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.

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

Total national debt as of yesterday

Debt to the Penny is the total debt of the U.S. government and is reported daily. It is made up of intragovernmental holdings and debt held by the public.

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

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 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 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 national debt consists of public debt and intragovernmental debt.

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

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

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

Nearly 70% of the US government’s debt is domestic

This includes intragovernmental holdings like the Social Security Trust Fund and investments from US citizens, banks, and mutual funds. About 30% is foreign-held, with countries like Japan and China as major creditors, investing in US Treasury securities due to their perceived safety.

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.

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.

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

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

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

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

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

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

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

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

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.

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

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.

Visualize government spending with USAFacts to see complex federal budget data as clear charts and summaries, and explore where the money goes as well as how revenue, deficits, and debt change over time.

Many local governments also struggle to rein in their spending.

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.

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.

Investors collectively own $28T in US Treasury securities

The 10-year Treasury yield is a central measure of the health of the economy, shaping how much both the government pays on its debt and the cost of borrowing for the private sector. This explainer provides stats and explainers on the important metric.

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.

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.

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.

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.