#USNationalDebt The U.S. national debt is a constantly evolving figure. As of May 2025, the total national debt was around $36.2 trillion. This represents a significant increase over recent years, growing by approximately $1 trillion every three months.

Here's a breakdown of what that means and some historical context:

Current State (as of May 2025):

* Total Debt: Approximately $36.2 trillion.

* Per Person Debt: Roughly $106,000 per American.

* Debt as a Percentage of GDP: Around 122% (meaning the debt is larger than the country's annual economic output).

* Interest Payments: The government is expected to pay about $684 billion in interest alone for this fiscal year, which is about 16% of every federal dollar spent. These interest payments are projected to exceed $1 trillion before the decade is out.

Who Owns the Debt?

Roughly three-quarters of the U.S. national debt is held domestically, with the remaining quarter held by foreign investors.

* Domestic Holders:

* U.S. private investors and entities (savings bonds, mutual funds, pension funds): 42%

* Intra-governmental U.S. agencies and trusts: 20%

* Federal Reserve: 13%

* Foreign Holders:

* Japan: $1.13 trillion

* United Kingdom: $779.3 billion (surpassing China as the second-largest foreign holder)

* China: Historically a large holder, its holdings have decreased in recent times.

Historical Trends:

The U.S. has carried debt since its inception. Significant increases in the national debt have historically occurred during:

* Wars: Major conflicts like the Revolutionary War, Civil War, and World Wars saw substantial increases in borrowing to finance military efforts.

* Recessions and Economic Crises: Events like the Great Depression and the 2008 Great Recession led to increased government spending and decreased tax revenue, contributing to debt growth.

* Recent Events: The COVID-19 pandemic, with its associated stimulus programs and increased government spending, caused a sharp rise in the debt from 2019 to 2021. Tax cuts have also contributed to the growing debt.

The debt as a percentage