#USNationalDebt The U.S. national debt refers to the total amount of money the federal government owes to creditors, both domestic and international. As of 2025, it exceeds $34 trillion, driven by decades of budget deficits, military spending, entitlement programs, tax cuts, and emergency responses like COVID-19 relief. The debt is primarily financed through Treasury securities. Interest payments on the debt consume a growing portion of the federal budget, raising concerns about long-term fiscal sustainability. Economists debate the risks: some argue high debt can crowd out private investment or limit future policy flexibility, while others say the U.S. can manage it due to the dollar’s global dominance. Still, rising debt demands serious policy attention and reform.