Total national debt as of yesterday

The national debt is the total amount the US government owes its creditors

This US Treasury page explains what the national debt is, how it accumulates from annual deficits, and why rising debt can affect interest costs, fiscal flexibility, and long-term economic stability.

Explore a database that shows how the US national debt changes over a 24-hour period.

The national debt consists of public debt and intragovernmental debt.

See a chart showing how much the US federal government pays in interest on its debt.

Key moments that shaped the national debt include the Civil War, both World Wars, the 2008 recession, and the COVID-19 pandemic.

In 2025, the US national debt per person was $113K.

The US has carried debt since 1791

After the Revolutionary War, the US owed $75M to nations like France. Debt builds when spending exceeds revenue, funding programs, wars, and economic recovery efforts. Most debt is domestic, like Social Security bonds, with foreign nations also holding a share.

About 80% of US debt is held by domestic and foreign investors.

Nearly 70% of the US government's debt is domestic.

The US national debt is over $31T

The US national debt is at its highest level ever. Learn how the national debt grew to that level and what it means for US economic growth with charts and simple explanations.

The federal deficit is the gap between what the US spends and what it collects.

Some economists argue that the national debt is not a critical concern.

For everyday Americans, a relatively high national debt can lead to higher interest rates on financial products such as mortgages.

The current federal budget, deficit, and debt, in charts

The US Treasury regularly publishes updated data on the federal budget, and this site hosts visualizations of that data. See reports on spending, revenues, deficits, and where the national debt stands.

Tax policy can have a direct impact on the national debt, with past presidents' changes to tax codes inflating the deficit.

In 2025, the US credit rating was downgraded over concerns about the debt-to-GDP ratio.

The US debt ceiling is the threshold Congress sets for federal borrowing.

The national debt is growing at a faster rate than the economy.

Roughly 43 million Americans hold a cumulative $1.6T in federal student debt

About 43 million Americans hold a cumulative $1.6T in federal student debt. That's more than the country's combined credit card balance, according to data from in the first quarter of the year 2024.

The federal government has spent more money annually than it has collected every year since 2022.

America’s looming debt spiral

The United States has a debt problem. In 1989, the national debt was almost $3T. As of 2023, that number had ballooned to more than $30T. This video explains why the national debt grew so quickly, and what America's options are going forward. It also explores why the problem is trapped in political gridlock. Watch it to find out more.

If the US government paid off its debt, it could disrupt the entire bond market, as Treasury bonds are among the most common bonds for investors and the majority of the national debt is in bonds.

Vizualize global debt by country

Global debt reached $226T by the end of 2020—the biggest one-year jump since World War II. This graphic compares the debt-to-GDP ratio of various countries.

The debt ceiling is a legal cap on how much money the US government can borrow.

Many local governments also struggle to rein in their spending.

Minting a coin that can pay off the federal debt has been proposed as a quick fix to rampant borrowing.

The average US household carries $105,056 in total debt

This article breaks down the average household debt by category, including credit card debt ($6,523), personal loans ($11,274), and more.

Credit cards were the fourth-highest source of US consumer debt as of 2024

US consumer debt nationwide totaled $17.9T as of 2024 Q3. Mortgage debt ranked as number one, with student loan debt coming in at number two.

The US and Denmark are the only two countries known to abide by a predetermined borrowing limit.

Some argue that the rising US national debt has become more important in recent months.

The federal debt ceiling 101

The debt ceiling periodically takes center stage as Congress debates whether to increase or suspend this self-imposed limit on its borrowing authority. Learn the basics on this crucial feature of US fiscal policy with this Q&A.

The trillion-dollar coin is a proposed platinum coin with a face value of $1T, which could be used to reduce the national debt

This conceptual strategy was first proposed in 2011 as a potential alternative to raising the US debt ceiling. Although there were several high-profile proponents of the idea, it was eventually rejected in 2013 by Treasury Department and Federal Reserve officials.

Does Social Security contribute to the national debt?

Social Security operates through a trust fund built from payroll taxes. When costs outpace revenue, as they have since 2021, the program redeems Treasury bonds to cover the gap. To repay these bonds, the government often borrows more money, indirectly adding to the national debt and impacting fiscal policy.

See the growth of US consumer debt

Americans reached an all-time high debt burden in 2024. Data compiled from The Kaplan Group shows the evolution of auto loans, mortgages, credit card debt, and student loans from 2003 to 2023, and finds that after a brief decline after 2008, the total debt burden grew rapidly.

Visualize $102T of global debt, based on data from the International Monetary Fund's October 2024 outlook.

Why Americans are drowning in credit card debt

Americans owe more than $1T to credit card companies. And with rising interest rates that prevent cardholders from paying down debt (not to mention the rising cost of living), that number is likely to keep growing. A podcast episode explains how the US got here, and what policymakers and individuals can do about it.

Total student debt has ballooned to $1.7T, up almost 150% since the Great Recession

While the burden falls across roughly 43 million Americans, the debt load itself is not uniform—millennials and those pursuing graduate or professional degrees represent an outsized portion of loans.

Student debt has a widespread economic impact

Student debt is no different than the big rent or car payment that comes out of someone’s paycheck every month: Its presence affects that household’s purchasing power. Multiply that household by the 43 million Americans who had outstanding federal loan debt in September 2023, and student debt’s impact becomes considerable.

Investors collectively owned $28T in US Treasury securities as of 2025.

A 'debt trap' refers to the need for loans or credit to cover the expenses incurred from other debt

Debt traps can be caused by unforeseen expenses or inadequate savings and can be a brutal cycle to break. At the end of 2025, total household debt in the US reached $18.8T, according to data from the Federal Reserve of New York.

Treasury bonds, notes, and bills are critical vehicles for the federal government to raise money for public expenses and manage the national debt.

Just 7% of student loan borrowers account for 40% of outstanding student loan debt

Most student loan debt went to support graduate studies. Total student loan debt in the US is more than $1.6T. Downloadable tables show the raw data behind federal student aid.

Despite being one of the world's richest nations, Switzerland has the highest household debt of any country in the world, totaling 125% of its GDP.

What happens if the US doesn't pay its debt?

A video created during the debt ceiling debates of 2021 outlining what would happen if the US failed to meet its debt obligations. Its lessons are applicable to today's debates.

College majors ranked by median resulting student debt

As of 2023, student loans were the third-largest category of US household debt at $1.6T. But not all student debt is created equal. Statistically, some majors incur more debt than others. Behavioral science majors, for instance, had the highest median student debt as of 2022.

When the US hits the debt ceiling, the Treasury uses emergency measures to avoid default

After the US reached its debt ceiling in January 2023, the Treasury deployed "extraordinary measures" to keep paying obligations. This article explains the steps, how they work, and why they last only for a limited time. (Some readers may experience a paywall.)

Alexander Hamilton consolidated the states' debts, implemented a tax system, and established a national bank.

Why Ray Dalio thinks the US deficit is a political problem

Dalio frequently argues that debt cycles are inevitable and a tradition of every empire. However, he said in 2025 that the US was headed for a debt crisis. Dalio says that while Republicans and Democrats agree on the math of the debt crisis, all politicians make promises to neither increase taxes nor cut government benefits—which Dalio says can't close the deficit.

About one dollar in every six that are owed to the federal government aren't paid each year

That adds up to close to $1T in what's known as the "tax gap." Read a breakdown on the main drivers of tax evasion (distinct from legal tax avoidance) in the US.

Watch what would happen if you literally had all the money in the world.