What does it mean that the U.S. is $31 Trillion in debt?

Question

To whom? When did we start keeping track? What does it practically mean as I image it will never be paid back?

In: Economics

Answer 1

It’s slightly more complicated than this, but it basically means that there are outstanding government bonds totaling that much. It’s owed to people that bought the bonds and will be paid back as those bonds mature.