had failed, and authorities had announced they were giving up -- prompting Walter-Mommert and another wealthy entrepreneur to step in.

They came up with what many saw as a long-shot plan: coax the whale into the water-filled hold of a special barge and tow it back to its natural habitat.

Some experts criticised the privately financed rescue plan, saying it would only cause the animal more distress.

But the plan appeared to have succeeded against the odds, as the whale left the barge from Wismar Bay on the Baltic coast at around 8:45 am (0645 GMT), organisers said.

- Weeks-long saga -

To get the whale onto the barge, rescuers had attached straps to it and heaved it down a channel that had been specially dug in the sand to allow it to reach the vessel.

Rescuers then swam alongside it as it sped up and entered the barge -- sparking cheers from the crowd watching from shore.

The barge idea was hatched after the entrepreneurs' initial attempt to save the whale with inflatable cushions and pontoons was unsuccessful.

Officials gave the green light for the rescue after veterinarians said the whale was fit to be transported.

The saga has drawn non-stop coverage from TV channels, online outlets and social media influencers -- but has also led to angry spats and conspiracy theories about how the whale got off track in the first place.

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Japan's prime minister vowed Saturday to do more to ensure a "free and open Indo-Pacific", using a speech in communist Vietnam to tout a regional strategy that has long rankled neighbouring China.

"I am renewing my determination to fulfil Japan's responsibilities and... to play an even more proactive role than ever before in building an international order based on freedom, openness, diversity, inclusiveness, and the rule of law," Sanae Takaichi said in an address at a Hanoi university.

In an era of "intensifying geopolitical competition, accelerating technological innovation", the Japanese premier called for Asian countries to cultivate "resilience" and the ability to "determine their own future".

Japan and Vietnam share common concerns about China's territorial claims in the East and South China Seas, and both have sought to hedge against US-driven trade disruptions by broadening economic and security ties.

But Hanoi aims to stay on good terms with all global powers through its traditional "bamboo diplomacy" approach, while Tokyo has seen its already frosty relations with Beijing deteriorate markedly in recent months.

That makes Vietnam a striking choice of venue for a Japanese foreign policy speech touting a strategy backed by Washington and closely associated with US President Donald Trump.

First articulated a decade ago by Takaichi's mentor Shinzo Abe, the idea of a "free and open" Indo-Pacific has since been embraced by multiple US partners and allies seeking to curb China's influence in the region.

Beijing has slammed the initiative as veiled attempt to promote bloc confrontation, with Chinese foreign ministry spokesman Lin Jian accusing Tokyo of "stirring up confrontation between camps".

In her address Saturday, Takaichi said she was updating the diplomatic vision for a "challenging" new era.

Without naming Beijing directly, she warned against "excessive dependence on a single country for critical goods", saying this often results from "unduly low prices" and calling for a "level playing field".

She also underscored the importance of open shipping lanes, saying "regional supply chains are underpinned by the safe and open navigation of sea".

- Taiwan tightrope -

Long considered a China hawk, Takaichi drew a sharp rebuke from Beijing in November when she suggested that close US ally Japan might intervene militarily to thwart any Chinese attempt to take Taiwan.

China, which regards democratic Taiwan as part of its territory and has not ruled out using force to annex it, summoned Japan's ambassador, warned Chinese citizens against visiting Japan and imposed trade restrictions.

Japan, which like others in the region has territorial disputes with China, has moved to deepen security cooperation ties, in particular with the Philippines.

Takaichi, on her first visit to Vietnam since becoming prime minister in October, aims to deepen bilateral cooperation on energy security and supply chain resilience amid major disruptions stemming from the Middle East crisis.

Japan is Vietnam's largest provider of official development assistance and a key investor and trading partner, with two-way trade surpassing $50 billion for the first time last year.

Takaichi met Saturday with Prime Minister Le Minh Hung as well as top leader To Lam, the Communist Party boss who last month became president as well.

