#USNationalDebt

The US national debt is currently approximately $36.56 trillion, with debt held by the public around $29 trillion and intragovernmental holdings at $7.4 trillion. To put this into perspective, that's roughly $106,109 for every single person in America.

*Breaking Down the Debt:*

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

- *Intragovernmental Holdings:* $7.4 trillion, representing amounts owed to program beneficiaries like Social Security Trust Fund

*Factors Contributing to the Growing National Debt:*

- *Demographics:* America's aging population, with 10,000 people turning 65 every day through 2030, puts pressure on federal programs like Social Security and Medicare

- *Rising Healthcare Costs:* Healthcare represents nearly one-fifth of the US economy and is a fast-growing part of the budget

- *High Interest Rates:* Increased interest rates raise borrowing costs for the government, businesses, and households

*Impact of the National Debt:*

- *Interest Payments:* Net interest payments on the national debt have soared, reaching $239 billion (34% increase) in FY2024 due to high interest rates and growing debt burden

- *Budget Deficits:* The US government ran a cumulative deficit of $1.8 trillion in FY2024 despite an 11% increase in revenues ¹ ²