In September 2023, the national debt of the United States had risen up to 33.17 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.

Summarizes the U.S. government's total outstanding debt at the end of each fiscal year from 1789 to the current year.

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.

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).

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.

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.

The statistic shows the national debt of the United States from 2020 to 2024, with projections up until 2030. The amount of the debt of the United States amounted to around 35.25 trillion U.S. dollars in 2024. National debt of the United States National debt in the United States is a topic of much debate and controversy, primarily due to large amounts of unnecessary spending. Despite the fact that the United States had the highest gross domestic product (GDP) in the world in 2016, along with being one of the most developed powerhouses in the world, the country suffers in many economical aspects. When analyzing the country’s imports and exports, the United States has recorded a trade deficit for more than a decade as of 2015, meaning that its imports exceeded its exports every year. However, despite being significantly affected by the world economic crisis in 2008, the country’s trade balance noticeably improved in 2009, almost halving the country’s total trade deficit. An economical aspect that did not improve during the world economic crisis was the country’s unemployment rate. The number of unemployed in the United States increased greatly in 2009 and continued to rise in 2010, however finally stabilized in the following years and has since declined yearly. When considering the total population of the United States, which amounted to roughly 322 million in 2015, a large percentage of citizens, who are capable of work, have been left without a job for roughly 7 years.

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.

Projection of General government gross debt for United States was 128.15400 % of GDP in January of 2030, according to the United States Federal Reserve. Historically, Projection of General government gross debt for United States reached a record high of 132.62800 in January of 2021 and a record low of 105.77300 in January of 2018. Trading Economics provides the current actual value, an historical data chart and related indicators for Projection of General government gross debt for United States - last updated from the United States Federal Reserve on July of 2025.

Key information about Tunisia National Government Debt

• Tunisia National Government Debt reached 42.4 USD bn in Dec 2024, compared with 41.3 USD bn in the previous month.
• Tunisia National Government Debt data is updated monthly, available from Apr 2011 to Dec 2024.
• The data reached an all-time high of 42.6 USD bn in Sep 2024 and a record low of 18.4 USD bn in May 2012.

CEIC converts monthly Government Debt into USD. The Ministry of Finance provides Government Debt in local currency. The Central Bank of Tunisia period end market exchange rate is used for currency conversions. Government Debt covers Central Government only. Government Debt prior to January 2021 is based on old methodology.


Related information about Tunisia National Government Debt

• In the latest reports, Tunisia Consolidated Fiscal Balance recorded a deficit equal to 7.6 % of its Nominal GDP in Dec 2023.
• The country's Government debt accounted for 79.8 % of its Nominal GDP in Dec 2024.
• Tunisia Nominal GDP reached 11.7 USD bn in Dec 2022.

United States Public Debt Transactions: Redemptions: Nonmarketable: Domestic data was reported at 0.000 USD mn in 15 May 2025. This stayed constant from the previous number of 0.000 USD mn for 14 May 2025. United States Public Debt Transactions: Redemptions: Nonmarketable: Domestic data is updated daily, averaging 0.000 USD mn from Oct 2005 (Median) to 15 May 2025, with 4916 observations. The data reached an all-time high of 35.200 USD bn in 04 Jan 2021 and a record low of 0.000 USD mn in 15 May 2025. United States Public Debt Transactions: Redemptions: Nonmarketable: Domestic 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.

Slovenia Government Debt: Amortization: EUR: Domestic data was reported at 1,102,523,486.060 EUR in Mar 2023. This records an increase from the previous number of 64,537,822.510 EUR for Feb 2023. Slovenia Government Debt: Amortization: EUR: Domestic data is updated monthly, averaging 31,977,595.375 EUR from Jan 2000 (Median) to Mar 2023, with 279 observations. The data reached an all-time high of 1,658,577,982.200 EUR in Jan 2021 and a record low of -1,126,580.600 EUR in Sep 2011. Slovenia Government Debt: Amortization: EUR: Domestic data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under Global Database’s Slovenia – Table SI.F007: General Government Borrowing and Amortization of Debt: Consolidated.

Canada Federal Government Debt: Liabilities: IB: UD: Unamortized Discounts & Premiums data was reported at 7,443.000 CAD mn in Mar 2022. This records a decrease from the previous number of 7,940.000 CAD mn for Feb 2022. Canada Federal Government Debt: Liabilities: IB: UD: Unamortized Discounts & Premiums data is updated monthly, averaging 3,086.000 CAD mn from Sep 2009 (Median) to Mar 2022, with 95 observations. The data reached an all-time high of 11,078.000 CAD mn in Jan 2021 and a record low of -5,140.000 CAD mn in Oct 2009. Canada Federal Government Debt: Liabilities: IB: UD: Unamortized Discounts & Premiums data remains active status in CEIC and is reported by Department of Finance Canada. The data is categorized under Global Database’s Canada – Table CA.F008: Federal Government Debt.

United States - Federal Government; Long-Term Debt Securities; Liability, Transactions was 1401819.00000 Mil. of $ in January of 2024, according to the United States Federal Reserve. Historically, United States - Federal Government; Long-Term Debt Securities; Liability, Transactions reached a record high of 2806050.00000 in January of 2021 and a record low of -187058.00000 in January of 2000. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Federal Government; Long-Term Debt Securities; Liability, Transactions - last updated from the United States Federal Reserve on July of 2025.

United States - General Government; Debt Securities Issued by Government; Asset (FWTW), Transactions was -7004.00000 Mil. of $ in January of 2025, according to the United States Federal Reserve. Historically, United States - General Government; Debt Securities Issued by Government; Asset (FWTW), Transactions reached a record high of 1221536.00000 in April of 2021 and a record low of -250822.00000 in January of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - General Government; Debt Securities Issued by Government; Asset (FWTW), Transactions - last updated from the United States Federal Reserve on July of 2025.

Key information about US Consolidated Fiscal Balance: % of GDP

• United States Consolidated Fiscal Balance recorded a deficit equal to 7.0 % of its Nominal GDP in Dec 2024, compared with a deficit equal to 6.4 % in the previous quarter
• US Consolidated Fiscal Balance to GDP data is updated quarterly, available from Sep 1981 to Dec 2024, with an average ratio of -3.4 %
• The data reached an all-time high of 2.5 % in Dec 2000 and a record low of -19.0 % in Mar 2021

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


Further information about US Consolidated Fiscal Balance: % of GDP

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

United States - US Acquisition of Debt Securities: Long term was 256012.00000 Mil. of $ in January of 2024, according to the United States Federal Reserve. Historically, United States - US Acquisition of Debt Securities: Long term reached a record high of 406560.00000 in January of 2021 and a record low of -163075.00000 in January of 2008. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - US Acquisition of Debt Securities: Long term - last updated from the United States Federal Reserve on July of 2025.

United States - Corporate profits: Total receipts less total deductions, IRS: Bad debt expense was 126.89000 Bil. of $ in January of 2021, according to the United States Federal Reserve. Historically, United States - Corporate profits: Total receipts less total deductions, IRS: Bad debt expense reached a record high of 379.38200 in January of 2009 and a record low of 0.27700 in January of 1945. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Corporate profits: Total receipts less total deductions, IRS: Bad debt expense - last updated from the United States Federal Reserve on July of 2025.