#USNationalDebt The U.S. national debt exceeds $34 trillion as of mid-2025, representing the total amount the federal government owes to creditors. It includes debt held by the public and intragovernmental holdings. The debt has grown due to persistent budget deficits, where annual government spending surpasses revenue. Major contributors include defense, healthcare, Social Security, and interest payments. Economic stimulus programs and tax cuts have also expanded the debt. Rising interest rates have increased the cost of borrowing, making debt servicing more expensive. Concerns remain about long-term fiscal sustainability, though the U.S. dollar’s global reserve status helps maintain investor confidence.