As the United States enters 2026, the national mood regarding the country’s balance sheet is sour. Following a tumultuous 2025, marked by historic government shutdowns and record spending, a new report indicates that the vast majority of the electorate is demanding immediate legislative attention to the nation’s financial health—and, in particular, its $38 trillion national debt.
According to the January 2026 index sponsored by the nonpartisan Peter G. Peterson Foundation, released Wednesday, 82% of voters agree that lawmakers must spend more time addressing the national debt. The index is 51 (with 100 being neutral), six points lower than January 2025 — indicating that voters want to address the unsustainable national debt and budget outlook.
The sharp decline in confidence follows a year of unprecedented fiscal turbulence. The foundation notes that 2025 witnessed the “longest government shutdown in history,” the “most expensive reconciliation bill,” and the “highest interest costs ever.” These events appear to have crystallized voter opinion, pushing the debt crisis to the forefront of the national conversation as the 2026 election cycle begins.
‘Understandably concerned‘
Michael A. Peterson, CEO of the Peterson Foundation, linked the public’s anxiety directly to economic consequences that hit voters’ wallets.
“As the new year begins, voters are understandably concerned about America’s fiscal direction,” Peterson said. “The rapidly rising debt puts upward pressure on inflation and interest rates, driving up the cost of living and harming economic growth.”
Peterson emphasized that the issue is unavoidable for those seeking office in the upcoming midterm elections. “Looking ahead to this election year, it will be critically important for candidates to engage voters on solutions that will help stabilize the debt and build a stronger, more prosperous 2026 and beyond,” he stated.
Bipartisan consensus on debt priority
Despite a polarized political climate, the desire for fiscal restraint appears to be one of the few issues bridging the partisan divide. The survey reveals that 79% of voters believe reducing the debt should be a “top-three priority” for both the president and Congress.
When broken down by party affiliation, the data shows broad, cross-party alignment on the urgency of the issue:
• 89% of Republicans view debt reduction as a top priority.
• 75% of Democrats share this view.
• 70% of independents agree.
The Fiscal Confidence Index
The Index is composed of three equally weighted categories: Concern, Priority, and Expectations. The December 2025 breakdown highlights the severity of voter sentiment across all three metrics:
• Concern (Score: 49): This indicates “deep concern” about the direction of the national debt.
• Priority (Score: 22): This exceptionally low score indicates that Americans feel elected leaders are not currently prioritizing the debt enough and want them to make addressing long-term debt a “high priority”.
• Expectations (Score: 80): Voters remain pessimistic about whether the debt situation will get better or worse over the next few years.
The survey was commissioned by the Peter G. Peterson Foundation and conducted by the Democratic firm Global Strategy Group and the Republican firm North Star Opinion Research. The poll surveyed 1,004 registered voters nationwide between December 15 and December 17, 2025, carrying a margin of error of +/- 3.1%.
For this story, Fortune journalists used generative AI as a research tool. An editor verified the accuracy of the information before publishing.
