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.

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.

The U.S. debt held by the public amounted to 24.24 trillion U.S. dollars in 2023, which was about 97.3 percent of the U.S. GDP. The forecast predicts an increase in public debt up to 48.3 trillion U.S. dollars in 2034, which would be about 116 percent of the U.S. GDP. The actual total debt accrued by the U.S. annually can be accessed here.

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.

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.

Households Debt in the United States decreased to 69.20 percent of GDP in the fourth quarter of 2024 from 70.50 percent of GDP in the third quarter of 2024. This dataset provides - United States Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Federal Debt Held by the Public as Percent of Gross Domestic Product (FYGFGDQ188S) from Q1 1970 to Q1 2025 about public, debt, federal, GDP, 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 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.

Key information about United States Total Debt: % of GDP

• United States Total Debt accounted for 722.0 % of the country's GDP in 2024, compared with the ratio of 722.0 % in the previous quarter.
• US Total Debt: % of GDP data is updated quarterly, available from Dec 1951 to Sep 2024.
• The data reached an all-time high of 834.9 % in Mar 2021 and a record low of 309.4 % in Jun 1953.

CEIC calculates quarterly Total Debt as % of Nominal GDP from quarterly Total Debt and quarterly Nominal GDP. Total Debt is calculated as sum of Liabilities for NonFinancial Business, Federal Government, State and Local Government, Households & Nonprofit Organizations and Financial Business less Mutual Fund Shares. Federal Reserve Board provides Total Debt in local currency. Bureau of Economic Analysis provides Nominal GDP in local currency.

France recorded a Government Debt to GDP of 113 percent of the country's Gross Domestic Product in 2024. This dataset provides the latest reported value for - France Government Debt to GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Graph and download economic data for Projection of General government gross debt for United States (GGGDTPUSA188N) from 2025 to 2030 about projection, gross, debt, government, and USA.

CBO Projection: Fed Debt Held by Public: Less Fin'l Assets: % of GDP data was reported at 88.649 USD bn in 2028. This records an increase from the previous number of 86.808 USD bn for 2027. CBO Projection: Fed Debt Held by Public: Less Fin'l Assets: % of GDP data is updated yearly, averaging 70.889 USD bn from Sep 2010 (Median) to 2028, with 19 observations. The data reached an all-time high of 88.649 USD bn in 2028 and a record low of 54.538 USD bn in 2010. CBO Projection: Fed Debt Held by Public: Less Fin'l Assets: % of GDP 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 CBO Projection: Long Term: Federal Debt Held by Public: % of GDP data was reported at 152.000 % in 2048. This records an increase from the previous number of 148.000 % for 2047. United States CBO Projection: Long Term: Federal Debt Held by Public: % of GDP data is updated yearly, averaging 97.000 % from Sep 2010 (Median) to 2048, with 39 observations. The data reached an all-time high of 152.000 % in 2048 and a record low of 62.000 % in 2010. United States CBO Projection: Long Term: Federal Debt Held by Public: % of GDP data remains active status in CEIC and is reported by Congressional Budget Office. The data is categorized under Global Database’s United States – Table US.F006: Federal Debt: Projection: Congressional Budget Office.

Graph and download economic data for Federal Outlays: Interest as Percent of Gross Domestic Product (FYOIGDA188S) from 1940 to 2024 about outlays, federal, percent, interest, GDP, and USA.

Key information about Japan Government Debt: % of GDP

• Japan Government debt accounted for 216.2 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 217.2 % in the previous quarter.
• Japan government debt to GDP ratio data is updated quarterly, available from Dec 1994 to Dec 2024.
• The data reached an all-time high of 225.8 % in Mar 2021 and a record low of 55.9 % in Dec 1994.

CEIC calculates quarterly Government Debt as % of Nominal GDP from monthly Government Debt and rolling sum of quarterly Nominal GDP. The Bank of Japan provides Government Debt in local currency. The Economic and Social Research Institute provides Nominal GDP in local currency. Government Debt covers Central Government only.


Related information about Japan Government Debt: % of GDP

• In the latest reports, Japan National Government Debt reached 9,396.6 USD bn in Apr 2023.
• The country's Nominal GDP reached 1,080.1 USD bn in Mar 2023.

Germany recorded a Government Debt to GDP of 62.50 percent of the country's Gross Domestic Product in 2024. This dataset provides the latest reported value for - Germany Government Debt to GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In the third quarter of 2024, household debt in the United States amounted to over 71.66 percent of its GDP. It can be generally observed that U.S. households are more indebted by the end of the year than in any other quarter. The debt of households peaked in the last quarter of 2020, reaching the highest value since 2013. Debt to GDP ratio As it can be observed here, the household debt to GDP ratio decreased overall in the recent years. The steady growth of the gross domestic product in the United States could be a factor explaining this tendency. If the volume of debt grows at a slower pace than the GDP, the debt to GDP ratio would decrease. In addition to that, the overall value of mortgage debt in the U.S., which is the most significant component of the household debt, decreased from 2012 to the third quarter of 2014, but it has rebounded since then. Public debt in the U.S. Public debt in the United States, which is the amount of money borrowed by the government to finance budget deficits, has been increasing almost every single year. Not only that, but according to that forecast it is also expected to keep increasing during the coming years. The major holders of American government debt, as of December 2023, were Federal Reserve and government accounts and foreign and international holders. The ratio of national debt to GDP of the United States was higher than that of other major economies, but lower than that of Japan. Some of the lowest debt to GDP ratios were observed in Hong Kong SAR, Kuwait, and Turkmenistan.

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.