In September 2024, the national debt of the United States had risen up to 35.46 trillion U.S. dollars. The national debt per capita had risen to 85,552 U.S. dollars in 2021. As represented by the statistic above, the public debt of the United States has been continuously rising. U.S. public debt Public debt, also known as national and governmental debt, is the debt owed by a nations’ central government. In the case of the U.S., national debt is owed by the federal government to Treasury security holders. Generally speaking, government debt increases with government spending, and can be decreased through taxes. During the COVID-19 pandemic, the U.S. government increased spending significantly to finance virus infrastructure, aid, and various forms of economic relief. International public debt Venezuela leads the global ranking of the 20 countries with the highest public debt in 2021. In relation to the Gross Domestic Product (GDP), Venezuela's public debt amounted to around 306.95 percent of GDP. Eritrea was ranked fifth, with an estimated debt of 170 percent of the Gross Domestic Product. The national debt of the United Kingdom is forecasted to grow from 87 percent in 2022 to 70 percent in 2027, in relation to the Gross Domestic Product. These figures include England, Wales, Scotland as well as Northern Ireland. Greece had the highest national debt among EU countries as of the 4th quarter of 2020 in relation to the Gross Domestic Product. Germany ranked 13th in the EU, with its national debt amounting to 69 percent of GDP in the same time period. Tuvalu was one of the 20 countries with the lowest national debt in 2021 in relation to the GDP, while Macao had an estimated level of national debt of zero percent, the lowest of any country. The data refer to the debts of the entire state, including the central government, the provinces, municipalities, local authorities and social insurance.

Government Debt in the United States decreased to 36211469 USD Million in June from 36215818 USD Million in May of 2025. This dataset provides - United States Government Debt- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Adding to national debt is an inevitable fact of being President of the United States. The extent to which debt rises under any sitting president depends not only on the policy and spending choices they have made, but also the choices made by presidents and congresses that have come before them. Ronald Reagan and George W. Bush President Ronald Reagan increased the U.S. debt by around **** trillion U.S. dollars, or ****** percent. This is often attributed to "Reaganomics," in which Reagan implemented significant supply-side economic policies in which he reduced government regulation, cut taxes, and tightened the money supply. Spending increased under President George W. Bush in light of the wars in Iraq and Afghanistan. To finance the wars, President Bush chose to borrow the money, rather than use war bonds or increase taxes, unlike previous war-time presidents. Additionally, Bush introduced a number of tax cuts, and oversaw the beginning of the 2008 financial crisis. Barack Obama President Obama inherited both wars in Iraq and Afghanistan, and the financial crisis. The Obama administration also did not increase taxes to pay for the wars, and additionally passed expensive legislation to kickstart the economy following the economic crash, as well as the Affordable Care Act in 2010. The ACA expanded healthcare coverage to cover more than ** million more Americans through programs like Medicare and Medicaid. Though controversial at the time, more than half of Americans have a favorable view of the ACA in 2023. Additionally, he signed legislation making the W. Bush-era tax cuts permanent.

Government debt in the United Kingdom reached over 2.8 trillion British pounds in 2024/25, compared with 2.69 trillion pounds in the previous financial year. Although debt has been increasing throughout this period, there is a noticeable jump between 2019/20, and 2020/21, when debt increased from 1.82 trillion pounds, to 2.15 trillion. The UK's government debt was the equivalent of 95.8 percent of GDP in 2024/25, and is expected to increase slightly in coming years, and not start falling until the end of this decade. Public finances in a tight spot With government debt approaching 100 percent of GDP, the UK finds itself in a tricky fiscal situation. If the UK can't reduce it's spending, or increase its revenue, the government will have to continue borrowing large amounts, increasing the debt further. Adding to the problem, is the fact that financing this debt has got steadily more expensive recently, with the government currently spending more on debt interest than it does on defence, transport, and public order and safety. Can the UK grow out its debt? After the Second World War, when the national debt reached over 250 percent of GDP, the UK managed to reduce its debt-to-GDP ratio, due to the economy growing faster than its debt over a long period of time. This is certainly the hope of the current Labour government, who are seeking to avoid significant tax and spending adjustments by strengthening the economy. Overdue investments in infrastructure and increased capital spending may eventually achieve this goal, but the government's declining popularity suggests they may not be in power by the time these policies might eventually bear fruit.

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.

The United States recorded a Government Debt to GDP of 124.30 percent of the country's Gross Domestic Product in 2024. This dataset provides - United States Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Gross Federal Debt as Percent of Gross Domestic Product (GFDGDPA188S) from 1939 to 2023 about gross, debt, federal, GDP, and USA.