They agreed to advance their high-level strategic partnership to a "new phase of development", Hung said, and inked six agreements spanning technology, climate preparedness and information and communication.

The two sides also agreed to deepen security cooperation and "reaffirmed the importance of resolving disputes in the South China Sea through peaceful means based on international law," according to the Vietnamese prime minister.

Prior to her speech, Takaichi said "Vietnam highlights strategic self-reliance with a positive and active external foreign policy".

"Therefore, increasing cooperation with Vietnam is extremely important for the realisation and progress of (a) free and open Indo-Pacific".

Takaichi will travel to Australia after departing Vietnam on Sunday.

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Alex Zanardi, the Italian Formula One driver who became a Paralympic cycling champion after losing both legs in an accident, has died aged 59, his family announced Saturday.

Zanardi, one of his country's most loved and respected sportsmen, who was credited with helping transform the perception of disability in Italy, died on Friday evening.

In a statement issued through the charity he founded, Obiettivo3, his family said he died "suddenly", but also "peacefully, surrounded by the love of his family and friends".

It comes six years after the four-time Paralympic gold medal winner suffered a second horror crash in June 2020, when his handbike crashed into an oncoming truck during a race in Tuscany.

Italian Prime Minister Giorgia Meloni hailed Zanardi as "a great champion and an extraordinary man, capable of turning every trial of life into a lesson in courage, strength and dignity".

Cordiano Dagnoni, head of the Italian Cycling Federation, said he "transformed the culture of our country, bringing joy and happiness to those fortunate enough to know him, and hope to so many in Italy and around the world".

He said there would be a minute's silence observed at this weekend's races in tribute to the athlete.

Zanardi raced for Jordan, Minardi and Lotus in F1 in the early 1990s before switching to the CART championship in the United States where he was series champion in 1997 and 1998.

He returned to F1 with Williams in 1999 before heading back to CART.

Zanardi almost died in a horrific accident in 2001 at the Lausitzring track in Germany, after which he had both legs amputated.

His car had stalled in the middle of the track after a spin and was struck by another car at a speed of over 300 km/h (186 mph).

Yet he went on to become one of the best-known figures in Paralympic sports, winning two gold medals at the 2012 London Games and two more in Rio de Janeiro, four years later.

In June 2020, he was involved in another terrible accident, this time in Tuscany. He suffered serious head injuries and only returned home 18 months later.

Zanardi, born in Bologna on October 23, 1966, leaves his wife Daniela and son Niccolo. 

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Low-cost US carrier Spirit Airlines said on Saturday that all of its flights have been cancelled as it started an "orderly wind-down of operations," citing spiking fuel prices in recent weeks that left it no choice.

The troubled carrier, which was set to emerge from its second bankruptcy in a year, announced it was ceasing operations after a potential White House bailout fell through.

Spirit Airlines' parent company, Spirit Aviation Holdings, said in an early Saturday press release that it has "started an orderly wind-down of operations, effective immediately."

"All Spirit flights have been cancelled, and Spirit Guests should not go to the airport," said the company, which had put pressure on larger airlines with its no-frills offering launched over 30 years ago.

The company's webpage displayed a message telling guests that "customer service is no longer available." The airline said it will process refunds for purchased flights.

Jet fuel prices have more than doubled since the conflict with Iran began in February, prompting major US airlines to lower their profit forecasts, trim back on capacity growth plans or both.

Spirit's President and CEO Dave Davis said the company in March "reached an agreement with our bondholders on a restructuring plan that would have allowed us to emerge as a go-forward business."

"However, the sudden and sustained rise in fuel prices in recent weeks ultimately has left us with no alternative but to pursue an orderly wind-down of the Company," Davis said in the press release.

"Sustaining the business required hundreds of millions of additional dollars of liquidity that Spirit simply does not have and could not procure. This is tremendously disappointing and not the outcome any of us wanted."

