The debt levels of the United States government have increased significantly over the last few decades. The last time the debt ceiling was raised was in December, 2021. In this year, the ceiling was raised to 31.38 trillion U.S. dollars. Just three months prior, in October 2021, the federal debt limit was at 28.9 trillion U.S. dollars. The monthly debt level of the United States can be accessed here.

In May 2023, after the passing of the Fiscal Responsibility Act of 2023, the debt limit was suspended until January 1, 2025.

Graph and download economic data for Federal Debt: Total Public Debt (GFDEBTN) from Q1 1966 to Q1 2025 about public, debt, federal, government, and USA.

By 2034, the gross federal debt of the United States is projected to be about 54.39 trillion U.S. dollars. This would be an increase of around 21 trillion U.S. dollars from 2023, when the federal debt was around 33 trillion U.S. dollars.

The federal debt of the U.S.

The federal debt, also called the national debt or public debt, is the amount of debt held by the United States government. This debt may be to other countries, or to different departments within the government itself. The public debt of the United States has increased significantly over the past 30 years, as it was around 3.2 trillion U.S. dollars in 1990 and surpassed 30 trillion dollars for the first time in 2022. When broken down per capita, the national debt amounted to about 80,885 U.S. dollars of debt per person in the United States in 2021.

The problem of the federal debt

Over the past decade, the federal debt limit in the United States has increased significantly. The U.S. debt ceiling can only be changed by an act of Congress which is then signed by the president. The raising of the ceiling has become a recurring political issue in recent years, especially during times when the Presidency and chambers of Congress are controlled by different parties.

The debt ceiling is a tool that allows the Treasury to issue bonds without congressional approval, allowing for efficiency in the way that the government pays for programs and services. It is thought to be further valuable in that it keeps federal finances in check. However, when the two parties are unable to come to an agreement on raising the debt ceiling, the government comes to a shutdown because they can no longer fund themselves. The Republican Party in particular often positions itself against raising the federal debt ceiling, characterizing themselves as the party of fiscal conservativism. However, analyses have shown that both parties have contributed to the country's debt in almost equal measures.

This table represents the breakdown of total public debt outstanding as it relates to the statutory debt limit. All figures are rounded to the nearest million.

In October 2024, the public debt of the United States was around 35.46 trillion U.S. dollars, a slight decrease from the previous month. The U.S. public debt ceiling has become one of the most prominent political issues in the States in recent years, with debate over how to handle it causing political turmoil between Democrats and Republicans. The public debt The public debt of the United States has risen quickly since 2000, and in 2022 was more than five times higher than in 2000. The public debt is the total outstanding debt that is owed by the federal government. This figure comprises debt owed to the public (for example, through bonds) and intergovernmental debt (debt owed to various governmental departments), such as Social Security. Debt in Politics The debt issue has become a highly contentious topic within the U.S. government. Measures such as stimulus packages, social programs and tax cuts add to the public debt. Additionally, spending tends to peak during large global events, such as the Great Depression, the 2008 financial crisis, or the COVID-19 pandemic - all of which had a detrimental impact on the U.S. economy. Although both major political parties in the U.S. tend to blame one another for increases in the country's debt, a recent analysis found that both parties have contributed almost equally to national expenditure. Debate on raising the debt ceiling, or the amount of debt the federal government is allowed to have at any one time, was a leading topic in the government shutdown in October 2013. Despite plans from both Democrats and Republicans on how to lower the national debt, it is only expected to increase over the next decade.

Local Government Debt Limit: New: Hunan data was reported at 172,200.000 RMB mn in 2024. This records a decrease from the previous number of 173,000.000 RMB mn for 2023. Local Government Debt Limit: New: Hunan data is updated yearly, averaging 140,700.000 RMB mn from Dec 2015 (Median) to 2024, with 10 observations. The data reached an all-time high of 178,100.000 RMB mn in 2022 and a record low of 0.000 RMB mn in 2015. Local Government Debt Limit: New: Hunan data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FAR: Local Government Debt Limit: by Region: Annually.

