The United States faces a growing fiscal challenge as interest payments on its national debt are projected to surpass Medicare spending within the next decade, a development that has sparked increasing concern among voters. According to a spring 2025 poll by the Peterson Foundation, a non-partisan organization, 76% of all voters, including 73% of Democrats and 89% of Republicans, believe that addressing the country's rising debt should be a top priority for the president and Congress.

The rising cost of interest expense is now the fastest-growing major line item in the U.S. budget and has contributed the most to the budget shortfall since the start of the pandemic. This expense, which does not directly contribute to national defense, healthcare for seniors, or border control, is poised to become an increasingly significant burden on the nation's finances.

The situation has deteriorated more rapidly than anticipated by the Congressional Budget Office and private forecasters, due in part to tax rate reductions and spending increases. The ballooning debt and its associated interest payments raise concerns about the long-term economic stability of the United States and its ability to invest in crucial sectors.

Globally, nations grapple with balancing economic growth and fiscal responsibility. High levels of government debt can impact a country's credit rating, potentially increasing borrowing costs and hindering economic development. The U.S., as a major player in the global economy, faces scrutiny from international financial institutions and trading partners regarding its fiscal policies.

The increasing burden of interest payments on the U.S. national debt underscores the need for comprehensive fiscal reforms to ensure long-term economic stability and maintain the nation's competitiveness in the global arena.