#USNationalDebt

The national debt consists of different types of debts, such as those of an individual, which may be made up of a mortgage, an auto loan, or credit cards. These different types of debts include negotiable or non-negotiable securities, and can be held by the public or by the government itself (what is called intragovernmental debt).

The United States has been in debt since its founding. The debts incurred during the American Revolutionary War amounted to 75 million dollars, primarily borrowed from domestic investors and the French government for the purchase of war materials.

The national debt allows the federal government to finance important programs and services for the American public.

The national debt has increased every year over the past ten years. During this period, interest charges have remained relatively stable due to low interest rates and investor appreciation that the risk of default by the U.S. government is very low. However, recent increases in interest rates and inflation are now leading to a rise in interest charges.