#USNationalDebt

The U.S. national debt now exceeds $36 trillion, with $28.8 trillion held by the public and about $7.3 trillion internally among federal accounts . It stands at roughly 124% of GDP, nearing record post‑World War II levels . Interest payments now consume nearly $1 trillion annually, more than defense spending . The consequences include credit‑rating downgrades and calls for fiscal restraint, even as Congress debates major deficit‑adding legislation like the “One Big Beautiful Bill” . While Treasury Secretary Bessent assures no default will happen, long-term risks persist without structural budget reform .