#USNationalDebt The U.S. national debt is the total amount the federal government owes to creditors, both domestic and foreign. It consists of two main parts: public debt (held by individuals, corporations, and foreign governments) and intragovernmental debt (borrowed from government trust funds like Social Security). As of 2025, the debt exceeds $34 trillion, driven by spending on defense, healthcare, social programs, and interest payments. Persistent budget deficits—when spending exceeds revenue—fuel this growth. While manageable short-term, rising debt can threaten economic stability, raise borrowing costs, and reduce government flexibility. Policymakers face pressure to balance fiscal responsibility with economic growth and social needs.