The America national debt refers to the total amount of money that the U.S. government owes to individuals, businesses, and other countries. It is the accumulation of all the budget deficits the government has run since 1789, minus any budget surpluses.
The national debt is important because it can have a significant impact on the economy. A high level of debt can lead to higher interest rates, which can make it more expensive for businesses to borrow money and invest. This can slow economic growth and lead to job losses. Additionally, a high level of debt can also make it more difficult for the government to respond to economic crises, such as recessions.