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  • The Fiscal Challenge
    • Our National Debt

      Understand the U.S. national debt, why it matters, and what we can do.

      Understanding the Federal Budget

      Learn about the budget, how it’s created, and how we can fix our budgeting process.

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      FY26 Deficit

  • Issues
      • Fiscal Outlook

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Quarterly Treasury Refunding Statement: Borrowing Could Rise Soon

By jcurry | October 2, 2026
Treasury building

The U.S. Treasury has signaled its intention to add $1.4 trillion in new debt between July and December.

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Affordability and the National Debt

By briteweb | September 29, 2026

The rising national debt has costly economic consequences for American families and businesses.

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What Are Interest Costs on the National Debt?

By briteweb | September 19, 2026
Federal Reserve Bank

Interest costs are on track to become the largest category of spending in the federal budget.

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7 Charts That Illustrate America’s Growing Fiscal Stress

By jcurry | September 17, 2026
Congress

America’s fiscal situation is daunting, with key budgetary warning signs and hurdles approaching in the near term.

Read More

86 Ways to Reform the Tax Code — and Why It’s Only Half the Solution

By jcurry | September 17, 2026
Tax forms

Tax policy is about trade-offs between how much revenue a tax will raise, who will bear the burden, and how a change will impact economic incentives.

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Fed Raises Rates for First Time Since 2023 as Interest Costs Top $1 Trillion

By amymcleod | September 16, 2026
Federal Reserve Kevin Warsh

High interest rates on U.S. Treasury securities increase the federal government’s borrowing costs.

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Interest Costs on the National Debt

By jcurry | September 16, 2026

See interest costs on the national debt for this fiscal year and projections for the next 10 years.

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In Their Own Words: Debt a Critical Issue for Voters in 2026 Election

By jcurry | September 14, 2026
Voters in polling booths

Voters understand that the national debt has become too big to ignore as a major factor in America’s affordability crisis.

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Current Federal Debt & Deficit

By briteweb | September 14, 2026

See the latest numbers on the national deficit for this fiscal year and how it compares to previous years.

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Bond Market Movements Point to Growing Fiscal Risks

By jcurry | September 1, 2026
Bonds

As ratings agencies have serially warned, U.S. debt growth is unsustainable, and global investors appear to be weighing the risks of financing U.S. deficits more heavily.

Read More
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