Anna Helhoski

So the national debt grows when the government spending and interest expenses grow faster than revenue can offset. Increased spending, along with tax cuts, have led to where we are now. Now, going way back in U.S. history, we've often seen national debt spikes during wars, the Revolutionary War, Civil War, World War I, and World War II.

So the national debt grows when the government spending and interest expenses grow faster than revenue can offset. Increased spending, along with tax cuts, have led to where we are now. Now, going way back in U.S. history, we've often seen national debt spikes during wars, the Revolutionary War, Civil War, World War I, and World War II.

In the last couple of decades, the government borrowed a significant amount during the Afghanistan and Iraq wars, as well as the 2008 recession. And the national debt has risen every year over the last 10 years. There are two big reasons why we arrived at that $36.2 trillion amount.

In the last couple of decades, the government borrowed a significant amount during the Afghanistan and Iraq wars, as well as the 2008 recession. And the national debt has risen every year over the last 10 years. There are two big reasons why we arrived at that $36.2 trillion amount.

In the last couple of decades, the government borrowed a significant amount during the Afghanistan and Iraq wars, as well as the 2008 recession. And the national debt has risen every year over the last 10 years. There are two big reasons why we arrived at that $36.2 trillion amount.

During the first Trump administration, we saw broad new tax cuts implemented, which meant that the federal government has been bringing in less tax revenue. And then spending increased significantly during the pandemic. From 2019 to 2021, spending increased 50%.

During the first Trump administration, we saw broad new tax cuts implemented, which meant that the federal government has been bringing in less tax revenue. And then spending increased significantly during the pandemic. From 2019 to 2021, spending increased 50%.

During the first Trump administration, we saw broad new tax cuts implemented, which meant that the federal government has been bringing in less tax revenue. And then spending increased significantly during the pandemic. From 2019 to 2021, spending increased 50%.

Its creditors own the debt. That includes the American public, foreign governments, other securities holders, and government agencies. The national debt is made up almost entirely of treasury securities. And there are two types. Marketable securities, so assets that can be bought and sold quickly, like bonds, bills, or company shares.

Its creditors own the debt. That includes the American public, foreign governments, other securities holders, and government agencies. The national debt is made up almost entirely of treasury securities. And there are two types. Marketable securities, so assets that can be bought and sold quickly, like bonds, bills, or company shares.

Its creditors own the debt. That includes the American public, foreign governments, other securities holders, and government agencies. The national debt is made up almost entirely of treasury securities. And there are two types. Marketable securities, so assets that can be bought and sold quickly, like bonds, bills, or company shares.

And non-marketable securities, financial securities that can't be easily sold, like U.S. savings bonds or shares of a private company. Now, those securities fall into two categories, publicly held debt and intra-governmental debt. And then how do those shake out? Roughly 80% of the national debt is publicly held debt. That's any federal debt held by entities outside the federal government.

And non-marketable securities, financial securities that can't be easily sold, like U.S. savings bonds or shares of a private company. Now, those securities fall into two categories, publicly held debt and intra-governmental debt. And then how do those shake out? Roughly 80% of the national debt is publicly held debt. That's any federal debt held by entities outside the federal government.

And non-marketable securities, financial securities that can't be easily sold, like U.S. savings bonds or shares of a private company. Now, those securities fall into two categories, publicly held debt and intra-governmental debt. And then how do those shake out? Roughly 80% of the national debt is publicly held debt. That's any federal debt held by entities outside the federal government.

The remaining 20% is intra-governmental debt, which is money that's essentially passed back and forth by government departments. As of now, the total outstanding national debt breaks down to $7.3 trillion in intergovernmental holdings and $28.9 trillion owned by the public.

The remaining 20% is intra-governmental debt, which is money that's essentially passed back and forth by government departments. As of now, the total outstanding national debt breaks down to $7.3 trillion in intergovernmental holdings and $28.9 trillion owned by the public.

The remaining 20% is intra-governmental debt, which is money that's essentially passed back and forth by government departments. As of now, the total outstanding national debt breaks down to $7.3 trillion in intergovernmental holdings and $28.9 trillion owned by the public.

Sure. So let's first break down publicly held debt. It's essentially money borrowed from outside lenders through financial markets. That includes the Federal Reserve System, mutual funds, state and local governments, depository institutions, pension funds, insurance companies, foreign countries, and other domestic holders.

Sure. So let's first break down publicly held debt. It's essentially money borrowed from outside lenders through financial markets. That includes the Federal Reserve System, mutual funds, state and local governments, depository institutions, pension funds, insurance companies, foreign countries, and other domestic holders.

Sure. So let's first break down publicly held debt. It's essentially money borrowed from outside lenders through financial markets. That includes the Federal Reserve System, mutual funds, state and local governments, depository institutions, pension funds, insurance companies, foreign countries, and other domestic holders.