#USNationalDebt

🇺🇸 U.S. National Debt Update: $36.21 Trillion! 💸

As of September 30, 2024, the U.S. national debt stands at a staggering $36.21T, according to the Debt to the Penny dataset. This is the total amount the federal government has borrowed to cover expenses over time, like a credit card balance that keeps growing when spending exceeds revenue.

📊 Key Facts:

• The debt is a mix of marketable (e.g., Treasury bonds) and non-marketable securities, held by the public and intragovernmental entities.

• Debt has grown since the Revolutionary War ($75M in 1791) to $35.46T in 2024, with spikes from wars, the 2008 Recession, and COVID-19 spending.

• Debt-to-GDP ratio hit 123% in 2024, showing the U.S. owes more than its annual economic output, making repayment tougher.

💡 Why it matters: The national debt funds critical programs and services, but persistent deficits drive it higher. Curious about the breakdown? Check USAspending.gov for details!