United States National Debt
As of December 15, 2015, the U.S. is $18.8 trillion in debt.
What is the National Debt?
The national debt - aka the federal debt - is the total of all the past years' budget deficits, minus what the government has paid off with budget surpluses.
Deficits are common: in the last half century, the federal government has run a deficit in 45 out of 50 years. If the government runs a deficit, the U.S. Treasury borrows money to make up the difference between how much money is being spent and how much money is coming in – thus creating federal debt.
