United States National Debt: A Major Challenge

The national debt of the United States has reached a record level, currently around $36.2 trillion as of May 2025. This is the total amount of money the federal government has borrowed throughout history to cover expenditures that exceed revenue. The main causes of the skyrocketing debt include spending on social welfare programs (such as Social Security and Medicare), rising healthcare costs, military spending, and economic stimulus packages during times of recession or crisis such as the COVID-19 pandemic.

The consequences of this massive debt are significant. The interest costs to maintain the debt are rising rapidly, accounting for a substantial portion of the federal budget and potentially reducing the ability to invest in critical areas such as education, research, and infrastructure. High debt also poses the risk of increasing overall interest rates, reducing private investment, and may lead to a decline in confidence in the U.S. dollar. This is a major challenge that requires long-term policy solutions to ensure the fiscal stability of the United States.