#USNationalDebt

The growing debt of America is the result of simple mathematics: every year there is a mismatch between spending and income.

When the federal government spends more than it receives, it has to borrow money to cover this annual deficit. And every year, the deficit increases our growing national debt.

Historically, the largest deficits have been caused by increased spending due to nationwide emergencies, such as major wars or the Great Depression.

Today, deficits are mainly caused by predictable structural factors: an aging baby boom generation, rising healthcare costs, higher interest rates, and a tax system that does not bring in enough money to pay for what the government has promised its citizens. Moving forward, it will be crucial for America's leaders to address our growing debt and its structural factors, which are described below.