The current US national debt stands at approximately $36.214 trillion, as of Q1 2025. To break it down further¹:

- *Debt Held by the Public*: Around $29 trillion, which accounts for about 77% of the country's GDP

- *Intragovernmental Debt*: Approximately $7.4 trillion, owed to government agencies such as the Social Security Administration

The national debt has been increasing over the years, driven by factors such as:

- *Aging Demographics*: The retiring baby-boom generation puts pressure on the federal budget, particularly on programs like Social Security and Medicare

- *Rising Healthcare Costs*: Healthcare expenses account for a significant portion of the budget and are expected to continue growing

- *Higher Interest Rates*: Increased borrowing costs due to higher interest rates contribute to the growing national debt

The US government's fiscal situation is concerning, with the Congressional Budget Office (CBO) projecting that federal debt held by the public will rise from 99% of GDP in 2024 to 116% in 2034. This growing debt burden may have implications for the country's economic stability and require policymakers to address the structural factors driving the debt.² ³$BTC