#USNationalDebt

The US national debt is approximately $36.2 trillion as of May 2025, with a per-person debt of around $106,000. This debt has been increasing over time due to the government's spending exceeding its revenue, resulting in budget deficits. Here are some key points to understand the US national debt:

- *Current Debt*: The total national debt is $36.2 trillion, which is 2% higher than in May 2024 and 31% higher than in 2019.

- *Per-Person Debt*: The federal debt per person is around $106,000, based on a total debt of $36.2 trillion and a population of approximately 340 million people.

- *Debt-to-GDP Ratio*: The national debt is 121% of the country's Gross Domestic Product (GDP), indicating a significant burden on the economy.

- *Interest Payments*: The government pays interest on its debt, which accounted for 10.7% of government spending in FY 2023.

- *Factors Contributing to Debt*: The growing national debt is attributed to demographic trends, rising healthcare costs, and a tax system that doesn't generate enough revenue to cover government expenses.

*Breaking Down the Debt*

- *Debt Held by the Public*: $29 trillion (77% of GDP)

- *Intragovernmental Holdings*: $7.4 trillion

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*Projections and Concerns*

- The Congressional Budget Office (CBO) projects that the federal debt held by the public will rise from 99% of GDP in 2024 to 116% in 2034.

- Rising interest costs and mandatory spending are expected to drive up debt levels.

- The increasing debt burden may impact the country's ability to pay down its debt and affect its fiscal situation.