The statistic shows the national debt of the United States from 2019 to 2023, with projections up until 2029. The amount of the debt of the United States amounted to around 32.91 trillion U.S. dollars in 2023. 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 statistic shows the national debt of the United States from 2019 to 2022 in relation to the gross domestic product (GDP), with projections up until 2029. In 2022, the national debt of the United States was at around 120.03 percent of the gross domestic product. See the US GDP for further information. US finances There has been a dramatic increase in the public debt of the United States since 1990, although the month-to-month change has been quite stable over the last few months. Public debt is defined as the amount of money borrowed by a country to cover budget deficits. A ranking of individual state debt in the United States shows that California is leading by a clear margin, with more than double the amount of runner-up New York. Vermont, North Dakota and South Dakota are the states with the lowest amount of debt. Even before the recession of 2008, the national debt of the United States had been increasing steadily and excessively, and it is predicted to rise even further. Budget cuts and fewer job opportunities as a result of the crisis are taking their toll on the American economy, which is still recovering. Trade figures as well as unemployment are still below average. Subsequently, the national debt and the national debt of the United States per capita have more or less quadrupled since the 1990s. Interestingly, the United States is not even among the top ten of countries with the highest public debt in relation to gross domestic product in international comparison. Japan, Greece and Italy – among others – report far higher figures than the United States.

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.

The national debt in Romania was forecast to continuously increase between 2024 and 2029 by in total 157.9 billion U.S. dollars (+74.7 percent). After the tenth consecutive increasing year, the national debt is estimated to reach 369.28 billion U.S. dollars and therefore a new peak in 2029. Notably, the national debt was continuously increasing over the past years.As defined by the International Monetary Fund, the general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future.Find more key insights for the national debt in countries like Cyprus, Albania, and Montenegro.

The national debt in Germany was forecast to continuously increase between 2024 and 2029 by in total 239.2 billion U.S. dollars (+8.17 percent). After the tenth consecutive increasing year, the national debt is estimated to reach 3.2 trillion U.S. dollars and therefore a new peak in 2029. Notably, the national debt was continuously increasing over the past years.According to the International Monetary Fund, the general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future.Find more statistics on other topics about Germany with key insights such as the budget balance in relation to the gross domestic product, the total population, and ratio of the national debt to the gross domestic product.

The national debt in China was forecast to continuously increase between 2024 and 2029 by in total 10.6 trillion U.S. dollars (+63.47 percent). After the tenth consecutive increasing year, the national debt is estimated to reach 27.2 trillion U.S. dollars and therefore a new peak in 2029. Notably, the national debt was continuously increasing over the past years.The indicator describes the general government gross debt which consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future.Find more key insights for the national debt in countries like Taiwan, Japan, and South Korea.

The national debt in Mexico was forecast to continuously increase between 2024 and 2029 by in total 334.3 billion U.S. dollars (+33.68 percent). After the tenth consecutive increasing year, the national debt is estimated to reach 1.3 trillion U.S. dollars and therefore a new peak in 2029. Notably, the national debt was continuously increasing over the past years.As defined by the International Monetary Fund, the general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future.Find more statistics on other topics about Mexico with key insights such as the ratio of government expenditure to the gross domestic product, the total population, and the average inflation rate.

The national debt in Uruguay was forecast to continuously increase between 2024 and 2029 by in total 22.8 billion U.S. dollars (+44.82 percent). After the tenth consecutive increasing year, the national debt is estimated to reach 73.63 billion U.S. dollars and therefore a new peak in 2029. Notably, the national debt was continuously increasing over the past years.As defined by the International Monetary Fund, the general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future.Find more key insights for the national debt in countries like Paraguay, Argentina, and Chile.

The national debt in Brazil was forecast to continuously increase between 2024 and 2029 by in total 870.6 billion U.S. dollars (+48.79 percent). After the tenth consecutive increasing year, the national debt is estimated to reach 2.7 trillion U.S. dollars and therefore a new peak in 2029. Notably, the national debt was continuously increasing over the past years.The indicator describes the general government gross debt which consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future.Find more statistics on other topics about Brazil with key insights such as the average inflation rate, the growth of the real the gross domestic product, and the total population.

