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National DebtThe national debt is the total amount of money the federal government has borrowed, plus interest. This borrowed money supplements taxpayer dollars to fund government operations, from national defense to welfare programs.
The US has accrued debt since its infancy. Only seven years into nationhood, debts from the Revolutionary War totaled $43M.
Where and how much the nation should cut spending in order to rein in debt is an ongoing political debate. In recent years, the wars in Afghanistan and Iraq, the 2008 recession, and the COVID-19 pandemic significantly increased the national debt. An aging population coupled with the high price of healthcare—plus global threats like pandemics, wars, and natural disasters—are all contributing to the national debt’s rise.Explore National Debt
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Japan has one of the largest debt-to-GDP ratios among developed countriesOn the face of it, this appears to be a bad sign. But a closer look at Japan’s investment strategies reveals that its relatively high debt might be more sustainable than meets the eye. ReutersThe national debt is the total amount the US government owes its creditorsThis US Treasury page explains what the national debt is, how it accumulates from annual deficits, and why rising debt can affect interest costs, fiscal flexibility, and long-term economic stability. Treasury.govSome economists argue the national debt is not a critical concernThe US has the largest national debt and one of the highest debt-to-GDP ratios. These vitals have long been considered a sign of poor fiscal health, but economists are beginning to shift their attention to interest rates to evaluate national debt. Bloomberg QuicktakeVizualize global debt by countryGlobal debt reached $226T by the end of 2020—the biggest one-year jump since World War II. This graphic compares the debt-to-GDP ratio of various countries. Visual Capitalist
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