US Debt Crisis: 30-Year Plan to Eliminate National Debt

March 21, 2026 Lucas Fernandez – World Editor World

The gross federal debt of the United States surpassed $39 trillion this month, a milestone reached as policymakers grapple with escalating interest payments and a commitment to fiscal restraint. The figure, exceeding previous projections, places renewed focus on the nation’s long-term financial health and the feasibility of current spending levels.

As of December 3, 2025, the total gross national debt stood at $38.40 trillion, according to a report released by the Joint Economic Committee. This represents a $2.23 trillion increase over the past year, averaging $6.12 billion per day. The debt has risen by $11 trillion in the last five years. The current rate of increase suggests the $39 trillion mark will be reached around March 6, 2026.

The escalating debt is accompanied by a significant rise in interest payments. In November 2025, the average interest rate on marketable national debt was 3.382 percent, up from 3.355 percent a year prior and a substantial increase from 1.583 percent five years ago. The U.S. Government paid $981 billion in net interest over the preceding 12 months in October 2025, compared to $345 billion in October 2020.

The Treasury Department reports a total national debt of $38 trillion as of October 2025, comprised of intragovernmental holdings and debt held by the public. The debt-to-revenue ratio currently stands at 6.75 to 1, as of the second quarter of 2023. The Treasury publishes a daily total of the national debt, providing a running tally of outstanding treasury securities.

The increasing national debt has prompted calls for fiscal adjustments. While specific proposals remain under debate, a growing consensus is emerging around the require to address the long-term trajectory of federal spending and revenue. The national debt is the cumulative amount of money the federal government has borrowed to cover expenses over time.

Projections indicate that, without significant changes, the national debt could reach 175% of GDP, with interest payments totaling $99 trillion. These projections anticipate higher spending, lower revenues, elevated interest rates, and a substantially larger national debt than previously forecast.

The Joint Economic Committee is scheduled to release its next Monthly Debt Update in February 2026, which will provide an updated assessment of the national debt and its implications for the U.S. Economy.