The national debt is the cumulative total of money the federal government has borrowed to cover budget deficits. It includes money owed to individuals, corporations, foreign governments, and other entities.
National debt affects government spending priorities, economic stability, and intergenerational equity. It represents ongoing debates about fiscal responsibility.
National debt isn't like household debt—governments can create money and have different borrowing capabilities than individuals.
National debt affects government spending priorities, economic stability, and intergenerational equity. It represents ongoing debates about fiscal responsibility.
National debt isn't like household debt—governments can create money and have different borrowing capabilities than individuals.