Ongoing large budget deficits, driven by mandatory spending on entitlements like Social Security and Medicare plus rising net interest costs, continue to push gross national debt higher, recently surpassing $40 trillion. The One Big Beautiful Bill Act and related appropriations have added to borrowing needs, with the FY 2026 deficit tracking near $2 trillion and debt held by the public exceeding 100 percent of GDP. Congressional Budget Office and Government Accountability Office projections show debt-to-GDP rising further through 2029 and beyond under current policies, with no scheduled major spending cuts or revenue measures set to reverse the trend before year-end. A continuing resolution funds operations through December 2026, while the next debt-limit contact is projected around mid-2027, reinforcing expectations of uninterrupted growth in the near term.