As Congress weighs a new reconciliation package that could add to federal deficits, and with a government funding deadline looming before the mid-term elections, a new Peter G. Peterson Foundation survey shows Americans are deeply concerned about the rising national debt and its effect on the cost of living. The U.S. Fiscal Confidence Index in July remains at 39 (100 is neutral), reflecting the importance of fiscal responsibility for voters this campaign season.

The new national survey, jointly conducted by Democratic firm Global Strategy Group and Republican firm North Star Opinion Research, finds:

• 90% of voters (including 95% of Democrats, 87% of independents and 87% of Republicans) are concerned that the national debt’s effect on inflation is increasing the cost of living, including prices for groceries, energy, housing, transportation, and other goods and services.
• 86% of voters (including 90% of Democrats, 83% of independents and 84% of Republicans) are concerned that the national debt is contributing to higher borrowing costs, such as credit card interest, car loan rates, and mortgage rates.
• 94% say they are more likely to support a candidate with a plan to address the debt, including 95% of Democrats, 92% of independents and 94% of Republicans.
• 82% say a candidate having a plan to address the national debt is a factor in deciding their support in the 2026 election, including 84% of Democrats, 79% of independents and 82% of Republicans.
• 73% of voters (including 64% of Democrats, 83% of independents and 75% of Republicans) say they would consider supporting a candidate from a political party they do not usually support, if that candidate had a clear plan to address the debt.
• 95% of voters want Senate candidates this year to clearly explain their plans to prevent automatic Social Security benefit cuts, with virtually unanimous agreement in each age bracket and across party lines.

“As Congress considers election year budget proposals, the national debt keeps rising and American families are paying the price through higher interest rates and inflation,” said Michael A. Peterson, CEO of the Peterson Foundation. “Voters understand that the growing debt adds to their cost of living, and they are calling for a more responsible approach that will improve our economic future.  With less than 100 days until the election, candidates have the opportunity to put forward solutions that help address affordability, stabilize the national debt and put our nation on a stronger path.”

July’s U.S. Fiscal Confidence Index shows rising concern about the national debt among the vast majority of voters, with 81% saying their level of concern about the debt has increased over the last few years. Additionally, 67% of voters believe elected officials are on the wrong track when it comes to addressing the debt, tying this year’s high.

The Fiscal Confidence Index measures public opinion about the national debt by asking six questions in three key areas:

• CONCERN: Level of concern and views about the direction of the national debt.
• PRIORITY: How high a priority addressing the debt should be for elected leaders.
• EXPECTATIONS: Expectations about whether the debt situation will get better or worse in the next few years.  

The survey results from these three areas are weighted equally and averaged to produce the Fiscal Confidence Index value. The Fiscal Confidence Index, like the Consumer Confidence Index, is indexed on a scale of 0 to 200, with a neutral midpoint of 100. A reading above 100 indicates positive sentiment. A reading below 100 indicates negative sentiment.

Fiscal Confidence Index Key Data Points: 

• The July 2026 Fiscal Confidence Index value is 39. (The June value was 39. The May value was 36.)
• The current Fiscal Confidence Index score for CONCERN about the debt is 34, indicating deep concern about the debt. The score for debt as a PRIORITY that leaders must address is 22, indicating that Americans want elected leaders to make addressing long-term debt a high priority. The score for EXPECTATIONS about progress on the debt is 61. The Fiscal Confidence Index is the average of these three sub-category scores.

This online poll surveyed 1,000 registered voters nationwide between July 20 and July 22, 2026. It has a margin of error of +/- 3.1%.

Detailed results can be found online at www.pgpf.org/FiscalConfidenceIndex.