As of July 03, 2025, total gross national debt is $36.22 trillion.
Relative to one year ago, total gross national debt is $1.37 trillion higher; relative to five years ago, it is $9.76 trillion higher.
Over the past year, the rate of increase averaged $3.75 billion per day, $156.20 million per hour, $2.60 million per minute, or $43,388.52 per second.
The increase in gross national debt over the past year amounts to $4,021.90 per person or $10,348.98 per household.
Total gross national debt amounts to $106,451 per person or $273,914 per household.
Assuming the average daily rate of growth over the past three years continues, the U.S. will reach $37 trillion by approximately December 02, 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 June 2025, the average interest rate on the total marketable national debt is 3.375 percent. One year ago, it was 3.344 percent; five years ago, it was 1.753 percent.
The total amount of interest paid to trust funds over the past 12 months was $235.07 billion, an average of $19.59 billion per month.
A bid-to-cover ratio of 2 or higher reflects strong Treasury demand. As of June 2025, the bid-to-cover ratio for Treasury bills (4-week) is 3.26, for notes (10-year) is 2.60, and for bonds (30-year) is 2.31.
As of June 2025, of the $28.95 trillion of total public debt outstanding, $15.07 trillion (52.04 percent) is in notes, $5.78 trillion (19.98 percent) is in bills, and $5.03 trillion (17.38 percent) is in bonds. $3.07 trillion (10.60 percent) is in other securities.
As of the most recent data from Q2 of FY2025, approximately 32 percent of U.S. publicly held marketable debt will be maturing within 12 months.
As of the most recent data from March 2025, the average maturity is 71 months. In March 2024, it was 70 months; in March 2020, it was 69 months.
| Date | Time | Release | Data source |
|---|---|---|---|
| Jul 14 | 10:00 AM | Monthly Fiscal Update, June 2025 | U.S. Treasury |
| Jul 15 | 08:30 AM | Monthly Inflation Update, June 2025 | Bureau of Labor Statistics |
| Jul 18 | 10:00 AM | State Employment Update, June 2025 | Bureau of Labor Statistics |
| Jul 30 | 08:30 AM | Monthly GDP Update, Q2 2025 Advance Estimate | Bureau of Economic Analysis |
| Jul 31 | 08:30 AM | Monthly Expenditures Update, June 2025 | Bureau of Economic Analysis |
| Aug 01 | 08:30 AM | Monthly Employment Update, July 2025 | Bureau of Labor Statistics |
| Aug 05 | 08:30 AM | Monthly Trade Update, June 2025 | Bureau of Economic Analysis |
| Aug 07 | 10:00 AM | Monthly Debt Update, August 2025 | U.S. Treasury |
Source: U.S. Treasury; JEC Republicans calculations