In 2023, the national debt of India amounted to around 2.83 trillion U.S. dollars. Projections show an upward trend, with a significant increase each year. Honor thy national debtNational debt, also called government debt or public debt, is money owed by the federal government. It can be divided into internal debt, (which is owed to lenders in the country) and external debt (which is owed to foreign lenders). National debt is created and increased by using government bonds, for example, or by borrowing money from other nations due to financial struggles (well-known case in point: Greece). A quite complex issue, national debt is expected to be paid back in accordance with certain regulations overseen by the Bank for International Settlements (BIS), a financial organization owned by central banks. India’s debt is rising, but so is its economic growthIndia’s liabilities have increased significantly, and forecasts show no end in sight. While India is a fast-growing economy and considered one of the main emerging economies, the so-called BRIC countries, India has been investing and borrowing money from commercial banks as well as several non-banking finance companies, and its national debt today makes up almost 70 percent of its GDP. Luckily, even though the national debt is forecast to increase, this share of GDP is predicted to decrease, as is the trade deficit in the long run, despite a significant jump back into the red in 2017.

The national debt in Ecuador was forecast to increase between 2024 and 2029 by in total 4.3 billion U.S. dollars (+6.27 percent). This overall increase does not happen continuously, notably not in 2029. The national debt is estimated to amount to 72.88 billion U.S. dollars in 2029. According to the International Monetary Fund, the general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future.Find more statistics on other topics about Ecuador with key insights such as the growth of the real the gross domestic product, the ratio of government expenditure to the gross domestic product, and the unemployment rate.

The national debt in Morocco was forecast to continuously increase between 2024 and 2029 by in total 27.2 billion U.S. dollars (+25.12 percent). After the tenth consecutive increasing year, the national debt is estimated to reach 135.44 billion U.S. dollars and therefore a new peak in 2029. Notably, the national debt was continuously increasing over the past years.As defined by the International Monetary Fund, the general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future.Find more key insights for the national debt in countries like Tunisia, Egypt, and Algeria.

In the United States in 2024, the estimated gross public debt of states amounted to 1.04 trillion U.S. dollars. By 2029, this figure is expected to increase to 1.34 trillion U.S. dollars. The national debt of the United Stated can be found here.

The ratio of national debt to gross domestic product (GDP) in Mexico was forecast to increase between 2024 and 2029 by in total 0.3 percentage points. This overall increase does not happen continuously, notably not in 2026. According to this forecast, in 2029, the ratio will have increased for the third consecutive year to 58.08 percent. The general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. Here it is depicted in relation to the country's GDP, which refers to the total value of goods and services produced during a year.Find more statistics on other topics about Mexico with key insights such as the budget balance in relation to the gross domestic product, the growth of the real the gross domestic product, and the average inflation rate.

The statistic shows the national debt of Austria from 2019 to 2023, with projections up until 2029. In 2023, the national debt of Austria amounted to around 380.76 billion U.S. dollars.

The national debt in Egypt was forecast to continuously increase between 2024 and 2029 by in total 151.4 billion U.S. dollars (+58.68 percent). After the tenth consecutive increasing year, the national debt is estimated to reach 409.42 billion U.S. dollars and therefore a new peak in 2029. Notably, the national debt was continuously increasing over the past years.The indicator describes the general government gross debt which consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future.Find more key insights for the national debt in countries like Tunisia, Morocco, and Algeria.

This statistic shows the national debt of Italy from 2019 to 2023, with projections up until 2029. In 2023, the national debt in Italy was around 3.1 trillion U.S. dollars.

The national debt in Russia was forecast to continuously increase between 2024 and 2029 by in total 255.8 billion U.S. dollars (+63.19 percent). After the tenth consecutive increasing year, the national debt is estimated to reach 660.55 billion U.S. dollars and therefore a new peak in 2029. Notably, the national debt was continuously increasing over the past years.The indicator describes the general government gross debt which consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future.Find more statistics on other topics about Russia with key insights such as the share in the global GDP adjusted for purchasing power parity, the ratio of government expenditure to the gross domestic product, and the gross domestic product in current prices.

The national debt in Iran was forecast to continuously increase between 2024 and 2029 by in total 4.4 trillion U.S. dollars (+271.53 percent). After the tenth consecutive increasing year, the national debt is estimated to reach 6.1 trillion U.S. dollars and therefore a new peak in 2029. Notably, the national debt was continuously increasing over the past years.According to the International Monetary Fund, the general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future.Find more key insights for the national debt in countries like Bahrain, Iraq, and Saudi Arabia.

The national debt in Sweden was forecast to continuously increase between 2024 and 2029 by in total 16.8 billion U.S. dollars (+7.57 percent). After the seventh consecutive increasing year, the national debt is estimated to reach 238.59 billion U.S. dollars and therefore a new peak in 2029. The indicator describes the general government gross debt which consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future.Find more key insights for the national debt in countries like Iceland, Norway, and Denmark.