Spending Is Not Tied to Results

• Federal outlays are projected to reach 23.4% of GDP in 2026, well above the 50-year average, and current law does not bring them back down
• Mandatory programs grow on autopilot, with no regular review of whether they are achieving their goals
• Discretionary spending, which covers defense, infrastructure, and research, absorbs whatever is left over rather than being planned against outcomes

Revenue Has Not Kept Pace With Spending

• Federal receipts are projected at 17.5% of GDP in 2026, well below the level needed to cover current spending
• The spending-to-revenue ratio stands at 133%: the government spends about a dollar thirty-three for every dollar it collects
• The tax and fee structure is complex enough that most citizens cannot easily tell what they actually pay or what it funds

Interest Costs Are Crowding Out Everything Else

• Net interest is projected to grow from just over $1 trillion in 2026 toward $2.14 trillion a year by 2036 if nothing changes
• Interest is on track to become one of the single largest line items in the federal budget, ahead of many programs that directly serve the public
• Every dollar spent on interest is a dollar unavailable for healthcare, infrastructure, education, or national security

There Is No Enforcement Mechanism

• Budget caps and fiscal targets exist on paper but are routinely waived
• There is no automatic correction when deficits exceed their targets
• Multi-year budget planning is rare; most decisions are made one year at a time

Short-Term Incentives Override Long-Term Planning

• Benefits from new spending or tax cuts are immediate; their costs are deferred
• Election cycles reward short-term action over long-term stability
• There is no independent body responsible for holding Congress to a multi-year fiscal path

The Cost Falls Hardest on the Next Generation

• Debt held by the public is on track to reach 120% of GDP by 2036, a level with no precedent in this nation's history outside of major wars
• A shrinking share of the federal budget remains available to respond to the next genuine national emergency
• Every year of inaction narrows the range of options available to younger Americans, who did not make these choices but will pay for them