The national federal debt, also known as the public debt, is the total amount of money that the U.S. government owes to individuals, businesses, and other countries. It is the accumulation of all the deficits the country has run since its founding. The debt is financed through the issuance of Treasury securities, which are essentially IOUs that promise to pay back the lender with interest.
The national federal debt is a complex issue with a long history. The debt has grown significantly in recent decades, and it is now over $30 trillion. This has led to concerns about the sustainability of the debt and its potential impact on the economy. However, the debt is also seen by some as a necessary tool for financing government spending and stimulating economic growth.