National Debt Interest Burden Threatens American Dream

Former Congressman Ken Buck warns that unchecked government spending and rising debt are crowding out private investment and making the American dream unaffordable for many.

Published on Mar. 4, 2026

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In a new op-ed, former U.S. Congressman Ken Buck argues that the growing interest burden on the national debt, which recently surpassed $38 trillion, is crippling the American economy and putting the American dream further out of reach for hardworking families. Buck calls on lawmakers to make tough choices to rein in spending and start paying down the debt, even if it means raising taxes and cutting popular programs.

Why it matters

The national debt and associated interest payments are diverting critical resources away from private investment and consumer spending, slowing economic growth and making major purchases like homes increasingly unaffordable for average Americans. Addressing the debt crisis will require political courage, but failure to do so could have severe long-term consequences.

The details

According to Buck, the U.S. national debt is on track to exceed $56 trillion within the next decade. The government is now spending more on servicing the debt than on defense, with nearly a quarter of those interest payments going to foreign countries. This rising debt burden is crowding out private investment, as banks and businesses must offer higher returns to attract capital, driving up consumer costs. Families seeking loans, especially for homes, are facing much higher rates as a result.

  • The national debt recently surpassed $38 trillion, equal to the entire U.S. GDP, for the first time last year.
  • This year, the federal government will spend more than $1 trillion just paying down interest on the debt.

The players

Ken Buck

A former U.S. Congressman from Colorado's 4th district who served from 2015-2024 and now serves as a Fellow with the Independent Center.

Independent Budget Watchdog Group

An organization that issued a report warning that the U.S. national debt is on track to exceed $56 trillion within the next decade.

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What they’re saying

“The U.S. national debt is on track to exceed $56 trillion within the next decade. That is a crippling debt load.”

— Independent Budget Watchdog Group

“This isn't some theoretical problem for Ivy League academics to debate; it's causing real pain for real families, even if they don't know it.”

— Ken Buck, Former U.S. Congressman (creators.com)

What’s next

Lawmakers must get serious about significant program cuts and be honest about how they are going to pay for what's being provided, which means raising revenue to cover costs and begin paying down the debt.

The takeaway

Addressing the national debt crisis will require tough political choices, but failure to do so could have severe long-term consequences for the American economy and the ability of average families to achieve the American dream.