#USNationalDebt

The US national debt is approximately $36.56 trillion, with $29 trillion held by the public and $7.4 trillion in intragovernmental debt. To break it down further ¹:

- *Total Federal Debt*: $36.56 trillion

- *Debt Held by the Public*: $29 trillion

- *Intragovernmental Debt*: $7.4 trillion

The national debt has been increasing over the years, with a significant surge during the COVID-19 pandemic. The Congressional Budget Office (CBO) projects that the debt held by the public will rise to 116% of GDP by 2034 and potentially reach 172% of GDP by 2054 if current laws remain unchanged.

*Key Factors Contributing to the Growing National Debt* ²:

- *Demographics*: America's aging population, with 10,000 people turning 65 every day through 2030, puts pressure on the federal budget, particularly on 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.

- *Inadequate Revenues*: The US tax system doesn't generate enough revenue to cover spending, leading to higher annual deficits and mounting debt.

*Impact of the National Debt*:

- *Interest Payments*: The government spends over $2.6 billion on interest every day, which is the fastest-growing part of the federal budget.

- *Burden on Future Economy*: Rapidly growing interest payments hinder the future economy and reduce resources available for investing in a stronger, more resilient future ².