US National Debt

Extracted Attributes

• Type

  Total national debt owed by the federal government

• Components

  Debt held by the public, Debt held by government accounts (intragovernmental debt)

• Historical Impact Factors

  Wars, recessions, pandemics

• Increase Rate (past year)

  Averaged $4.54 billion per day

• Primary Drivers of Decrease

  Budget surpluses

• Primary Drivers of Increase

  Budget deficits, government spending exceeding receipts, increasing interest costs, mandatory spending outpacing revenue and economic growth, aging demographics, rising healthcare costs

• Classification of Securities

  Marketable (Treasury notes, bills, bonds), Non-marketable (Government account series)

• Increase per Person (past year)

  $4,892.55

• Foreign Holdings (December 2021)

  $7.7 trillion

• Total Debt per Person (May 2025)

  $106,442

• Increase per Household (past year)

  $12,589.28

• Total Debt per Household (May 2025)

  $273,891

• Current Total Debt (as of 2025-06-26)

  $36,215,806,064,740.36

• Annualized Cost of Servicing (July 2023)

  $726 billion

• Debt as Percentage of GDP (December 2021)

  96.19%

• Debt Held by the Public (as of 2025-06-26)

  $28,887,012,425,608.74

• Projected Debt as Percentage of GDP (2024)

  99% (CBO estimate)

• Projected Debt as Percentage of GDP (2034)

  116% (CBO estimate)

• Projected Debt as Percentage of GDP (2054)

  172% (CBO estimate)

• Intragovernmental Holdings (as of 2025-06-26)

  $7,328,793,639,131.62

• Percentage of Total Federal Spending (July 2023)

  14%

• Average Interest Rate on Marketable Debt (April 2025)

  3.354%

Timeline

• US accumulated over $75 million in debt during the Revolutionary War. (Source: Investopedia)

  1775-04-19

• US debt increased to over $2 billion by the end of the Civil War. (Source: Investopedia)

  1865-04-09

• The 2020 budget deficit as a percentage of GDP was the largest since this year. (Source: Wikipedia)

  1945

• Rapid expansion of total national debt began. (Source: Investopedia)

  2008

• Fiscal year budget deficit increased to $3.3 trillion or 16% GDP due to COVID-19 aid and economic relief. (Source: Wikipedia)

  2020

• Debt held by the public was estimated at 96.19% of GDP. (Source: Wikipedia)

  2021-12-31

• Foreign entities held $7.7 trillion of U.S. Treasury securities. (Source: Wikipedia)

  2021-12-31

• Total US federal government debt breached the $30 trillion mark for the first time. (Source: Wikipedia)

  2022-02-01

• Annualized cost of servicing the debt was $726 billion, accounting for 14% of total federal spending. (Source: Wikipedia)

  2023-07-31

• Total federal debt was $33.1 trillion. (Source: Wikipedia)

  2023-12-31

• Total federal government debt rose to $34.4 trillion. (Source: Wikipedia)

  2024-02-29

• Federal interest payments on the national debt surpassed spending on both Medicare and national defense. (Source: Wikipedia)

  2024

• Federal government debt stood at $36.56 trillion. (Source: Summary, Wikipedia)

  2025-03-06

• Total gross national debt was $36.21 trillion. (Source: Joint Economic Committee)

  2025-05-05

• Total Public Debt Outstanding was $36,215,806,064,740.36. (Source: U.S. Treasury Fiscal Data (Debt to the Penny))

  2025-06-26

• CBO projected federal debt held by the public to rise to 116 percent of GDP. (Source: Wikipedia)

  2034

• CBO projected federal debt held by the public to rise to 172 percent of GDP. (Source: Wikipedia)

