Concord Action welcomes a variety of viewpoints on issues related to the long-term fiscal health of the nation. The following is a guest essay written by Concord Fiscal Lookout Owen Paepke who is the author of The Evolution of Progress (named best nonfiction book of 1993 by NPR’s Talk of the Nation) and has written and spoken widely on technology and science policy. He lives in Arizona, where he practiced for many years as an attorney specializing in antitrust and intellectual property, and is a graduate of Stanford and the University of Chicago.
Americans Care More About the National Debt Than Washington Thinks
One of the most common myths in Washington is that Americans simply don’t care about the national debt. We often hear that the problem is too abstract, too large, or too distant from people’s daily lives to capture public attention.
The data tell a different story.
Survey after survey shows that Americans are increasingly concerned about the nation’s fiscal future. More importantly, they do not view the debt as an isolated accounting problem. They connect it directly to the issues affecting their everyday lives—from inflation and interest rates to Social Security, Medicare, and the nation’s economic future.
Concern About the Deficit Is Growing
One of the clearest recent indicators comes from the Pew Research Center, which regularly asks Americans which issues they consider “very big problems” facing the country.
In its 2026 national survey of more than 5,100 adults, 64 percent of Americans identified the federal budget deficit as a very big problem, up from 57 percent the year before. Even more striking, Democrats (66 percent) and Republicans (62 percent) expressed nearly identical levels of concern—an unusual finding in today’s polarized political environment.
This trend has been building for years. Pew’s long-term polling shows that concern about deficits has steadily increased as debt levels have climbed.
Americans Want Leaders to Make Fiscal Responsibility a Priority
The findings are reinforced by the Peter G. Peterson Foundation’s Fiscal Confidence Index, a monthly survey tracking public attitudes toward America’s fiscal outlook.
According to recent polling:
- 81 percent of Americans say their concern about the national debt has grown over the past several years.
- 81 percent believe addressing the debt should be one of the nation’s top three priorities.
- 56 percent strongly agree that it should rank among Washington’s highest priorities.
These findings suggest Americans are not asking Washington to ignore the nation’s fiscal challenges—they are asking leaders to confront them.
The Debt Is Viewed as a Kitchen-Table Issue
Perhaps most importantly, Americans do not see the national debt as merely a government accounting problem.
They increasingly associate it with issues affecting their own financial security.
In February of this year, Peterson Foundation polling found:
- 90 percent are concerned that the national debt contributes to inflation.
- 85 percent are concerned about its impact on interest rates.
- 95 percent want candidates to clearly explain their plan to prevent shortfalls in the Social Security program which will precipitate over 20% across the board cuts to benefits if left unaddressed.
The concern about the federal budget and programs like Social Security and Medicare is widely shared. Gallup polling shows that fully 40 percent of Americans are unsure that Medicare or Social Security benefits will be available to them in the next 10 years.
These concerns are well founded.
As federal debt grows, the government must devote an increasing share of taxpayer dollars simply to paying interest on past borrowing. According to the Congressional Budget Office, net interest costs are projected to become one of the fastest-growing parts of the federal budget over the next three decades.
Similarly, the U.S. Government Accountability Office has warned that the nation’s current fiscal path is unsustainable and that rising debt threatens long-term economic growth and fiscal flexibility.
According to the 2026 Social Security and Medicare Trustees Report, absent congressional action, in 2032, Social Security will only be able to pay about 78 percent of scheduled benefits, while Medicare’s Hospital Insurance Trust Fund faces a shortfall one year later.
Americans Understand the Stakes
Public opinion research makes clear that Americans are making the connections.
They understand that fiscal responsibility is not simply about balancing government books. It is about preserving economic opportunity, protecting retirement programs, limiting inflationary pressures, and ensuring that future generations inherit a government capable of meeting the nation’s challenges.
Americans may disagree about the specific mix of spending reforms, tax changes, or entitlement reforms needed to improve the nation’s fiscal outlook. But they increasingly agree on one fundamental point: Doing nothing is not an acceptable option.
