The gross federal debt of the United States has surpassed $38,000,000,000,000. Although the debt affects each of us, it may be difficult to put such a large number into perspective and fully understand its implications. The infographic below offers different ways of looking at the debt and its relationship to the economy, the budget, and American families.
America’s high and rising debt matters because it threatens our economic future. The COVID-19 pandemic rapidly accelerated our fiscal challenges, but we were already on an unsustainable path, with structural drivers that existed long before the pandemic. Putting our nation on a better fiscal path will help ensure a stronger and more resilient economy for the future.
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Further Reading
What Is the National Debt Costing Us?
Programs that millions of Americans depend on and care about may be feeling a squeeze from interest costs on our high and rising national debt.
Interest Costs on the National Debt Are Reaching All-Time Highs
The most recent CBO projections confirm once again that America’s fiscal outlook is on an unsustainable path — increasingly driven by higher interest costs.
New Report: National Debt Outlook Gets Worse as Interest Costs Exceed $1 Trillion Annually
A new CBO report shows that the national debt outlook worsened from last year’s projections.