The cost to the U.S. government of servicing the $40 trillion national debt pile is not difficult to come by: The Treasury publishes its own data on interest payments. The costs to households and individuals are more difficult to pinpoint, but a new report from the Committee for a Responsible Federal Budget (CRFB) suggests deficit reduction is the key to solving an affordability crisis.
Household costs have become a political lightning rod, both in the run-up to the 2024 presidential elections and again in 2026, ahead of the midterms. A July study from Pew Research showed the economy was the top-of-mind issue for voters, with 29% saying they wanted to hear plans to address price increases from Congressional candidates. A further 15% said affordability and the cost of living, specifically, were the key issues for them.
