October 2025

Released October 07, 2025

+$2.17T
Change in gross national debt
Oct 03, 2024 to Oct 03, 2025

$286,294
Gross national debt per household
Oct 03, 2025

3.406 percent
Avg. int. rate on total marketable debt
Sep 2025

Growth of the national debt

• As of October 03, 2025, total gross national debt is $37.85 trillion.

  • Debt held by the public is $30.28 trillion.
  • Intragovernmental debt is $7.57 trillion.

• Relative to one year ago, total gross national debt is $2.17 trillion higher; relative to five years ago, it is $10.83 trillion higher.

• 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 increase in gross national debt over the past year amounts to $6,392.66 per person or $16,449.29 per household.

• Total gross national debt amounts to $111,262 per person or $286,294 per household.

• Assuming the average daily rate of growth over the past three years continues, the U.S. will reach $38 trillion by approximately October 26, 2025.

  • At that rate, an increase of another trillion dollars would be reached in approximately 158 days.

Interest rate on U.S. debt

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 13.85 percent in FY2026, 14.11 percent in FY2027, and 14.52 percent in FY2028.

• As of September 2025, the average interest rate on the total marketable national debt is 3.406 percent. One year ago, it was 3.392 percent; five years ago, it was 1.635 percent.

• The total amount of interest paid to trust funds over the past 12 months was $241.94 billion, an average of $20.16 billion per month.

Composition of U.S. debt

• A bid-to-cover ratio of 2 or higher reflects strong Treasury demand. As of September 2025, the bid-to-cover ratio for Treasury bills (4-week) is 2.67, for notes (10-year) is 2.35, and for bonds (30-year) is 2.27.

• As of September 2025, of the $30.28 trillion of total public debt outstanding, $15.39 trillion (50.82 percent) is in notes, $6.40 trillion (21.13 percent) is in bills, and $5.13 trillion (16.95 percent) is in bonds. $3.36 trillion (11.10 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.

Upcoming releases

Date	Time	Release	Data source
Oct 10	10:00 AM	Monthly Fiscal Update, September 2025	U.S. Treasury
Oct 15	08:30 AM	Monthly Inflation Update, September 2025	Bureau of Labor Statistics
Oct 21	10:00 AM	State Employment Update, September 2025	Bureau of Labor Statistics
Oct 30	08:30 AM	Monthly GDP Update, Q3 2025 Advance Estimate	Bureau of Economic Analysis
Oct 31	08:30 AM	Monthly Expenditures Update, September 2025	Bureau of Economic Analysis
Nov 04	08:30 AM	Monthly Trade Update, September 2025	Bureau of Economic Analysis
Nov 07	08:30 AM	Monthly Employment Update, October 2025	Bureau of Labor Statistics
Nov 07	10:00 AM	Monthly Debt Update, November 2025	U.S. Treasury

Notes

Source: U.S. Treasury; JEC Republicans calculations