Tracking where every federal dollar goes. Analysis of government outlays, deficit trends, and budget policy sourced from OMB, CBO, and US Treasury data.
→ Full Debt DashboardSourced from FRED, US Treasury Fiscal Data, and Office of Management & Budget. Updated as data is released.
The Treasury's own Statement of Net Cost reveals which agencies account for the overwhelming share of federal expenditure — and how $970 billion in interest now dwarfs the entire visible discretionary government.
Read Analysis →The U.S. Treasury set a record $110 billion 4-week bill auction in October 2025 while average debt interest rates climbed to 3.32% — more than double 2021 levels. With debt at $39T and 122.5% of GDP, record auction volumes are the permanent operating condition of U.S. fiscal policy.
Read Analysis →The national debt crossed $39 trillion on March 19, 2026, having added $1.14 trillion in just 169 days of FY2026. At $6.73 billion added every day, the annualized borrowing pace has reached $2.46 trillion — with $3.5 billion in daily interest cost.
Read Analysis →In FY2025, the federal government spent $7.0 trillion — but three agencies alone consumed nearly two-thirds. GTP maps every dollar by department, from HHS's $1.9T dominance to the rising $1T+ interest bill.
Read Analysis →The Congressional Budget Office's February 2026 baseline reveals an accelerating fiscal trajectory — annual deficits roughly double by 2036 as federal debt tracks toward a peacetime record as a share of the economy.
Read Analysis →A line-by-line breakdown of federal outlays — from Social Security and defense to interest on the national debt — with year-over-year comparisons.
For the first time in modern history, the federal government is spending more servicing its debt than funding the entire defense budget.
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