After decades of red ink, a fresh push for a balanced budget amendment emerges

Published October 17, 2025 5:50am ET



The U.S government’s debt hit $37.6 trillion on Sept. 30, the end of the most recent fiscal year. To put that number in perspective, a stack of $1 bills in that amount would be 2.5 million miles tall.

One day after the nation reached this ignominious fiscal mark, the federal government shut down due to a lack of funding. Legislators are unable to agree on how much to spend: more, or a whole lot more.

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