#USNationalDebt The U.S. national debt represents the total amount the federal government owes to creditors, both domestic and foreign. It includes public debt held by investors and intragovernmental holdings. As of recent years, the debt has surpassed $34 trillion, driven by persistent budget deficits, military spending, tax cuts, and social programs. High national debt can lead to rising interest payments, reduced economic flexibility, and potential inflationary pressure. While borrowing helps fund essential government services and stimulate the economy during downturns, long-term debt growth raises concerns about fiscal sustainability and intergenerational equity, prompting debates about spending reforms and revenue adjustments in U.S. policy.