#USNationalDebt pf-mobile-nav-logo
what is the National Debt today?
$36,219,065,869,789
That's$106,109 for every
single person in America
scroll to learn more
line - chart 6
Why is the National Debt
so high?
America's growing debt is the result of simple math — each year, there is a mismatch between spending and revenues.
When the federal government spends more than it takes in, it has to borrow money to cover that annual deficit. And each year’s deficit adds to our growing national debt.
Historically, the largest deficits were caused by increased spending around national emergencies like major wars or the Great Depression.
Today, deficits are caused mainly by predictable structural factors: our aging baby-boom generation, rising healthcare costs, higher interest rates, and a tax system that does not bring in enough money to pay for what the government has promised its citizens. Moving forward, it will be critical for America’s leaders to address our rising debt, and its structural factors, which are described below.
America faces many challenges including rising inequality, unaffordable healthcare, climate change, education affordability, and unpredictable security threats. To address these challenges we will need significant resources. Every dollar that goes toward interest payments means less resources available to invest in a stronger, more resilient future.
