The US national debt held by the public has crossed a symbolic and economically significant threshold, surpassing 100% of GDP. The figure now sits between $36 trillion and $39 trillion. The Congressional Budget Office projects that ratio could balloon to 175% of GDP over the next 30 years if current policies persist.
That projection has reignited calls for a constitutional balanced budget amendment. Crypto has inserted itself into the national debt conversation from multiple angles, as both a potential hedge for investors and, increasingly, as an actual participant in US Treasury markets.
The balanced budget push and why it keeps failing
The latest legislative attempt to impose fiscal discipline came through H.J. Res. 139, a proposed constitutional amendment that would require the federal government to balance its budget. It cleared the House Judiciary Committee, then went to the full House floor and failed 211 to 207 in March 2026. Constitutional amendments require a two-thirds supermajority, so this wasn’t even close.
In fiscal year 2025, 36.5% of individual income tax revenue is going toward servicing the national debt.
