Debt and National Security

This three-part series explores how rising U.S. federal debt is increasingly shaping national security and American global influence. It argues that debt affects security through multiple channels.

• Military strength: Rising debt increases interest costs, reducing the fiscal flexibility available to sustain defense priorities.
• Diplomatic and economic influence: Fiscal pressures constrain investment in diplomacy, alliances, and other nonmilitary tools that help prevent conflict and advance U.S. interests abroad.
• Fiscal credibility: Persistent borrowing weakens confidence in the United States’ long-term fiscal outlook, undermining an important source of American economic and geopolitical strength.
  

Taken together, these effects suggest that federal debt is not merely a fiscal challenge—it is a national security issue. In an era of rising debt, debates over defense, diplomacy, and fiscal policy cannot occur in isolation. Instead, policymakers should view national security as a portfolio of complementary investments, allocating limited resources where they can generate the greatest strategic return.

Part 1—Borrowing Away Military Flexibility
Part 2—Borrowing Away American Global Influence
Part 3— National Security in an Era of Rising Debt