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

Government debt does not work like personal debt. 

Most of it is held by the American people in the form of bonds. The interest that the bonds accrue is the interest that the government is spending on the debt. When it matures the gov has paid off that debt.