{"id":112,"date":"2026-07-21T02:44:08","date_gmt":"2026-07-21T02:44:08","guid":{"rendered":"https:\/\/thirstier.news\/?p=112"},"modified":"2026-08-03T14:27:15","modified_gmt":"2026-08-03T14:27:15","slug":"gao-urges-immediate-action-to-address-americas-unsustainable-fiscal-path","status":"publish","type":"post","link":"https:\/\/thirstier.news\/?p=112","title":{"rendered":"GAO Urges Immediate Action to Address America\u2019s Unsustainable Fiscal Path"},"content":{"rendered":"\n
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WASHINGTON (June 11, 2026) \u2014\u00a0For the first time since the aftermath of World War II, the federal government\u2019s publicly held debt temporarily surpassed the size of the entire U.S. economy. The U.S. Government Accountability Office (GAO) projects that, under current fiscal policies, debt will permanently exceed that threshold in the coming years. In its 10th annual report<\/a> on the nation’s fiscal health, released today, GAO warned that without immediate action, the situation will only grow more severe and costly for Americans.<\/p>\n

\u201cThe rising debt is increasing the risk of a fiscal crisis, and it is time to take action,\u201d said Orice W. Brown, Acting Comptroller General of the United States and head of the U.S Government Accountability Office. \u201cContinued delay will harm the well-being of the American people. Congress and the Administration must work together to develop a comprehensive long-term strategy.\u201d<\/p>\n

GAO projects that without policy changes, publicly held debt will grow about twice as fast as the economy over the next 10 years, reaching 120 percent of the size of the economy in 2036. In 30 years, GAO projects that publicly held debt will exceed 250 percent of the size of the economy. The growing debt could have a range of negative effects, including higher borrowing costs for individuals and businesses, lower wages, and rising prices.\u00a0<\/p>\n

Immediate and sustained action is needed to shift the nation\u2019s current unsustainable fiscal path. The longer actions are delayed, the more dramatic they will need to be. The government spent almost $1 trillion on interest alone last year\u2014an amount that exceeded the entirety of U.S. defense spending\u2014and interest spending is projected to keep growing.\u00a0<\/p>\n

A comprehensive long-term strategy is necessary to guide the difficult policy choices that are needed to put the nation on a fiscally stable course.\u00a0This strategy to slow the growth of federal debt should include:<\/p>\n