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

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.

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 national debt of the US has been trending upward for over a century

The national debt of the US fluctuates. A federally managed database is updated daily and shows how the debt constantly changes over a 24-hour period. It’s broken down by what the government owes individual investors (debt held by the public) and what’s due to one sector of the government by another (intragovernmental holdings).

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.

The US national debt has become more important in recent months

In a moment of deep economic uncertainty, the national debt now matters more than ever. Listen to this podcast to find out why and also explore answers to questions like, "Who does the US owe money to and why?"

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.

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

“The federal government faces an unsustainable fiscal future,” according to this bleak 2025 report on the nation’s budget from the US Government Accountability Office. If unaddressed, the country’s debt could double its gross domestic product, warns the nonpartisan agency. For individuals, this may mean stagnant wages, higher borrowing costs, and more expensive goods.

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.

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.

Roughly 43 million US borrowers owe roughly $1.7T in student debt, the second-largest source of consumer debt behind mortgages.

US consumers collectively owe more than $1T to credit card companies—almost as much as they owe in auto loans.

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.

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.

Tax policy can have a direct impact on the national debt

Past presidents' changes to tax codes have inflated the deficit. An expert on the topic explains the interplay between policy and the national budget while debunking 10 tax-related myths in this podcast.

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.

Andrew Jackson was the first and only president to eliminate the national debt

After Jackson slashed spending and began selling federal land, the government was accumulating more money than it was spending. The situation was unprecedented, but it didn’t last. Too much money was being printed and land prices rose to unsustainable levels. Within a year, the economy tumbled into a depression.

A history of every US government shutdown

There have been 21 shutdowns of the federal government in US history, a result of Congress's failure to pass appropriations bills in time. While the cause of most of the shutdowns stems from issues around the national debt and budget, a few originated in fights over unrelated policies. Dive into the history of each one with this comprehensive list.

The portrait of George Washington was first placed on the one-dollar bill in 1869

Trace the history of the US dollar from its colonial roots to its adoption as the national currency. The video explores the word's Germanic origins, how the dollar sign evolved from the Spanish peso, and how Washington's portrait came to define US paper currency.

Visualizing the multibillion dollar cost of US weather disasters

The US has sustained 332 weather and climate disasters since 1980 where overall damages/costs reached or exceeded $1B (including CPI adjustment to 2022). The total cost of these 332 events exceeds $2.275T.

US defense spending peaked during the Korean War at 13% of GDP

In 1953, during the Korean War, US defense spending reached 13.58% of GDP—more than three times today’s level. That peak marked the most militarized moment of the Cold War, and spending has never returned to that level since.

How World War II affects your wallet today

The world's deadliest conflict also impacted social programs extensively, including ways that still affect your money today. World War II is responsible for the practice of employers withholding tax payments and sponsoring health insurance, as well as the norm of providing school lunches for the nation's schoolchildren. Watch this brief video to learn more.

Congress has handled past crises through emergency lawmaking and institutional expansion

In a 2020 podcast from the National Constitution Center, historians and political scientists examine how Congress navigated past national crises—particularly the Civil War—and what those moments reveal about governing today.

The Great Depression is one of history's most notable periods of deflation

The stock market crash of 1929 helped trigger a period of deflation in the United States by creating a drastic decrease in the total money supply. Because of the United States' central role in the world economy, virtually every single country was impacted by the recession.

The highest inflation in US history was estimated at 30% in 1778

This was just after the Revolutionary War. Both World Wars also brought double-digit inflation. It's worth noting that exact inflation rates in early America are difficult to calculate precisely.

See a timeline of the Declaration's creation

This National Archives timeline walks through the Declaration’s creation step by step—from early calls for independence to drafting, approval, and final signatures—highlighting the key moments that led to the Colonies’ break from Britain.

Explore a timeline of US dependence on crude oil from 1850 to 2023

Oil dependence began with the rise of oil as a commodity, followed by an era of geopolitical competition for the resource after World War II. The domestic fracking boom, which started around 2006, was driven by a desire to reduce the nation's dependence on international adversaries for energy.

The Civil War was the deadliest conflict in American history

Between 1861 and 1865, an estimated 620,000 to 750,000 soldiers died from battle and disease—more than in all other US wars combined.

The power and influence of the American presidency have expanded significantly over time—far beyond what the founders envisioned.

The US dollar is the most widely circulated currency in the world, and is involved in nearly 90% of global transactions

Explore an interactive map of battles from the American Revolution, along with detailed summaries of each engagement

Before the current East Wing ballroom project, only two White House renovations in the past 100 years cost more than $10M.

The USPS spent $3.97B in 2024, accounting for .058% of the federal budget.

The US Constitution is widely regarded as the longest-standing written national constitution still in force—see how it has influenced rights worldwide.

The United States has had a tumultuous relationship with Cuba since its 1959 revolution, highlighted by a nuclear crisis and a decades-long trade embargo.

The original copy of the Declaration of Independence is not a pristine document, and even features a smudged anonymous handprint in the bottom left corner.

The price of gas is a composite made up of several different factors, with the federal gas tax making up less than 20% of what drivers pay at the pump.

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

Some coin denominations have ridges etched on their sides, partly to prevent counterfeiting, in a practice called 'reeding.'

View the ten deadliest tornadoes in US history.

Fireworks-related ER visits are on the rise—in 2024, they increased by 52% as compared to the prior year.

The American Society of Civil Engineers' infrastructure report card gave the US a C in 2025, its highest grade since the project launched in 1998.

Use this calculator to find the dollar value of your mental load, from meal planning to coordinating after-school care for your children.

See the most iconic photos from four decades of LIFE magazine

In 2019, a laptop loaded with six of the worst malware in history and described as 'an exhibit of historical weaponry' sold for $1.3M.

Alzheimer's can lead to brain shrinkage, with an average of around 2% of volume reduction per year

See the evolution of Ebola vaccine and treatment development.

Volcanic activity may have triggered the Black Death by spewing gases that led to crop failures in Europe, thus forcing the import of grain ships with plague-infested fleas.

In 2009, the nation was gripped by the story of a missing young boy who was believed to be floating over Colorado in a homemade balloon, until it was revealed that he was at home the whole time.

Some researchers have labeled nomophobia, the fear of being without your phone, as 'the phobia of the 21st century.'

Explore the history, structure, and species of Australia's Great Barrier Reef with this interactive journey narrated by Sir David Attenborough.