#USNationalDebt The US national debt is a complex topic, but here are the key points:

Current Status

- Total national debt: $36.56 trillion as of March 6, 2025

- Debt held by the public: $29 trillion

- Intragovernmental holdings: $7.4 trillion

Breakdown

- *Debt Held by the Public*: Treasury securities held by investors outside the federal government, including individuals, corporations, and foreign governments

- *Intragovernmental Debt*: Non-marketable Treasury securities held in accounts of programs administered by the federal government, such as the Social Security Trust Fund

Historical Context

- The US national debt has been increasing due to government spending and budget deficits

- The COVID-19 pandemic led to a significant surge in debt, with the budget deficit reaching $3.3 trillion in fiscal year 2020

- The Congressional Budget Office (CBO) projects that federal debt held by the public will rise to 116% of GDP by 2034 and continue growing if current laws remain unchanged

Implications

- The annualized cost of servicing the debt was $726 billion in July 2023, accounting for 14% of total federal spending

- The growing national debt raises concerns about the long-term sustainability of the federal government's fiscal policies¹