- 'Final proposal' -

Trump said on Friday that Spirit was given a "final proposal" for a bailout package.

"I guess we're looking at it. If we can do it, we'd do it, but only if it's a good deal," Trump told reporters at the White House.

Trump administration officials have also criticized predecessor Joe Biden's administration, which successfully blocked a proposed $3.8 billion takeover of the carrier by JetBlue, arguing it would harm consumers.

In its statement, Spirit said there were "extensive and comprehensive efforts to restructure the business," but the lack of additional funding meant that Spirit "had no choice but to begin this wind-down."

Jan Brueckner, emeritus economics professor at the University of California, Irvine, told AFP last week that the fuel price surge was "the straw that broke the camel's back."

American Airlines said early Saturday that it was in touch with US authorities on "steps we are taking to help mitigate the impact on the communities Spirit serves and the traveling public."

American said it was offering "rescue fares" on Spirit's routes.

United Airlines also said it was providing "price-capped, one-way tickets from most cities where Spirit flew."

Spirit Airlines, which began offering flights in 1992, was known for its yellow-colored planes and employed just over 11,000 people as of 2024.

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A humpback whale that had been struggling to survive after beaching near the German coast was Saturday released into the North Sea off Denmark after being transported in a barge, a member of a rescue mission said.

Dubbed "Timmy" by the German media, the whale was first spotted stuck on a sandbank on March 23 near the city of Luebeck before freeing itself and then becoming stuck again several times.

The whale left the barge it had been towed on from Wismar Bay on the Baltic coast at around 8:45 am (0645 GMT), said Karin Walter-Mommert from the rescue initiative.

It is now swimming on its own and freely, and at least for the time being, in the right direction, she said.

At the start of April, German officials gave up on trying to rescue the animal, saying they believed it could not be saved.

But this triggered an outcry and authorities were persuaded to approve a privately financed rescue plan proposed by two wealthy entrepreneurs.

The barge idea was hatched after their initial attempt to save the whale with inflatable cushions and pontoons was unsuccessful.

The rescue effort was seen as a long shot and criticised by experts who said it would only cause the animal more distress.

The whale's ordeal has sparked a media frenzy -- with non-stop coverage from TV channels, online outlets and social media influencers -- but has also led to angry spats and conspiracy theories.

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Low-cost US carrier Spirit Airlines said on Saturday that all of its flights have been cancelled as it started an "orderly wind-down of operations" after a potential White House bailout fell through.

US President Donald Trump previously expressed interest in organizing a package to save thousands of jobs at the carrier, which filed for bankruptcy twice in 2025.

Spirit Airlines' parent company, Spirit Aviation Holdings, said in an early Saturday press release that it has "started an orderly wind-down of operations, effective immediately."

"All Spirit flights have been cancelled, and Spirit Guests should not go to the airport," said the company, which had put pressure on larger airlines with its no-frills offering launched over 30 years ago.

The company's webpage displayed a message telling guests that "customer service is no longer available." The airline said it will process refunds for purchased flights.

Spirit's President and CEO Dave Davis said the company in March "reached an agreement with our bondholders on a restructuring plan that would have allowed us to emerge as a go-forward business."

But skyrocketing jet fuel prices since the start of the Middle East war "left us with no alternative but to pursue an orderly wind-down of the Company," Davis said in the press release.

"Sustaining the business required hundreds of millions of additional dollars of liquidity that Spirit simply does not have and could not procure. This is tremendously disappointing and not the outcome any of us wanted."

The company said that the lack of additional funding meant that Spirit "had no choice but to begin this wind-down."

Spirit Airlines, which began offering flights in 1992, was known for its yellow-colored planes and employed just over 11,000 people as of 2024.

The airlines announced in February an "agreement in principle" to restructure its debt with creditors, saying it expected to emerge from bankruptcy by early summer.

But a spike in fuel prices sparked by the US-Israeli war on Iran that started a few days later delivered a heavy blow to the struggling carrier.

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