Why High and Rising National Debt is a Problem High and rising national debt will threaten economic growth and the standard of living for all Americans. High debt will slow the growth of the economy and wages. As debt rises, higher interest payments will crowd out important investments in areas like education, infrastructure, and research that can help grow the economy. Getting the debt under control once the crisis is over will be very beneficial for generations to come, from higher wages to increased investment to lower borrowing costs for families and businesses. The Congressional Budget Office predicts that the economy will grow faster with debt on a declining path as opposed to a rising one