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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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The Fed Held Its Target Range For the Third Meeting in a Row but Interest Costs Remain High 

By amymcleod | April 30, 2026
Federal Reserve Chair Jerome Powell Holds News Conference On Interest Rates

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

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What Is R Versus G and Why Does It Matter for the National Debt?

By amymcleod | April 13, 2026
People with shopping bags walking outside.

The combination of higher debt levels and elevated interest rates have increased the cost of federal borrowing, prompting economists to consider the sustainability of our fiscal trajectory.

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Interest Costs on the National Debt

By jcurry | April 13, 2026

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

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Current Federal Debt & Deficit

By briteweb | April 13, 2026

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

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Chart Pack: Fiscal Outlook

By briteweb | April 9, 2026
Chart Packs

The national debt is already at its highest level since just after World War II, and annual deficits are on an upward trajectory.

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Rising Interest Costs on the National Debt Are Crowding Out America’s Future

By jcurry | April 8, 2026
Construction

Growing interest costs on the national debt matter because of their effect both inside the federal budget as well as on the overall economy.

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What Are the Consequences of a High and Rising National Debt?

By jcurry | April 7, 2026
Barista helps customers

The high and rising national debt harms the economy, makes life less affordable, and jeopardizes the economic prosperity of Americans.

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6 Ways the Rising National Debt Can Fuel a Fiscal Crisis

By jcurry | April 7, 2026
Shredded dollar

The national debt is now as large as the entire U.S. economy, and the risk is increasing as the country accumulates debt faster than ever.

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National Debt Projected to Hit 175% GDP; Interest Totals $99 Trillion

By jcurry | March 20, 2026
Capitol Dome

Compared with the previous 30-year projections, spending will be higher, revenues lower, interest rates and interest payments elevated, and the national debt significantly larger.

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Quarterly Treasury Refunding Statement: Higher Borrowing Compared to Last Year 

By jcurry | March 19, 2026
Treasury Department

Key highlights from the most recent Quarterly Refunding include an increase in anticipated borrowing of $249 billion compared to the same period in the previous year.

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