In 2023, the gross federal debt in the United States amounted to around ****** U.S. dollars per capita. This is a moderate increase from the previous year, when the per capita national debt amounted to about ****** U.S. dollars. The total debt accrued by the U.S. annually can be accessed here. Federal debt of the United States The level of national debt held by the United States government has risen sharply in the years following the Great Recession. Federal debt is the amount of debt the federal government owes to creditors who hold assets in the form of debt securities. As with individuals and consumers, there is a common consensus among economists that holding debt is not necessarily problematic for government so long as the public debt is held at a sustainable level. Although there is no agreed upon ratio of debt to gross domestic product, the increasing debt held by the Federal Reserve has become a major part of the political discourse in the United States. Politics and the national debt In recent years, debate over the debt ceiling has been of concern to domestic politicians, the owners of federal debt, and global economy as a whole. The debt ceiling is a legislated maximum amount that national debt can reach intended to impose a degree of fiscal prudence on incumbent governments. However, as national debt has grown the debt ceiling has been reached, thus forcing legislative action by Congress. In both 2011 and 2013, new legislation was passed by Congress allowing the debt ceiling to be raised. The Budget Control Act of 2011 and the No Budget, No Pay Act of 2013 successively allowed the government to avoid defaulting on national debt and therefore avert a potential economic crisis.

Local Government Debt Limit: New: Shanghai data was reported at 59,700.000 RMB mn in 2024. This records an increase from the previous number of 38,700.000 RMB mn for 2023. Local Government Debt Limit: New: Shanghai data is updated yearly, averaging 59,500.000 RMB mn from Dec 2015 (Median) to 2024, with 10 observations. The data reached an all-time high of 133,200.000 RMB mn in 2020 and a record low of 20,600.000 RMB mn in 2015. Local Government Debt Limit: New: Shanghai data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FAR: Local Government Debt Limit: by Region: Annually.

Provide a table of monthly government borrowing limits and outstanding debt balances for each level of government.

United States Statutory Debt Limit data was reported at 36,103.996 USD bn in 14 May 2025. This stayed constant from the previous number of 36,103.996 USD bn for 13 May 2025. United States Statutory Debt Limit data is updated daily, averaging 14,294.000 USD bn from Oct 2005 (Median) to 14 May 2025, with 3867 observations. The data reached an all-time high of 36,103.996 USD bn in 14 May 2025 and a record low of 0.000 USD mn in 31 Dec 2024. United States Statutory Debt Limit data remains active status in CEIC and is reported by Bureau of the Fiscal Service. The data is categorized under Global Database’s United States – Table US.F: Public Debt Transactions. Statutory Debt Limit temporarily suspended from June 3, 2023 through January 1, 2025

China Local Government Debt Limit: New: General data was reported at 800,000.000 RMB mn in 2025. This records an increase from the previous number of 720,000.000 RMB mn for 2024. China Local Government Debt Limit: New: General data is updated yearly, averaging 800,000.000 RMB mn from Dec 2015 (Median) to 2025, with 11 observations. The data reached an all-time high of 980,000.000 RMB mn in 2020 and a record low of 500,000.000 RMB mn in 2015. China Local Government Debt Limit: New: General data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FAR: Local Government Debt Limit: by Region: Annually.

Local Government Debt Limit: Fujian: Xiamen data was reported at 213,110.000 RMB mn in 2023. This records an increase from the previous number of 185,900.000 RMB mn for 2022. Local Government Debt Limit: Fujian: Xiamen data is updated yearly, averaging 88,700.000 RMB mn from Dec 2015 (Median) to 2023, with 9 observations. The data reached an all-time high of 213,110.000 RMB mn in 2023 and a record low of 46,500.000 RMB mn in 2015. Local Government Debt Limit: Fujian: Xiamen data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FAR: Local Government Debt Limit: by Region: Annually.

Local Government Debt Limit: New: Guangdong: Shenzhen data was reported at 62,700.000 RMB mn in 2023. This records a decrease from the previous number of 66,500.000 RMB mn for 2022. Local Government Debt Limit: New: Guangdong: Shenzhen data is updated yearly, averaging 31,400.000 RMB mn from Dec 2015 (Median) to 2023, with 9 observations. The data reached an all-time high of 66,500.000 RMB mn in 2022 and a record low of 0.000 RMB mn in 2017. Local Government Debt Limit: New: Guangdong: Shenzhen data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FAR: Local Government Debt Limit: by Region: Annually.

