#USNationalDebt

The U.S. National Debt (#USNationalDebt) is the total amount owed by the U.S. federal government to creditors, and it is considered one of the largest sovereign debts in the world. It currently exceeds $34.7 trillion and is continuously increasing due to the annual deficit between revenues and expenditures. This debt is financed by issuing Treasury bonds purchased by individuals, corporations, and global central banks.

The debt is a burden on the federal budget, as the government spends hundreds of billions annually just on interest. The exacerbation of the debt is due to factors such as spending on wars, tax cuts, and support programs like Social Security and healthcare.

The continued rise poses a risk to the economy by increasing interest rates and reducing investments, prompting some to call for radical financial reforms.

Sources:

U.S. Treasury Department

US Debt Clock

Congressional Budget Office (CBO)