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.

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.

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.

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.

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

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.

United States Federal Debt: Statutory Limit: Balance data was reported at 0.025 USD bn in Jan 2018. This stayed constant from the previous number of 0.025 USD bn for Dec 2017. United States Federal Debt: Statutory Limit: Balance data is updated monthly, averaging 133.177 USD bn from Jul 1974 (Median) to Jan 2018, with 487 observations. The data reached an all-time high of 1,910.283 USD bn in Feb 2010 and a record low of 0.000 USD bn in Apr 2013. United States Federal Debt: Statutory Limit: Balance data remains active status in CEIC and is reported by Bureau of the Fiscal Service. The data is categorized under Global Database’s USA – Table US.F004: Federal Debt. Pursuant to 31 U.S.C. 3101(b). By Act of February 4, 2013, Public Law 113-3 as well as the Continuing Appropriations Act, 2014, Public Law 113-46 the Statutory Debt Limit has been suspended for the periods of Feb-13 to Apr-13 and Oct-13 to Jan-14. Pursuant to 31 U.S.C. 3101(b). By the Bipartisan Budget Act of 2015, Public Law 114-74, the Statutory Debt Limit has been suspended through March 15, 2017. Pursuant to 31 U.S.C. 3101(b). By the Continuing Appropriations Act, 2018 and Supplemental Appropriations for Disaster Relief Requirements Act, 2017, Public Law 115-56, the Statutory Debt Limit was suspended through December 8, 2017. Pursuant to 31 U.S.C. 3101(b). By the Continuing Appropriations Act, 2018 and Bipartisan Budget Act, 2018, Public law 115-119, the Statutory Debt Limit was suspended through March 1, 2019.

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.

United States Federal Debt: Statutory Limit: Public Debt Subject to Limit (PDSL) data was reported at 21,661.035 USD bn in Oct 2018. This records an increase from the previous number of 21,474.848 USD bn for Sep 2018. United States Federal Debt: Statutory Limit: Public Debt Subject to Limit (PDSL) data is updated monthly, averaging 5,128.758 USD bn from Jul 1974 (Median) to Oct 2018, with 532 observations. The data reached an all-time high of 21,661.035 USD bn in Oct 2018 and a record low of 475.610 USD bn in Jul 1974. United States Federal Debt: Statutory Limit: Public Debt Subject to Limit (PDSL) 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.F004: Federal Debt.

United States Federal Debt: Statutory Limit: PDSL: Intragovernmental Holdings data was reported at 5,785.296 USD bn in Nov 2018. This records a decrease from the previous number of 5,838.311 USD bn for Oct 2018. United States Federal Debt: Statutory Limit: PDSL: Intragovernmental Holdings data is updated monthly, averaging 4,448.645 USD bn from Jan 2001 (Median) to Nov 2018, with 215 observations. The data reached an all-time high of 5,838.311 USD bn in Oct 2018 and a record low of 2,298.812 USD bn in Jan 2001. United States Federal Debt: Statutory Limit: PDSL: Intragovernmental Holdings 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.F004: Federal Debt.

This table represents the issues and redemption of marketable and nonmarketable securities. All figures are rounded to the nearest million.

United States Federal Debt: Statutory Limit: PDSL: Debt Held by the Public data was reported at 15,822.723 USD bn in Oct 2018. This records an increase from the previous number of 15,740.453 USD bn for Sep 2018. United States Federal Debt: Statutory Limit: PDSL: Debt Held by the Public data is updated monthly, averaging 7,713.217 USD bn from Jan 2001 (Median) to Oct 2018, with 214 observations. The data reached an all-time high of 15,822.723 USD bn in Oct 2018 and a record low of 3,220.106 USD bn in Jul 2001. United States Federal Debt: Statutory Limit: PDSL: Debt Held by the Public 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.F004: Federal Debt.

This table represents cash basis adjustments to the issues and redemptions of Treasury securities in the Public Debt Transactions table. All figures are rounded to the nearest million.

This table represents the breakdown of taxes that are received by the federal government. Federal taxes received are represented as deposits in the Deposits and Withdrawals of Operating Cash table. All figures are rounded to the nearest million.

This table represents the breakdown of tax refunds by recipient (individual vs business) and type (check vs electronic funds transfer). Tax refunds are also represented as withdrawals in the Deposits and Withdrawals of Operating Cash table. All figures are rounded to the nearest million. As of February 14, 2023, Table VI Income Tax Refunds Issued was renamed to Table V Income Tax Refunds Issued within the published report.

United States CBO Projection: Federal Debt: Debt Subject to Limit data was reported at 33,860.879 USD bn in 2028. This records an increase from the previous number of 32,551.785 USD bn for 2027. United States CBO Projection: Federal Debt: Debt Subject to Limit data is updated yearly, averaging 20,782.766 USD bn from Sep 2007 (Median) to 2028, with 22 observations. The data reached an all-time high of 33,860.879 USD bn in 2028 and a record low of 8,921.343 USD bn in 2007. United States CBO Projection: Federal Debt: Debt Subject to Limit 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.

United States Public Debt Subject to Limit data was reported at 36,103.970 USD bn in 15 May 2025. This records a decrease from the previous number of 36,103.971 USD bn for 14 May 2025. United States Public Debt Subject to Limit data is updated daily, averaging 20,592.098 USD bn from Oct 2005 (Median) to 15 May 2025, with 4929 observations. The data reached an all-time high of 36,103.972 USD bn in 18 Apr 2025 and a record low of 13,668.647 USD bn in 10 Nov 2010. United States Public Debt Subject to 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.