#USNationalDebt The US national debt is approximately $36.56 trillion, with $29 trillion held by the public and $7.4 trillion in intragovernmental debt. This debt has been increasing over time, with a significant jump during the COVID-19 pandemic. The annualized cost of servicing this debt was $726 billion in July 2023, accounting for 14% of total federal spending. The debt-to-GDP ratio is projected to rise to nearly 100% by 2028 and 116% by 2034. Key drivers of the growing national debt include ¹ ²:

- *Demographics*: Aging population and increased life expectancy putting pressure on programs like Social Security and Medicare

- *Rising Healthcare Costs*: Growing healthcare expenses and an aging population

- *Higher Interest Rates*: Increased borrowing costs due to rising interest rates and a growing debt burden