#USNationalDebt The U.S. national debt is the total amount of money the federal government owes to creditors, including the public, foreign governments, and other U.S. government accounts. As of 2025, it exceeds $34 trillion, driven by years of spending more than revenue. Major contributors include military expenditures, healthcare, Social Security, tax cuts, and emergency measures like COVID-19 relief. The debt is divided into two parts: public debt (held by individuals, institutions, and foreign nations) and intragovernmental holdings (owed to federal agencies). High debt raises concerns about inflation, rising interest payments, and long-term economic stability. However, some economists argue that with low interest rates and strong GDP growth, the debt remains manageable—at least for now.