The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

By Gabriel Rubin

WASHINGTON, May 13 (Reuters Breakingviews) - National debt reached 100% of GDP for the first time in 80 years, as supply shocks ripple out of Iran. The White House also wants to boost military spending to $1.5 trln and grow the immigration policing budget. It only gets harder now to pare long-term borrowing costs below 5%.

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CONTEXT NEWS

U.S. national debt reached $31.27 trillion at the end of March, exceeding the $31.22 trillion of gross domestic product over the preceding 12 months, according to data released by the Bureau of Economic Analysis on April 30. The country's record ratio was 106% in the immediate aftermath of World War Two.