The national debt of the United States is the total amount of money that the U.S. federal government owes to Treasury bondholders. The total U.S. federal debt is approximately $36.56 trillion

*Components of national debt:*

- *Public debt*: Represents the amount the government owes to bondholders, including individuals, corporations, and foreign financial institutions.

- *Intragovernmental debt*: Represents the amount the government owes to its internal accounts, such as the Social Security Trust Fund.

*Reasons for the growth of national debt:*

- *Government spending*: Increased government spending can lead to an increase in national debt.

- *Taxes*: Insufficient taxes contribute to the increase in national debt.

- *Economic crises*: Economic crises, such as the COVID-19 pandemic, can lead to an increase in national debt due to increased government spending and reduced revenues.