With U.S. Interest Costs Skyrocketing, Voters Overwhelmingly Call for Fiscal Commission
Last Updated October 27, 2023
As a new House Speaker takes the helm and Congress faces another looming government shutdown deadline, U.S. voters are focused on big-picture fiscal challenges, including the growing burden of interest costs.
New polling by Democratic firm Global Strategy Group and Republican firm North Star Opinion Research shows that voters are deeply concerned about interest costs eating up more and more of the federal budget. Moreover, there is overwhelming bipartisan support for the creation of a dedicated commission to recommend fiscal solutions.
On Capitol Hill, as Congress has drifted from one fiscal crisis to the next, there is growing momentum for a dedicated process to tackle our debt with lawmakers on both sides of the aisle expressing support. Late last month, a bipartisan group of leaders introduced legislation to establish a commission to recommend a comprehensive package of spending and revenue reforms to stabilize our fiscal outlook.
Further Reading
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The U.S. is experiencing an unusual and concerning phenomenon — the annual deficit is high even though the unemployment rate is low.
Delaying Fiscal Reform is Costly, Annual Treasury Report Warns
The Treasury projects that debt as a percentage of GDP will grow to more than five times the size of the U.S. economy in the next 75 years.
How Much Is the National Debt? What Are the Different Measures Used?
There are three widely used measures of federal debt. What are the important differences between these measurements?