Policy Currents | The newsletter for policy people
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** Nov. 13, 2025
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How to Reduce the Federal Debt Burden

This year, the federal debt topped $38 trillion, and the United States now spends $1.1 trillion annually on interest payments alone. That's more than the nation spends on defense--or on education, law enforcement, and scientific research combined. Nearly one-quarter of those interest payments flow to other countries, including China.

In a new report, our researchers use the RAND Budget Model to explore how the nation can tackle its debt burden. They look back to the postWorld War II era, when a mix of fiscal restraint and strong economic growth helped shrink the debt from 106 percent of GDP in 1946 to just 23 percent of GDP by 1974.

What would it take to achieve a similar result today? The authors recommend that policymakers combine different policies to increase economic growth, raise revenue, and cut spending. This balanced approach could bring the debt back down to 23 percent of GDP by 2055.

Action is necessary to avoid further negative impacts. As the report authors write in a recent commentary: "If we stay on the current path, more of our tax dollars will go to foreign countries than towards keeping Americans safe, responding to disasters, and delivering on all other national priorities."

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Is China an Emerging Software Power?

China is the world's manufacturing powerhouse, but it lags behind in software and IT services. That may soon change thanks to artificial intelligence. China's output in AI software and IT services is expected to skyrocket over the next several years, fueled in part by massive government investment in AI. According to RAND experts, "China's dominance of the factory floor may soon extend to the office floor."

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Supporting America's Veterans

On a special Veterans Day episode of the Policy Minded podcast, RAND's Carrie Farmer explores what life after service looks like for America's veterans. She discusses how military skills translate to civilian jobs, how veterans seek and receive health care, and more. Farmer also reflects on the meaning of the holiday: "Veterans Day is an opportunity for us to thank [those who have served] and for us to think about how we as a country have benefited from that service."

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** RAND Recommends
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- Most clicked last week: how China's military thinks about command and control.
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- Traumatic brain injury has affected more than 500,000 U.S. service members since 2000. A new RAND report explores the TBI research landscape.
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- RAND Europe's Nicolas Jouan explains South Korea's evolving relationship with Poland and other EU countries.
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** Events
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Can Technological Adaptation Maintain Ukraine's Battlefield Edge?
Wednesday, November 19, 2025 (Online)
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Using Transfer Learning to Detect Populist Rhetoric Across 25 Languages Without Translation
Wednesday, November 19, 2025 (Online)
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The Geopolitics of AGI
Thursday, November 20, 2025 (Online)
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Military Exposures and Mental, Behavioral, and Neurologic Health Outcomes Among Post-9/11 Veterans
Thursday, November 20, 2025 (Online)
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How Can the UK Better Support Its Young People?
Wednesday, November 26, 2025 (Online)
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** Learn Policy Analysis from RAND Experts
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At the RAND School of Public Policy, you'll gain the skills and knowledge needed to shape a better tomorrow. Full-time and part-time master's degree programs are available at our campuses in Santa Monica, CA, and Arlington, VA.

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