As of September 04, 2025, total gross national debt is $37.43 trillion.
Relative to one year ago, total gross national debt is $2.09 trillion higher; relative to five years ago, it is $10.73 trillion higher.
Over the past year, the rate of increase averaged $5.72 billion per day, $238.16 million per hour, $3.97 million per minute, or $66,156.25 per second.
The increase in gross national debt over the past year amounts to $6,132.36 per person or $15,779.51 per household.
Total gross national debt amounts to $110,020 per person or $283,098 per household.
Assuming the average daily rate of growth over the past three years continues, the U.S. will reach $38 trillion by approximately December 09, 2025.
U.S. public debt in the form of Treasury securities is primarily made up of bills (4-52 weeks), notes (2-10 years), and bonds (20-30 years). Others include Treasury Inflation Protected Securities, Cash Management Bills, and Floating Rate Notes.
Net interest as a share of outlays is forecast by the Congressional Budget Office to be 13.55 percent in FY2025, 13.85 percent in FY2026, and 14.11 percent in FY2027.
As of August 2025, the average interest rate on the total marketable national debt is 3.415 percent. One year ago, it was 3.415 percent; five years ago, it was 1.661 percent.
The total amount of interest paid to trust funds over the past 12 months was $241.26 billion, an average of $20.10 billion per month.
A bid-to-cover ratio of 2 or higher reflects strong Treasury demand. As of August 2025, the bid-to-cover ratio for Treasury bills (4-week) is 2.78, for notes (10-year) is 2.35, and for bonds (30-year) is 2.27.
As of August 2025, of the $29.97 trillion of total public debt outstanding, $15.21 trillion (50.74 percent) is in notes, $6.37 trillion (21.25 percent) is in bills, and $5.09 trillion (16.97 percent) is in bonds. $3.31 trillion (11.04 percent) is in other securities.
As of the most recent data from Q3 of FY2025, approximately 31 percent of U.S. publicly held marketable debt will be maturing within 12 months.
As of the most recent data from June 2025, the average maturity is 72 months. In June 2024, it was 71 months; in June 2020, it was 62 months.
| Date | Time | Release | Data source |
|---|---|---|---|
| Sep 11 | 08:30 AM | Monthly Inflation Update, August 2025 | Bureau of Labor Statistics |
| Sep 12 | 10:00 AM | Monthly Fiscal Update, August 2025 | U.S. Treasury |
| Sep 19 | 10:00 AM | State Employment Update, August 2025 | Bureau of Labor Statistics |
| Sep 25 | 08:30 AM | Monthly GDP Update, Q2 2025 Third Estimate | Bureau of Economic Analysis |
| Sep 26 | 08:30 AM | Monthly Expenditures Update, August 2025 | Bureau of Economic Analysis |
| Oct 03 | 08:30 AM | Monthly Employment Update, September 2025 | Bureau of Labor Statistics |
| Oct 07 | 10:00 AM | Monthly Debt Update, October 2025 | U.S. Treasury |
| Oct 07 | 08:30 AM | Monthly Trade Update, August 2025 | Bureau of Economic Analysis |
Source: U.S. Treasury; JEC Republicans calculations