The U.S. government's debt balance has officially surpassed $40 trillion, a figure equivalent to 124% of the country's gross domestic product (GDP), up from 62% in 2006. The federal debt burden has more than doubled in a decade and surged by 376% compared to 20 years ago. Currently, the funds allocated in the U.S. budget for interest payments are second only to Social Security and Medicare, exceeding all other expenditures. The Congressional Budget Office projects that the total federal debt will reach $64 trillion by 2036.