#USNationalDebt As of 2025, the U.S. national debt exceeds $34 trillion, reflecting decades of federal budget deficits. The debt grows when the government spends more than it collects in revenue, borrowing to cover the shortfall. Key contributors include defense spending, Social Security, Medicare, and interest on existing debt. Economic crises, like the COVID-19 pandemic, also significantly increased borrowing. The debt is held by the public through Treasury securities and by government accounts like trust funds. Rising interest rates intensify repayment burdens. While manageable in the short term, long-term debt growth raises concerns about fiscal sustainability, economic stability, and the burden on future generations.