Final answer:
The total amount the U.S. government owes as of March 2021 is $22 trillion. Throughout history, the government has incurred debt during wartime and in peacetime, resulting in annual budget deficits. Governments focus on their ability to borrow based on their payment history.
Step-by-step explanation:
The total amount the government owes over the course of history, also known as the national debt, is a significant concern. As of March 2021, the U.S. government's total debt stands at $22 trillion.
Throughout history, the U.S. government has taken on debt during wartime and paid it down slowly in peacetime. However, in recent decades, the government has also incurred substantial debts in peacetime, resulting in annual budget deficits.
It's important to note that governments don't completely pay off their debt, but rather focus on their ability to borrow based on their payment history.