Local Government Debt Limit: Local Level: Special: Hunan: Changde data was reported at 37,695.000 RMB mn in 2024. This records an increase from the previous number of 25,036.000 RMB mn for 2023. Local Government Debt Limit: Local Level: Special: Hunan: Changde data is updated yearly, averaging 14,175.000 RMB mn from Dec 2018 (Median) to 2024, with 7 observations. The data reached an all-time high of 37,695.000 RMB mn in 2024 and a record low of 5,728.000 RMB mn in 2018. Local Government Debt Limit: Local Level: Special: Hunan: Changde data remains active status in CEIC and is reported by Changde Municipal Bureau of Statistics. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FAR: Local Government Debt Limit: Prefecture Level City: Local Level.

Local Government General Debt Limit: Guangdong: Shenzhen data was reported at 19,971.140 RMB mn in 2023. This records a decrease from the previous number of 29,000.000 RMB mn for 2022. Local Government General Debt Limit: Guangdong: Shenzhen data is updated yearly, averaging 30,060.000 RMB mn from Dec 2015 (Median) to 2023, with 9 observations. The data reached an all-time high of 34,560.000 RMB mn in 2020 and a record low of 19,971.140 RMB mn in 2023. Local Government General Debt Limit: Guangdong: Shenzhen data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FA: Government Debt: Local Government: Limit.

Local Government Special Debt Limit: Hainan data was reported at 342,879.000 RMB mn in 2024. This records an increase from the previous number of 234,979.120 RMB mn for 2023. Local Government Special Debt Limit: Hainan data is updated yearly, averaging 109,439.000 RMB mn from Dec 2015 (Median) to 2024, with 10 observations. The data reached an all-time high of 342,879.000 RMB mn in 2024 and a record low of 44,530.000 RMB mn in 2015. Local Government Special Debt Limit: Hainan data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FA: Government Debt: Local Government: Limit.

Local Government Debt Limit: New: Ningxia data was reported at 15,000.000 RMB mn in 2023. This records an increase from the previous number of 9,800.000 RMB mn for 2022. Local Government Debt Limit: New: Ningxia data is updated yearly, averaging 13,500.000 RMB mn from Dec 2015 (Median) to 2023, with 9 observations. The data reached an all-time high of 28,200.000 RMB mn in 2019 and a record low of 8,200.000 RMB mn in 2015. Local Government Debt Limit: New: Ningxia data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FAR: Local Government Debt Limit: by Region: Annually.

Local Government Debt Limit: Local Level: General: Shandong data was reported at 154,337.000 RMB mn in 2023. This records an increase from the previous number of 143,281.000 RMB mn for 2022. Local Government Debt Limit: Local Level: General: Shandong data is updated yearly, averaging 107,158.000 RMB mn from Dec 2016 (Median) to 2023, with 8 observations. The data reached an all-time high of 154,337.000 RMB mn in 2023 and a record low of 38,580.000 RMB mn in 2016. Local Government Debt Limit: Local Level: General: Shandong data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FAR: Local Government Debt Limit: Local Level: by Region: Annually.

Local Government General Debt Limit: Jilin data was reported at 441,758.000 RMB mn in 2023. This records an increase from the previous number of 389,518.000 RMB mn for 2022. Local Government General Debt Limit: Jilin data is updated yearly, averaging 318,418.000 RMB mn from Dec 2015 (Median) to 2023, with 9 observations. The data reached an all-time high of 441,758.000 RMB mn in 2023 and a record low of 205,000.000 RMB mn in 2015. Local Government General Debt Limit: Jilin data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FA: Government Debt: Local Government: Limit.

Local Government Debt Limit: Special: Hunan: Loudi data was reported at 46,707.000 RMB mn in 2024. This records an increase from the previous number of 33,391.000 RMB mn for 2023. Local Government Debt Limit: Special: Hunan: Loudi data is updated yearly, averaging 17,775.000 RMB mn from Dec 2018 (Median) to 2024, with 7 observations. The data reached an all-time high of 46,707.000 RMB mn in 2024 and a record low of 9,000.000 RMB mn in 2018. Local Government Debt Limit: Special: Hunan: Loudi data remains active status in CEIC and is reported by Loudi Municipal Bureau of Statistics. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FAR: Local Government Debt Limit: Prefecture Level City.