The decrease in the federal budget deficit has been touted as an accomplishment by many—most recently by President Obama during his State of the Union Address—but America’s debt situation is far from resolved. The deficit for the 2014 calendar year fell to its lowest level since 2007 due to a $2 billion surplus in December, according to a Department of Treasury report published on January 13th. The government ended 2014 with a total calendar year deficit of $488 billion, $300 billion higher than its 2007 deficit.

While the deficit for 2014 was reduced from its high of $1.5 trillion in 2009, total public debt outstanding increased by almost $800 billion to $18.1 trillion at the end of December, about double of what it was in December 2007. Debt held by the public was just over $13 trillion, over 75 percent of GDP.

The deficit will continue to shrink through the end of 2015, but the Congressional Budget Office projects it will grow again in 2016 to reach $960 billion by 2024.

There is no shortage of examples of how the government wastes tax dollars, such as $125,000 spent on a lavish, invite-only Fourth of July party at the Canadian Embassy, $600,000 on Labor Department propaganda posters, and $5.7 million on climate change games, to name just a few.

Though the government has certainly been frivolous with taxpayer dollars, these comical expenses are not the main drivers of government spending. Spending on discretionary government services most people deem to be essential—roads, schools, defense, national parks, research funding, veterans’ benefits—are not the main problem either.

Rather, interest paid on the debt and mandatory “autopilot” spending on entitlement programs are what will continue to drive the United States further into debt. In its 2014 budget outlook, the CBO identified three components that will increase spending until 2024:

Almost two-thirds of additional spending will be driven by entitlements, primarily Social Security, Medicaid, and Medicare. America’s aging population is the primary contributor to the growth of Social Security and Medicare, while the Affordable Care Act substantially expanded the scope of Medicaid.

Adding interest payments to the budget brings the total increase in the debt from mandatory spending to 85 percent. Spending is projected to grow by $2.3 trillion annually by 2024.

These numbers show that, even though it will be difficult, Congress should prioritize entitlement reform to reduce government spending. However, there is much low-hanging fruit to cut in terms of government waste.