WASHINGTON, DC –Today, the Joint Economic Committee released its monthly debt update for October, including the national debt’s interest rate and composition as of September 2025.

As of October 03, 2025, total gross national debt is $37.85 trillion, which is $2.17 trillion higher than one year ago and $10.83 trillion higher than five years ago. Also, over the past year, the rate of increase averaged $5.96 billion per day, $248.27 million per hour, $4.14 million per minute, or $68,964.33 per second.

The average interest rate on U.S. public debt has stabilized but remains significantly elevated, meaning the federal government is paying far more in interest on a much larger stock of debt. As of September 2025, the average interest rate on the total marketable national debt is 3.406 percent, virtually unchanged from last year (+1.4 basis points from 3.392 percent) but more than double the rate of 1.635 percent from five years ago (+177.1 basis points). Net interest as a share of outlays is forecast by the Congressional Budget Office to be 13.85 percent in FY2026, 14.11 percent in FY2027, and 14.52 percent in FY2028.

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For more information on our current debt situation, please see Chairman Schweikert’s Daily Debt Monitor and the Monthly Debt Update.