Total outstanding debt of the U.S. government reported daily. Includes a breakout of intragovernmental holdings (federal debt held by U.S. government) and debt held by the public (federal debt held by entities outside the U.S. government).

External Debt in Egypt decreased to 155093.40 USD Million in the fourth quarter of 2024 from 155204.30 USD Million in the third quarter of 2024. This dataset provides - Egypt External Debt - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The national debt of Russia stood at about ************** U.S. dollars in 2024. Between 1997 and 2024, the national debt rose by approximately ************** U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The national debt will steadily rise by around ************** U.S. dollars over the period from 2024 to 2030, reflecting a clear upward trend.

During the last three decades government debt has increased in most developed countries. During the same period we have also observed a significant liberalization of international financial markets. We propose a multi-country model with incomplete markets and show that governments may choose higher levels of debt when financial markets become internationally integrated. We also show that public debt increases with the volatility of uninsurable income (idiosyncratic risk). To the extent that the increase in income inequality observed in some industrialized countries has been associated with higher idiosyncratic risk, the paper suggests another potential mechanism for the rise in public debt.

Key information about United States Government Debt: % of GDP

• United States Government debt accounted for 124.0 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 123.1 % in the previous quarter.
• US government debt to GDP ratio data is updated quarterly, available from Mar 1969 to Dec 2024.
• The data reached an all-time high of 130.4 % in Mar 2021 and a record low of 31.8 % in Sep 1974.

CEIC calculates quarterly Government Debt as % of Nominal GDP from monthly Government Debt and rolling sum of quarterly Nominal GDP. The Bureau of the Fiscal Service provides Government Debt in USD. The Bureau of Economic Analysis provides Nominal GDP in USD. Government Debt covers Central Government only.


Related information about United States Government Debt: % of GDP

• In the latest reports, US National Government Debt reached 36,220.2 USD bn in Jan 2025.
• The country's Nominal GDP reached 6,632.4 USD bn in Mar 2023.

Tunisia recorded a Government Debt to GDP of 79.80 percent of the country's Gross Domestic Product in 2024. This dataset provides - Tunisia Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for General government gross debt for Brazil (GGGDTABRA188N) from 2000 to 2023 about Brazil, gross, debt, and government.

The coronavirus pandemic has revived interest in the effects of fiscal policy. This paper studies the effects of government spending on default risk in emerging economies. We first build a general equilibrium small open economy model where government spending shocks influence external debt and sovereign bond spreads. We show that external debt piles up and sovereign bond spreads increase following a government spending shock. We then develop VAR evidence based on a panel of 18 countries. We find that in response to a 10% government spending increase, (1) the real effective exchange rate appreciates by 1.0% and the current account to GDP ratio deteriorates by 0.0025 on impact; (2) external debt increases by an average of 3.5% in the year following the shock; and (3) the EMBI Global spread rises by an average of 25 basis points within two years and peaks at 132 basis points 14 quarters after the shock, suggesting a higher sovereign default risk. The empirical results confirm the theoretical predictions from the general equilibrium model.

Debt Settlement Market Outlook

The global debt settlement market size was valued at approximately USD 10.5 billion in 2023 and is expected to reach USD 21.6 billion by 2032, growing at a CAGR of 8.2% during the forecast period. This significant growth factor is driven by increasing consumer debt levels and the growing need for financial management solutions. As more individuals and businesses seek relief from mounting debts, the demand for debt settlement services continues to rise, making this sector an essential component of the broader financial services market.

One of the primary growth factors for the debt settlement market is the increasing consumer debt levels worldwide. Amid rising living costs, consumers are increasingly relying on credit to manage their expenses, leading to higher debt burdens. This scenario has made debt settlement services crucial for individuals struggling to manage their finances. Additionally, the economic disruptions caused by events such as the COVID-19 pandemic have exacerbated financial instability, further fueling the demand for debt settlement solutions.

Another significant factor contributing to the market's growth is the increasing awareness and acceptance of debt settlement services. Traditionally, debt settlement might have been viewed with skepticism, but more consumers and businesses are now recognizing its benefits. Effective marketing strategies, consumer education initiatives, and success stories of individuals who have regained financial stability through these services have contributed to this shift in perception. As more people become aware of debt settlement as a viable option, the market is expected to continue its upward trajectory.

