WASHINGTON, DC, August 12, 2025 – As the national debt hits the $37 trillion level for the first time in U.S. history today, Concord Action Executive Director Carolyn Bourdeaux released the following statement:
“For the first time in U.S. history, the federal debt is above $37 trillion. The growing debt is unsustainable, and we are digging ourselves into a deeper hole every year. Not only is the U.S. government operating at a deficit, spending almost $2 trillion more than it takes in, but now interest payments alone are starting to put pressure on other critical budgetary priorities.”
This debt is an economic ball and chain that will be a drag on our economic vitality for generations to come, leaving less funding in the future for critical investments in human and physical capital, less capacity to address shortfalls in Social Security and health care, and less ability to reduce taxes or to respond effectively to a crisis.
The time has come for Congress to commit to fiscally responsible funding and closing the annual budget deficit. Every year that goes by, the problem becomes more and more intractable and the likelihood of a significant debt-induced economic crisis grows. For the sake of our nation and future generations of Americans, members of Congress need to put forward a serious plan to close our annual funding shortfalls and to reduce the national debt.”
Concord Action is a grassroots network of citizens working for a better future by demanding that lawmakers stop adding to our unsustainable debt that is contributing to inflation, driving higher interest rates, threatening our national security, and creating an unfair burden on future generations.
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