In 2025, the national debt of the United States exceeds 34 trillion dollars, representing about 120% of the gross domestic product (GDP). This situation results from decades of budget deficits, amplified by exceptional spending related to the COVID-19 pandemic and the aging population. Servicing the debt is becoming increasingly costly due to rising interest rates.
To reduce this debt, several avenues are being considered. On one hand, some advocate for raising taxes, particularly on high incomes and large corporations. On the other hand, cuts to public spending, including social programs like Medicare and Social Security, are proposed, although politically controversial. Sustained economic growth could also improve the debt-to-GDP ratio by increasing tax revenues. However, the ongoing political deadlock between Republicans and Democrats complicates the adoption of sustainable structural budget measures.