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 1.86 trillion U.S. dollars, or 186.36 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 30 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.

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.

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.

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.

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

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.

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.

Graph and download economic data for Gross Federal Debt (FYGFD) from 1939 to 2023 about gross, debt, federal, and USA.

In 2023, the U.S. government had a budget deficit of 1.69 trillion U.S. dollars. This is compared to 2000, when the government had a budget surplus of 0.24 trillion U.S. dollars.

U.S. Government budget

The government budget is a financial statement that demonstrates the government’s suggested revenues and spending for the financial year. Budget surpluses occur when income exceeds expenditures. Budget deficits occur when spending exceeds income. The budget balance of the U.S. government has fluctuated since 2016, and is expected to decrease slightly by 2026.

Military spending

Defense outlays in the United States amounted to 714 billion U.S. dollars in 2020. It is expected to continue to increase over the next several years. The United States currently has the largest defense budget in the world, and is the largest employer in the world. The military budget funds the Army, Marine Corps, Navy, and Air Force. The amount of funding that goes towards the Department of Defense is heavily criticized by Democrats in the United States, because they believe that the funding should be more evenly distributed towards other social welfare programs such as public health insurance and education.

The statistic shows the national debt of France from 2019 to 2022, with projections up until 2029. In 2022, the national debt of France amounted to around 3.19 trillion U.S. dollars. For comparison, the Greek debt amounted to approximately 392.27 billion euros that same year. French national debt and developments in taxationFrance currently has one of the highest national debt levels of any of the world’s nations. Debt in the European Union’s second-largest economy is currently at around 97 percent of GDP. The cost of interest on the country’s debt alone comes in at over 1,600 euros per second; every man, woman, and child in France, of which there are 65.3 million in total, takes a share of just under 28 thousand euros of the debt.On 6th May 2012, the incumbent French President was defeated by François Hollande, leader of the French Socialist Party. The new President vowed to develop and change the tax system of France, announcing wide-ranging economic policies in a bid to balance the nation’s budget and right what he considered to be social wrongs. He pledged and supported the separation of lending and investment banks, as well as proposing sweeping changes to the French tax system. The introduction of the measure of capping tax loopholes at a maximum of ten thousand euros per year and questioning the solidarity tax on wealth, the annual direct wealth tax on those with assets above 1.3 million, were also part of Hollande’s proposals. The President has also signaled his intention to implement an income tax rate of 75 percent on revenue earned above one million euros per year. He stated the allocation of the revenue from this tax would be used to develop the deprived suburbs and to balance the nation's budget by 2017. France is a country brimming with big business and millionaires. The nation is home to the most millionaires in Europe; 2.6 million in total.

Interactive chart of historical data comparing the level of gross domestic product (GDP) with Federal Debt.

In the 2020 U.S. presidential race, Democratic candidates spent a total of roughly 3.16 billion U.S. dollars, more than any other election. The total spending of presidential candidates is reflected in the number of major presidential candidates running. See here for more information on how many candidates have run in past U.S. elections.

This statistic shows the total funds raised by U.S. presidential election candidates as of June 22, 2016. As of June 22, Hillary Clinton had the largest funds total at about 335 million U.S. dollars.

br> U.S. 2016 Elections: the money race - additional information

As of February 2016, the United States presidential elections are still in the early stages, but already large sums of money have been raised and spent in support of candidates and their parties. According to the Center for Responsive Politics research group, Hillary Clinton raised almost 230 million U.S. dollars in her 2008 nomination campaign and left the race with an estimated 22.5 million U.S. dollars in debt, at least 11.4 million U.S. dollars of which came from her own finances. Most of her funds in 2008 were raised with the help of individual contributions. In 2016, she is criticized by her biggest opponent in the nomination race, Vermont Senator Bernie Sanders, for taking advantage of the Citizen United 2010 ruling. This controversial U.S. Supreme Court decision lifted the limitations corporations and labor unions had in donating to a so-called super PAC (political action committee).

As of February 1, 2016, Clinton benefited from funds provided by super PACs amounting to almost 48 million U.S. dollars, but she comes in only second in the ranking of nominees supported by such committees, after Jeb Bush. The former Florida Governor, who is the son and brother to two former U.S. Presidents, George H.W. Bush and George W. Bush respectively, has benefited from some 123 million U.S. dollars from super PACs. Almost 30 thousand television ads in support of his candidacy were funded by super PAC money, the most of any other presidential hopeful.

Super PACs are controversial because they are not the type of committee raising 50 dollar pledges, but rather millions of U.S. dollars from powerful and wealthy families and interest groups, which in turn can be suspected of wanting to influence their supported candidates’ views. According to the New York Times, generous donations to super PACs in 2015-2016 have come from such figures as billionaire philanthropist and investor George Soros, who pledged 7 billion U.S. dollars to Hillary Clinton or C.V. Starr & Company Inc., a company run by former CEO of the A.I.G insurance company Maurice R. Greenberg, who donated 1o million U.S. dollars to Jeb Bush. As opposed to 2012, when business magnate Sheldon Adelson and his wife Miriam made the largest donation, in the 2016 election Donald Trump himself has made the largest contribution, almost 13 million U.S. dollars, naturally to his own campaign.

Key information about Mexico National Government Debt

• Mexico National Government Debt reached 896.3 USD bn in Jan 2025, compared with 874.8 USD bn in the previous month.
• Mexico National Government Debt data is updated monthly, available from Dec 2005 to Jan 2025.
• The data reached an all-time high of 961.9 USD bn in May 2024 and a record low of 197.7 USD bn in Dec 2005.

