Total public debt outstanding, United States
Total public debt outstanding in the United States was $40,171.8 bn in , down 0.0% from and up 6.7% from a year earlier. Over the latest 12 readings it moved between $38,040.1 bn and $40,175.6 bn. The next reading is for October 2026. Source: US Treasury, Debt to the Penny; history from .
Key takeaways
- Total public debt outstanding at $40,171.8 bn in beats 100% of readings since (US Treasury).
- Against a ten-year average of $28,711.5 bn, total public debt outstanding is above that norm by $11,460.3 bn (US Treasury).
What this indicator is and why it matters
Total public debt outstanding is all debt issued by the US Treasury: debt held by the public plus intragovernmental holdings, the Treasury securities owned by federal trust funds such as Social Security and federal employee retirement funds. It comes from the Treasury's daily Debt to the Penny figures, read here at each month's final reported date.
It is the figure most often quoted in news about the national debt, and it is close to the amount subject to the statutory debt limit set by Congress, which makes it the number to watch in debt-limit negotiations. Changes in trust fund balances move it even when the government borrows nothing new from markets.
For economic analysis, use debt held by the public instead. Intragovernmental holdings are money one part of the government owes another, so they do not draw on private savings or affect interest rates in the same way. When the Social Security trust funds draw down their holdings, intragovernmental debt falls while debt held by the public rises by a similar amount, with the total changing little. During debt-limit standoffs the total can stay flat for months and then jump once the limit is raised.
Where it sits in history
Total public debt outstanding is at its lowest since , when it stood at $39,771.6 bn. Within ten years, total public debt outstanding beats 99% of readings.
| Window | Latest is higher than | Average | Highest | Lowest |
|---|---|---|---|---|
| Since January 2006 | 100% of readings | $21,086.3 bn | $40,175.6 bn | $8,196.1 bn |
| Last ten years | 99% of readings | $28,711.5 bn | $40,175.6 bn | $19,573.4 bn |
| Last five years | 98% of readings | $34,329.1 bn | $40,175.6 bn | $28,428.9 bn |
- Total public debt outstanding $40,172bn
Recent readings
Last five years
- Total public debt outstanding $40,172bn
Latest readings
| Period | Value | Change from previous |
|---|---|---|
| $40,171.8 bn | 0.0% | |
| $40,175.6 bn | +1.0% | |
| $39,771.6 bn | +0.8% | |
| $39,462.4 bn | +0.6% | |
| $39,207.8 bn | +0.6% | |
| $38,967.8 bn | -0.2% | |
| $39,065.4 bn | +0.8% | |
| $38,769.8 bn | +0.6% | |
| $38,521.4 bn | +0.0% | |
| $38,514.0 bn | +0.3% | |
| $38,396.2 bn | +0.9% | |
| $38,040.1 bn | +1.1% | |
| $37,637.6 bn | +1.0% |
Annual averages
By calendar-year average, total public debt outstanding peaked in ($37,006.1 bn) and bottomed in ($8,444.5 bn). 2026 to date: $39,346.0 bn, after $37,006.1 bn in 2025.
| Year | Average | Low | High | Readings |
|---|---|---|---|---|
| 2026 (part year) | $39,346.0 bn | $38,521.4 bn | $40,175.6 bn | 9 |
| 2025 | $37,006.1 bn | $36,211.5 bn | $38,514.0 bn | 12 |
| 2024 | $35,120.6 bn | $34,191.2 bn | $36,218.6 bn | 12 |
| 2023 | $32,491.4 bn | $31,455.0 bn | $34,001.5 bn | 12 |
| 2022 | $30,723.1 bn | $30,012.4 bn | $31,419.7 bn | 12 |
| 2021 | $28,453.4 bn | $27,784.6 bn | $29,617.2 bn | 12 |
| 2020 | $25,837.3 bn | $23,223.8 bn | $27,747.8 bn | 12 |
| 2019 | $22,391.0 bn | $21,982.4 bn | $23,201.4 bn | 12 |
| 2018 | $21,305.2 bn | $20,493.7 bn | $21,974.1 bn | 12 |
| 2017 | $20,061.7 bn | $19,844.5 bn | $20,590.4 bn | 12 |
| 2016 | $19,456.6 bn | $19,012.8 bn | $19,976.8 bn | 12 |
| 2015 | $18,266.9 bn | $18,082.3 bn | $18,922.2 bn | 12 |
| 2014 | $17,696.7 bn | $17,293.0 bn | $18,141.4 bn | 12 |
| 2013 | $16,844.9 bn | $16,433.8 bn | $17,352.0 bn | 12 |
| 2012 | $15,902.1 bn | $15,356.1 bn | $16,432.7 bn | 12 |
| 2011 | $14,559.6 bn | $14,131.1 bn | $15,222.9 bn | 12 |
| 2010 | $13,203.4 bn | $12,278.6 bn | $14,025.2 bn | 12 |
| 2009 | $11,537.6 bn | $10,632.0 bn | $12,311.3 bn | 12 |
| 2008 | $9,790.2 bn | $9,238.0 bn | $10,699.8 bn | 12 |
| 2007 | $8,939.6 bn | $8,707.6 bn | $9,229.2 bn | 12 |
| 2006 | $8,444.5 bn | $8,196.1 bn | $8,680.2 bn | 12 |
Compared with debt held by the public
Total public debt outstanding was 123.89% of debt held by the public in . A year earlier, in , the figure was 124.31%. Five-year range: 123.89% () to 128.28% ().
How is it measured?
Total public debt outstanding on the last reported day of the month.
US Treasury publishes total public debt outstanding monthly in Debt to the Penny, in USD and is not seasonally adjusted. Code: tot_pub_debt_out_amt. Monthly basis: each month shows the value at the end of the month, not an average. Method for total public debt outstanding.
Questions
How high is total public debt outstanding in the United States now?
$40,171.8 bn in (US Treasury), up 6.7% on a year earlier.
Is total public debt outstanding high by historical standards?
Total public debt outstanding beats 100% of readings since ; its peak was $40,175.6 bn (), its low $8,196.1 bn ().
When is total public debt outstanding updated?
Monthly, in Debt to the Penny. Next reading: October 2026.
Where can I check total public debt outstanding at the source?
US Treasury data, code tot_pub_debt_out_amt.