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What is the Total National Debt?

National Debt: Strictly speaking, the US national debt is the total of federal, state, and local debt. But people often talk about the debt of the federal government as the “national debt.”

At the end of FY 2018 the US national debt was “guesstimated” to be $24.46 trillion, including federal $21.46 trillion, state $1.16 trillion, and local $1.84 trillion.

Also, see Federal Debt, State Debt, and Local Debt.

 

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Recent US Total National Debt

Chart D.11t: Recent US National Debt

Chart D.12t: Recent US National Debt as Pct GDP

Public Debt in the United States is principally the debt of the federal government.

In the last decade total government debt has gone from under $12 trillion to almost $25 trillion.

In 2018 the total US government debt, federal, state, and local, was $24.46 trillion.

But in the last ten years the federal debt has almost doubled to 103 percent GDP, while state government debt has stayed at about 6 percent GDP and local government debt has stayed at 10 percent GDP.

In 2018 the total US government debt was 119.4 percent of GDP.

US Total Debt Since 1900

Chart D.13t: Total National Debt since 1900

Government debt began the 20th century at less than 20 percent of GDP. It jerked above 45 percent as a result of World War I and above 70 percent in the depths of the Great Depression. Debt has breached 100 percent of GDP twice since 1900: during World War II and in the aftermath of the Crash of 2008.

Suggested Video: All About Debt

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Find DEFICIT stats and history.

US BUDGET overview and pie chart.

Find NATIONAL DEBT today.

See FEDERAL BUDGET breakdown and estimated vs. actual.

See BAR CHARTS of debt, debt.

Check STATE debt: CA NY TX FL and compare.

See DEBT ANALYSIS briefing.

See DEBT HISTORY briefing.

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Make your own CUSTOM CHART.

Debt Data Sources

Debt data is from official government sources.

Gross Domestic Product data comes from US Bureau of Economic Analysis and measuringworth.com.

Detailed table of debt data sources here.

Federal debt data begins in 1792.

State and local debt data begins in 1820.

State and local debt data for individual states begins in 1957.

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Gross Federal Debt

Debt: $22,539,506,714,045.44

Data Sources for 2014_2024:

Sources for 2014:

GDP, GO: GDP, GO Sources
Federal: Fed. Budget: Hist. Tables 3.2, 5.1, 7.1
State and Local: State and Local Gov. Finances

Sources for 2024:

GDP, GO: GDP, GO Sources
Federal: Fed. Budget: Hist. Tables 3.2, 5.1, 7.1
State and Local: State and Local Gov. Finances
'Guesstimated' by projecting the latest change in reported spending forward to future years

> data sources for other years
> data update schedule.

CBO Long Term Budget Outlook for 2019

On June 25, 2019 the Congressional Budget Office released its annual Long Term Budget Outlook for 2019, which projects federal spending and revenue out into the 2040s.  As before, the CBO study shows that federal health-care programs and interest costs will eat the budget, with federal spending exceeding 28 percent GDP by mid century while federal revenue stays below 20 percent GDP.

UsGovernmentspending.com has updated its chart of the CBO Long Term Budget Outlook here.  You can download the data and also view CBO Long Term Budget Outlooks going back to 1999.

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