#USNationalDebt The US national debt is approximately $36.56 trillion, with $29 trillion held by the public and $7.4 trillion in intragovernmental debt. To break it down further:

- *Total Public Debt Outstanding*: The national debt includes debt held by the public and intragovernmental holdings, such as Treasury Bills, Notes, Bonds, and other securities.

- *Debt Held by the Public*: This includes Treasury securities held by investors outside the federal government, like individuals, corporations, and foreign governments.

- *Intragovernmental Debt*: Non-marketable Treasury securities held in accounts of programs administered by the federal government, such as the Social Security Trust Fund.

The national debt has been increasing over the years, with notable spikes during:

- *Major Wars*: Wars and national emergencies have historically driven up debt.

- *The Great Recession*: The 2008 financial crisis led to significant tax revenue declines and spending increases.

- *The COVID-19 Pandemic*: Government spending surged in response to the pandemic, contributing to the growing debt.

The growing national debt is attributed to:

- *Demographics*: An aging population and increased retirement age put pressure on federal programs like Social Security and Medicare.

- *Rising Healthcare Costs*: Increasing healthcare expenses strain the federal budget.

- *Inadequate Revenues*: The US tax system doesn't generate enough revenue to cover spending.

The consequences of a high national debt include³:

- *Increased Interest Payments*: As debt grows, so do interest payments, which can hinder future economic growth.

- *Reduced Investment*: Rising debt may lead to decreased investment in vital programs and services.

- *Fiscal Challenges*: The US faces significant fiscal challenges, including rising inequality, unaffordable healthcare, and climate change.