#USNationalDebt
The U.S. national debt represents the total amount the federal government owes to creditors. As of 2025, it exceeds $34 trillion, driven by years of budget deficits where government spending surpassed revenue. Key contributors include defense spending, Social Security, Medicare, and interest on existing debt. During economic downturns and crises like COVID-19, borrowing surged to stimulate the economy. Rising interest rates have increased the cost of servicing the debt, sparking concerns about long-term fiscal sustainability. While the U.S. can borrow due to its strong credit and the dollar's global status, growing debt poses risks for future economic stability and policy flexibility.