  2054

National debt of the United States

The "national debt of the United States" is the total national debt owed by the federal government of the United States to treasury security holders. The national debt at a given point in time is the face value of the then outstanding treasury securities that have been issued by the Treasury and other federal agencies. Related terms such as "national deficit" and "national surplus" most often refer to the federal government budget balance from year to year and not the cumulative amount of debt held. In a deficit year, the national debt increases as the government needs to borrow funds to finance the deficit. In a surplus year, the debt decreases as more money is received than spent, enabling the government to reduce the debt by buying back Treasury securities. Broadly, US government debt increases as a result of government spending and decreases from tax or other funding receipts, both of which fluctuate during a fiscal year. The aggregate, gross amount that Treasury can borrow is limited by the United States debt ceiling. There are two components of gross national debt: "Debt held by the public" – such as Treasury securities held by investors outside the federal government, including those held by individuals, corporations, the Federal Reserve, and foreign, state and local governments. "Debt held by government accounts" or "intragovernmental debt" – is non-marketable Treasury securities held in accounts of programs administered by the federal government, such as the Social Security Trust Fund. Debt held by government accounts represents the cumulative surpluses, including interest earnings, of various government programs that have been invested in Treasury securities. Historically, the U.S. public debt as a share of gross domestic product (GDP) increases during wars and recessions and then subsequently declines. For instance, most recently, during the COVID-19 pandemic, the federal government spent trillions in virus aid and economic relief. The Congressional Budget Office (CBO) estimated that the budget deficit for fiscal year 2020 would increase to $3.3 trillion or 16% GDP, more than triple that of 2019 and the largest as a percentage of GDP since 1945. In December 2021, debt held by the public was estimated at 96.19% of GDP, and approximately 33% of this public debt was owned by foreigners (government and private). The ratio of debt to GDP may decrease as a result of a government surplus or via growth of GDP and inflation. The CBO estimated in February 2024 that Federal debt held by the public is projected to rise from 99 percent of GDP in 2024 to 116 percent in 2034, and would continue to grow if current laws generally remained unchanged. Over that period, the growth of interest costs and mandatory spending outpaces the growth of revenues and the economy, driving up debt. If those factors persist beyond 2034, pushing federal debt higher still, to 172 percent of GDP in 2054. The United States has the largest external debt in the world. The total amount of U.S. Treasury securities held by foreign entities in December 2021 was $7.7 trillion, up from $7.1 trillion in December 2020. Total US federal government debt breached the $30 trillion mark for the first time in history in February 2022. As of December 2023, total federal debt was $33.1 trillion; $26.5 trillion held by the public and $12.1 trillion in intragovernmental debt. The annualized cost of servicing this debt was $726 billion in July 2023, which accounted for 14% of the total federal spending. Additionally, in recent decades, aging demographics and rising healthcare costs have led to concern about the long-term sustainability of the federal government's fiscal policies. In February 2024, the total federal government debt rose to $34.4 trillion, after increasing by approximately $1 trillion during each of two separate 100-day periods since the previous June. In 2024, federal interest payments on the national debt surpassed spending on both Medicare and national defense. As of March 6, 2025, the federal government debt is $36.56 trillion.

Web Search Results

• National debt of the United States - Wikipedia

  Image 8 Average interest rate on U.S. federal debt The "national debt of the United States" is the total national debt owed by the federal government of the United States to treasury security holders. The national debt at a given point in time is the face value of the then outstanding treasury securities that have been issued by the Treasury and other federal agencies. [...] U.S. debt from 1940 to 2021Q2. Red lines indicate the "debt held by the public" and black lines indicate the total national debt or gross public debt. The difference is the "intragovernmental debt," which includes obligations to government programs such as Social Security. Stated as a formula, National Debt = Debt held by the Public + Intragovernmental Debt. The second panel shows the two debt figures as a percentage of U.S. GDP (dollar value of U.S. economic production for that year). The top [...] The national debt can also be classified into marketable or non-marketable securities. Most of the marketable securities are Treasury notes, bills, and bonds held by investors and governments globally. The non-marketable securities are mainly the "government account series" owed to certain government trust funds such as the Social Security Trust Fund, which represented $2.82 trillion (~$3.45 trillion in 2023) in 2017.[\[23\]](

