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26 Feb

National Debt: The Ruin of Great Powers

Debt Has Always Been the Ruin of Great Powers. Is the U.S. Next?

As of January 2, 2025, the US national debt was $36.2 trillion, or $106,024 per person. This is based on a US population of people living in the US. 
Explanation
  • The US national debt is the total amount of money the US government owes. 
  • The debt per person increases as the national debt increases and the US population changes. 
  • The average interest rate on the national debt has increased since 2021, which means more money goes toward servicing the debt. 
Additional information 
  • The US national debt is 7.1 times the amount of federal revenues collected in a year.
  • The US national debt is 125% of the US’s annual economic output (GDP).
  • The US national debt is 78% more than all the consumer debt of US households combined.

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