Supreme How the U.S. Government Amassed $31 Trillion in Debt

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The U.S. debt has more than doubled in the last decade, to $27 trillion from $12 trillion. In the 10 years before that, it nearly tripled, to $12 trillion from $4 trillion.

Much of that growth has been financed by foreign investors, including China and Japan, who have been willing to lend money to the United States at low interest rates. That has allowed Washington to keep borrowing even as the federal government has run annual deficits totaling more than $6 trillion since 2020.
The U.S. government has amassed $31 trillion in debt. This is six times what the debt was at the start of the 21st century and is the largest it has been compared to the size of the economy since WWII. The debt is projected to grow an average of $1.3 trillion per year for the next decade.

Source: https://www.nytimes.com/2023/01/22/busin...story.html