• Understanding the National Debt | U.S. Treasury Fiscal Data

  The national debt ($36.21 T) is the total amount of outstanding borrowing by the U.S. Federal Government accumulated over the nation’s history. $ 1 0 0 1 1 0 0 1 , 0 0 0 0 0 0 , 0 0 0 0 0 0 , 0 0 0 0 0 0 , 0 0 0 0 0 0 $3 6,2 1 3,5 8 1,7 2 3,7 9 7 Updated daily from the Debt to the Penny dataset. Key Takeaways The National Debt Explained Funding Programs & Services The Growing National Debt Breaking Down the Debt The Debt Ceiling Tracking the Debt [...] The national debt is the amount of money the federal government has borrowed to cover the outstanding balance of expenses incurred over time. In a given fiscal year (FY), when spending (ex. money for roadways) exceeds revenue (ex. money from federal income tax), a budget deficit results. To pay for this deficit, the federal government borrows money by selling marketable securities such as Treasury bonds, bills, notes,floating rate notes, and Treasury inflation-protected securities (TIPS). The [...] The national debt is composed of distinct types of debt, similar to an individual whose debt consists of a mortgage, car loan, and credit cards. The national debt can be broken down by whether it is non-marketable or marketable and whether it is debt held by the public or debt held by the government itself (known as intragovernmental). The national debt does not include debts carried by state and local governments, such as debt used to pay state-funded programs; nor does it include debts

• U.S. National Debt by Year - Investopedia

  As of May 2025, the U.S. national debt exceeded $36.2 trillion. ## The Growing National Debt The U.S. has carried debt since it was founded. In fact, the U.S. accumulated more than $75 million in debt during the Revolutionary War, and that increased to over $2 billion by the end of the Civil War in 1865. [...] National debt is the outstanding financial obligations of a country. The national debt of the United States is what the federal government owes to its creditors. The U.S. has always carried national debt, and the majority of presidents have added to it. However, total national debt has been expanding rapidly since 2008 due to a combination of increased government spending and failure to raise taxes. ### Key Takeaways ## Understanding the National Debt [...] The national debt is the total amount of money that a country owes to its creditors. The government spends money on programs such as healthcare, education, and Social Security, and accumulates debt by borrowing to cover the outstanding balance of expenses incurred over time. Major economic and political events, such as recessions, wars, or pandemics, can affect government spending.

• Debt to the Penny | U.S. Treasury Fiscal Data

  | 6/23/2025 | $28,890,044,591,558.48 | $7,323,763,835,441.08 | $36,213,808,426,999.56 | | 6/20/2025 | $28,900,785,723,043.42 | $7,315,087,705,792.44 | $36,215,873,428,835.86 | | 6/18/2025 | $28,905,136,181,836.44 | $7,309,570,954,397.39 | $36,214,707,136,233.83 | | 6/17/2025 | $28,884,822,109,662.55 | $7,330,575,632,185.21 | $36,215,397,741,847.76 | | 6/16/2025 | $28,907,522,231,455.10 | $7,307,147,612,603.45 | $36,214,669,844,058.55 | [...] | Record Date mm/dd/yyyy - mm/dd/yyyy | Debt Held by the Public ​ | Intragovernmental Holdings ​ | Total Public Debt Outstanding ​ | | --- | --- | --- | --- | | 6/26/2025 | $28,887,012,425,608.74 | $7,328,793,639,131.62 | $36,215,806,064,740.36 | | 6/25/2025 | $28,888,758,862,953.29 | $7,325,110,705,163.71 | $36,213,869,568,117.00 | | 6/24/2025 | $28,860,859,190,127.59 | $7,353,694,147,625.66 | $36,214,553,337,753.25 | [...] | 6/13/2025 | $28,943,677,590,027.96 | $7,273,078,926,433.72 | $36,216,756,516,461.68 | | 6/12/2025 | $28,944,696,357,421.28 | $7,272,755,735,482.53 | $36,217,452,092,903.81 |

• Monthly-Debt-Update-website.knit - Joint Economic Committee

  Monthly-Debt-Update-website.knit =============== #### May 2025 | Released May 07, 2025 ### Growth of the national debt As of May 05, 2025, total gross national debt is $36.21 trillion. Debt held by the public is $28.90 trillion. Intragovernmental debt is $7.31 trillion. Relative to one year ago, total gross national debt is $1.66 trillion higher; relative to five years ago, it is $11.15 trillion higher. [...] Over the past year, the rate of increase averaged $4.54 billion per day, $188.98 million per hour, $3.15 million per minute, or $52,493.44 per second. The increase in gross national debt over the past year amounts to $4,892.55 per person or $12,589.28 per household. Total gross national debt amounts to $106,442 per person or $273,891 per household. [...] As of April 2025, the average interest rate on the total marketable national debt is 3.354 percent. One year ago, it was 3.297 percent; five years ago, it was 1.964 percent. The total amount of interest paid to trust funds over the past 12 months was $241.55 billion, an average of $20.13 billion per month. ### Composition of U.S. debt