The U.S. National Debt: A $36.1 Trillion Question
The raw numbers are staggering: America’s national debt has hit $36.1 trillion. Of this total, $28.8 trillion is held by the public, while $7.3 trillion represents intergovernmental holdings—money the government essentially owes to itself.
As a financial markets analyst of 25 years, I’m often asked about America’s national debt. The number itself—$36.1 trillion—is almost incomprehensible. For perspective: counting to this sum at one dollar per second would take nearly 1.15 million years.
But the magnitude isn’t what matters most. The critical question is how we’re deploying this capital.
There’s a fundamental difference between debt that builds our future and debt that sustains our present. When we finance infrastructure development, scientific research, or educational advancement, we’re making strategic investments in tomorrow’s America. Using debt for routine operations, however, is akin to financing daily expenses with long-term borrowing.
A crucial metric: our debt-to-GDP ratio has reached 100%. Each dollar of American productivity is now matched by a dollar of federal obligations. While this isn’t cause for immediate alarm, it demands thoughtful consideration.
The path forward requires neither panic nor complacency, but rather strategic foresight about our national investments. We must ask ourselves: How can we leverage debt to ensure the next generation inherits a more robust economy than we did?
I welcome your thoughts on which strategic investments should take priority in strengthening America’s economic foundation.