#USNationalDebt

The growing debt of the United States is the result of a simple mathematical operation: each year there is a mismatch between spending and revenue.

When the federal government spends more than it earns, it must borrow to cover that annual deficit. And each year's deficit adds to our growing national debt.

Historically, the largest deficits were due to increased spending on national emergencies, such as major wars or the Great Depression.