Once upon a time, it was an absolute political and economical scandal when the US government ran up an annual deficit of a trillion dollars. [1]
Under Trump's tax cuts for the rich and bloated spending for his pet projects and well-connected contractors, the USA just ran up a $432 billion deficit ... in July. In one month. At that rate, you're looking at an annual deficit in the five trillion dollar range.
The accumulated debt is "only" 40 trillion or so, for what that's worth.
The USA will *never* repay this debt. It's not possible. And in the current political system, they will not get their budget deficits under control - no chance, at all.
How do they keep the money train going, you ask? It's because other countries park their money in US Treasury bonds and other US-denominated holdings. There is a built-in demand for US currency that doesn't depend on financial performance of the USA at all. This demand has existed ever since the end of the Bretton Woods system.
And it's primarily because of oil.
If you ignore the the recent Russian sanctioned oil sales (via their shadow fleet of tankers) to India and some other countries, essentially all oil is traded in US dollars.
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[1] Before that, it was a similar scandal when the accumulated debt of the USA reached a trillion dollars.
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