The proliferation of digital platforms and the integration of advanced technologies are also pivotal in driving the market forward. The advent of sophisticated debt management software and online service platforms has made it easier for consumers to access debt settlement services. These digital solutions offer greater transparency, efficiency, and convenience, attracting a broader customer base. Moreover, technological advancements like artificial intelligence and machine learning are being leveraged to offer personalized debt management plans, further enhancing the effectiveness of these services.

In the realm of financial management, the Business Debt Management Tool emerges as a pivotal resource for enterprises seeking to streamline their debt settlement processes. This tool is designed to assist businesses in organizing and managing their financial obligations more effectively. By providing a comprehensive overview of outstanding debts, payment schedules, and negotiation opportunities, the Business Debt Management Tool empowers companies to make informed decisions. This not only aids in maintaining financial stability but also enhances the ability to negotiate favorable terms with creditors. As businesses increasingly recognize the importance of strategic debt management, tools like these become indispensable in navigating complex financial landscapes.

Regionally, North America holds a dominant position in the debt settlement market, accounting for a significant share of the global market. This region's leadership can be attributed to high consumer debt levels, a well-established financial services industry, and a mature regulatory framework that supports debt settlement practices. However, other regions such as Asia Pacific and Europe are also witnessing substantial growth, driven by increasing debt levels and the rising adoption of financial management solutions. As economic conditions improve and financial literacy rises, these regions are expected to contribute significantly to the market's expansion.

Component Analysis

The debt settlement market can be segmented by component into software and services. The software segment encompasses various debt management applications and platforms that facilitate the debt settlement process. These software solutions are designed to streamline and automate many aspects of debt management, from initial assessment to negotiation and settlement. The rising adoption of fintech solutions has significantly bolstered the demand for debt settlement software, as these tools offer enhanced efficiency, accuracy, and user-friendly interfaces. Moreover, the integration of AI and machine learning into these platforms enables personalized debt management plans, making them increasingly popular among both consum

This statistic shows the national debt of Greece from 2020 to 2023, with projections until 2030. In 2023, the national debt in Greece was around 420.4 billion U.S. dollars. In a ranking of debt to GDP per country, Greece is currently ranked third. Greece's struggle after the financial crisis Greece is a developed country in the EU and is highly dependent on its service sector as well as its tourism sector in order to gain profits. After going through a large economic boom from the 1950s to the 1970s as well as somewhat high GDP growth in the early to mid 2000s, Greece’s economy took a turn for the worse and struggled intensively, primarily due to the Great Recession, the Euro crisis as well as its own debt crisis. National debt within the country saw significant gains over the past decades, however roughly came to a halt due to financial rescue packages issued from the European Union in order to help Greece maintain and improve their economical situation. The nation’s continuous rise in debt has overwhelmed its estimated GDP over the years, which can be attributed to poor government execution and unnecessary spending. Large sums of financial aid were taken from major European banks to help balance out these government-induced failures and to potentially help refuel the economy to encourage more spending, which in turn would decrease the country’s continuously rising unemployment rate. Investors, consumers and workers alike are struggling to see a bright future in Greece, whose chances of an economic comeback are much lower than that of other struggling countries such as Portugal and Italy. However, Greece's financial situation might improve in the future, as it is estimated that at least its national debt will decrease - slowly, but steadily. Still, since its future participation in the European Union is in limbo as of now, these figures can only be estimates, not predictions.

Graph and download economic data for Number of Other Domestic Banks That Tightened and Reported That Increase in Defaults by Borrowers in Public Debt Markets Was Not an Important Reason (SUBLPDCIRTDNOTHNQ) from Q3 2000 to Q1 2011 about borrowings, public, debt, domestic, banks, depository institutions, and USA.

Russia recorded a Government Debt to GDP of 16.40 percent of the country's Gross Domestic Product in 2024. This dataset provides - Russia Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

United States CBO Projection: Federal Debt Held by Public: Average Interest Rate data was reported at 3.448 % in 2028. This records an increase from the previous number of 3.442 % for 2027. United States CBO Projection: Federal Debt Held by Public: Average Interest Rate data is updated yearly, averaging 3.289 % from Sep 2014 (Median) to 2028, with 15 observations. The data reached an all-time high of 3.531 % in 2023 and a record low of 1.654 % in 2015. United States CBO Projection: Federal Debt Held by Public: Average Interest Rate data remains active status in CEIC and is reported by Congressional Budget Office. The data is categorized under Global Database’s USA – Table US.F006: Federal Debt: Projection: Congressional Budget Office.