Federal Budget & National Debt

The challenge

What's the Challenge?

The federal government spends more than it collects in revenue, adding to a national debt that crossed $39 trillion in March 2026 and continues to grow by roughly $2.7 trillion per year. Interest payments on this debt now consume more than $1 trillion annually—more than defense spending. While most Americans express concern about the deficit, politicians from both parties have contributed to the problem—Republicans through tax cuts and defense spending, Democrats through social programs and healthcare expansion. The challenge is addressing unsustainable debt without harming vulnerable Americans or economic growth.

Where we agree

Where Most Americans Agree

The current path of federal spending is unsustainable long-term
Government waste and inefficiency should be eliminated
Both spending cuts and revenue increases will likely be needed
Social Security and Medicare face funding shortfalls that need addressing
Interest payments on the debt are crowding out other priorities
Politicians in both parties have contributed to the problem
Defense spending should be efficient and auditable
Tax loopholes that benefit special interests should be closed
Future generations shouldn't bear unfair burdens from today's decisions
Economic growth helps but won't solve the problem alone

Source · Pew Research Center 2025-2026, Committee for a Responsible Federal Budget

Both sides, fairly

How each side argues it.

Understanding the full debate means reading what each side actually says, not the caricature of it.

Progressive

Progressive Perspective

Tax cuts for the wealthy and corporations created the deficit crisis
We can afford social programs if billionaires and corporations pay their fair share
Cutting Social Security and Medicare benefits harms vulnerable Americans
Defense spending is bloated and filled with waste from contractors
Investing in infrastructure, education, and healthcare grows the economy and pays for itself
Republicans only care about deficits when Democrats propose helping working families

Conservative

Conservative Perspective

Excessive government spending and entitlement programs drive unsustainable debt
We have a spending problem, not a revenue problem—government takes enough already
Raising taxes kills economic growth and punishes success
Entitlement reform is essential but Democrats demagogue any proposed changes
Waste, fraud, and abuse in government programs must be eliminated
Democrats only propose tax increases, never real spending cuts

The evidence

Evidence-Based Facts

№ 01
U.S. national debt crossed $39 trillion in March 2026 and reached approximately $38.9 trillion as of May 2026, well over 120% of GDP
Source · U.S. Treasury Fiscal Data; Joint Economic Committee monthly debt updates
№ 02
Net interest on the debt now exceeds $1 trillion per year—approximately $3 billion per day—surpassing defense spending
Source · Congressional Budget Office; CBO Budget Outlook
№ 03
Social Security and Medicare together account for about 40% of federal spending
Source · Office of Management and Budget
№ 04
Deficits have exceeded $1 trillion annually under both Republican and Democratic presidents
Source · Congressional Budget Office
№ 05
Without policy changes, CBO projects debt will reach 180% of GDP by 2050
Source · Congressional Budget Office Long-Term Outlook

Read deeper

Learn More

Honest questions

Questions for Thoughtful Debate

№ 01
What combination of spending cuts and revenue increases is fair and effective?
№ 02
How do we reform Social Security and Medicare to ensure long-term solvency?
№ 03
Should we prioritize deficit reduction or economic growth?
№ 04
What government programs provide the best return on investment?
№ 05
How do we reduce waste without harming people who depend on government services?
№ 06
What's a sustainable level of debt relative to GDP?
№ 07
Should we require balanced budgets except in emergencies?