CEIC calculates monthly Government Debt as the sum of External Debt and Domestic Debt and converts it into USD. The Secretary of Finance and Public Credit provides External Debt in USD and Domestic Debt in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions. Government Debt covers Central Government only.


Related information about Mexico National Government Debt

• In the latest reports, Mexico Consolidated Fiscal Balance recorded a deficit equal to 4.2 % of its Nominal GDP in Sep 2024.
• The country's Government debt accounted for 47.7 % of its Nominal GDP in Sep 2024.
• Mexico Nominal GDP reached 397.5 USD bn in Mar 2023.

Graph and download economic data for Federal Surplus or Deficit - from 1901 to 2024 about budget, federal, and USA.

External Debt in Mexico decreased to 591055.90 USD Million in the fourth quarter of 2024 from 600455.70 USD Million in the third quarter of 2024. This dataset provides - Mexico External Debt - actual values, historical data, forecast, chart, statistics, economic calendar and news.

This poll, fielded April 15 - April 20, 2011, is a part of a continuing series of monthly surveys that solicits public opinion on the presidency and on a range of other political and social issues. Respondents were asked whether they approved of the way Barack Obama was handling his job as president, the economy, the budget deficit, foreign policy, and the situation in Libya. Respondents were also asked whether they approved of the way the United States Congress was handling its job and whether they approved of the way Republicans in the United States Congress were handling the federal budget deficit. Opinions were sought on the severity of the country's budget deficit, how respondents would balance the federal budget, and whether respondents felt that Obama and the Republicans compromised on the issues of the budget deficit and the debt limit. Multiple questions were asked regarding the Republican Party and its potential candidates for the 2012 presidential election. Respondents were asked how favorably they viewed the candidates as well as their opinion about the goals and direction of the Republican Party. A significant portion of the survey focused on the rising costs of Medicare. Respondents were asked their opinion of the Medicare program, how they would plan to pay for the increasing costs of Medicare in the future and the amount of benefits they felt Medicare recipients should receive. Additional questions focused on respondent's opinion of the government's responsibility to provide health services, whether Medicare was worth the cost to taxpayers and possible changes to Medicare in order to reduce the federal deficit. Additional topics covered were the Tea Party movement, whether Obama is a United States citizen, the British Royal Family, Prince William and Kate Middleton's wedding, and the idea of an American Royal Family. Demographic variables include sex, age, race, education level, household income, marital status, religious preference, political party affiliation, political philosophy, voter registration status, and whether respondents thought of themselves as born-again Christians.

The United States recorded a trade deficit of 61.62 USD Billion in April of 2025. This dataset provides the latest reported value for - United States Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

This poll, fielded March 26-29, 2009, is part of a continuing series of monthly surveys that solicit public opinion on the presidency and on a range of other political and social issues. Respondents were asked to give their opinions of President Barack Obama and his handling of the presidency, foreign policy, and the economy. Respondents were asked whether the Obama administration or the Republicans in Congress could be trusted to do a better job coping with the economic problems the nation faces and whether things in the country were going in the right direction. Respondents were also asked their opinions of First Lady Michelle Obama as well their opinions on the roles of banks, the Bush administration, large businesses and consumer debt, and the state of the national economy. Non-economic questions focused on the role of the United States in Afghanistan, confidence in the Obama administration in the handling of Afghanistan and the Taliban, efforts made in building relationships between the United States and Muslim-majority nations, and the general world image of the United States. Personal financial and economic topics addressed how concerned respondents were that they could maintain their current standard of living and in what areas they are experiencing spending cutbacks. Additional topics addressed familiarity and understanding of the Islamic religion and Muslims, and whether respondents had shopped at a Walmart store in the past 12 months. Demographic variables include sex, age, race, political political philosophy, party affiliation, type of residential area (e.g., urban or rural), education level, religious preference, employment status, household income and whether respondents considered themselves to be a born-again Christian.

This poll, fielded December 5-9, 2007, is part of a continuing series of monthly surveys that solicits public opinion on the presidency and on a range of other political and social issues. Respondents were asked whether they approved of the way George W. Bush was handling the presidency and other issues such as foreign policy. They were also asked to rate the condition of the national economy, what they thought was the most important problem facing the country, and whether they approved of the way Congress was handling its job. Opinions were solicited on the Republican and Democratic parties, the 2008 presidential candidate nominees, how much attention respondents had been paying to the 2008 presidential campaign, which candidate they would vote for if the 2008 presidential election were being held that day, and how enthusiastic they were about voting in the 2008 presidential election. Several questions asked about the presidential primaries, including whether respondents were likely to vote in the Democratic or Republican primaries, which nominee they would like to see as the Democratic and Republican party presidential candidate in 2008, whether their choice was affected by Oprah Winfrey's involvement in Barack Obama's campaign or Bill Clinton's involvement in Hillary Clinton's campaign, the importance of a presidential candidate's personal attributes or beliefs, and which candidate they thought would win the general election in November 2008. Respondents were also asked about their personal finances and credit card use, payments, and debt, other types of personal debt, the national debt, the United States' debt to China, and the quality of manufactured goods produced in China. Additional topics included abortion, global warming, illegal immigration, whether Iran is a threat to the United States, terrorism, the war in Iraq, international trade, democracy, and feelings about the federal government. Demographic information includes sex, age, race, education level, household income, marital status, religious preference, frequency of religious attendance, type of residential area (e.g., urban or rural), political party affiliation, political philosophy, voter registration status and participation history, and the presence of children in the household under 18.