The federal government's unsustainable fiscal outlook poses serious economic, national security, and societal challenges. In June 2026, we released our annual report on the nation’s fiscal health. We reported that:

• Publicly held debt is projected to grow more than twice as fast as the economy over the next 10 years, reaching 123% of the size of the economy in 2036
• Government spending on net interest in FY 2025 exceeded federal spending on national defense, and is projected to keep growing

We continue to recommend that Congress develop a strategy to address the unsustainable fiscal path. […]