#USNationalDebt

The US national debt has surpassed $37 trillion, with the debt-to-GDP ratio standing at around 123%. This means every citizen carries a share of over $107,000, while the average taxpayer's share exceeds $323,000. Here's a breakdown:

Total National Debt: Over $37 trillion

Debt-to-GDP Ratio: 123%, more than double the rate seen in the mid-twentieth century.

Interest Paid: Exceeds $5.46 trillion for combined public, household, and business debt.

Servicing Costs: Interest payments on debt have crossed $1 trillion, with $678 billion in cash interest and $875 billion including intragovernmental debt in FY 2023.

Growth Rate: The national debt has doubled in the past decade, driven by recessionary responses and pandemic relief, with projections indicating continued growth without policy changes.

The rising national debt has raised concerns about the long-term sustainability of the federal government's fiscal policies, prompting a credit downgrade from Moody's to Aa1, citing an unsustainable fiscal trajectory.