#USNationalDebt The U.S. national debt refers to the total amount of money that the federal government owes to creditors, including public and foreign entities. As of October 2023, the national debt exceeds $33 trillion. Factors contributing to this debt include budget deficits from government spending exceeding revenues, economic downturns, and expensive entitlement programs like Social Security and Medicare. High national debt can lead to increased interest rates, inflation, and reduced government investment in public services. Managing this debt is critical for long-term economic stability, prompting debates on fiscal policy, taxation, and spending cuts.