The US Treasury is projected to borrow over $2 trillion in fiscal year 2026, with deficits staying above 6% of GDP. That implies $166–$181 billion of new debt each month, while interest payments alone hit $530 billion in just six months. With national debt around $38.91 trillion, reaching a 3% deficit target would require about $10 trillion in cuts over a decade.
The US debt-to-GDP ratio hit 100.2% on March 31, meaning America’s national debt now exceeds the size of its entire economy. The $39 trillion burden is tied to rising interest payments that economists say will cost about $827 billion to fix—roughly matching the defense budget. Interest costs are nearly tripling since 2019, driven mostly by past borrowing.
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