It has dipped before and gone back up. Eventually, it will make a downward trend, making borrowing more and more expensive, accelerating the issue.
When faced with cutting entitlements or raising taxes, Americans will first demand a complete disposal of undeveloped federal public lands - anything that is not a designated as a park, monument, military installation, or wilderness.
We are behind the 8-ball to make federal lands profitable as the only escape from disposal. Reforming APA (nonprofits suing federal government free of charge), hard rock mineral royalties, AUM, etc. might need to be the highest priority for hunters, at least when the political environment is more conducive to making any kind of meaningful change.