The U.S. deficit is high, and forecasters say it will rise even more.
New data from the Congressional Budget Office says the U.S. deficit under President Trump will remain around just under $2 trillion in fiscal year 2026 and will increase by $24 trillion over the next decade.
President Trump’s tax bill helps small businesses with more tax deductions and write-offs, but inside the GOP bill, the federal government can increase borrowing by around $5 trillion.
Although Congress isn’t listening to economists who say spending needs to be reduced, most Americans agree that something needs to be done.
A new survey by the National Taxpayers Union (NTU) finds voters overwhelmingly believe the country is in an affordability crisis and that cutting government spending is the most effective way to rein in the national debt and bring down costs.
The survey consists of 800 registered voters that included 38% self-identified Republicans, 35% Democrats, and 25% independents.
The results:
89% of voters believe the U.S. is facing an affordability crisis.
88% say the $37 trillion national debt will eventually have a real impact on them and their families.
When asked how to reduce the debt, most (54%) said the best way was to cut government spending. 32% said yes to growing the economy, and 13% said raising taxes.
Voters who were surveyed drew a direct link between fiscal policy and rising prices.
The Affordability Crisis.
74% agreed that cutting government spending and reducing the national debt are one way to lower prices.
Americans understand that the federal government’s overspending has consequences, and families are paying the price,” Pete Sepp, President of National Taxpayers Union, said. “Voters want leaders to rein in spending before the national debt and inflation do even more damage to household budgets.”
