January 2026 | Released January 08, 2026

+$2.25T
Change in gross national debt
Jan 07, 2025 to Jan 07, 2026

$285,127
Gross national debt per household
Jan 07, 2026

3.362 percent
Avg. int. rate on total marketable debt
Dec 2025

Growth of the national debt

• As of January 07, 2026, total gross national debt is $38.43 trillion.

  • Debt held by the public is $30.81 trillion.
  • Intragovernmental debt is $7.62 trillion.

• Relative to one year ago, total gross national debt is $2.25 trillion higher; relative to five years ago, it is $10.73 trillion higher.

• Over the past year, the rate of increase averaged $6.17 billion per day, $257.26 million per hour, $4.29 million per minute, or $71,461.55 per second.

• The increase in gross national debt over the past year amounts to $6,624.14 per person or $16,719.43 per household.

• Total gross national debt amounts to $112,966 per person or $285,127 per household.

• Assuming the average daily rate of growth over the past three years continues, the U.S. will reach $39 trillion by approximately April 05, 2026.

  • At that rate, an increase of another trillion dollars would be reached in approximately 155 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 December 2025, the average interest rate on the total marketable national debt is 3.362 percent. One year ago, it was 3.336 percent; five years ago, it was 1.552 percent.

• The total amount of interest paid to trust funds over the past 12 months was $261.43 billion, an average of $21.79 billion per month.

Composition of U.S. debt

• A bid-to-cover ratio of 2 or higher reflects strong Treasury demand. As of December 2025, the bid-to-cover ratio for Treasury bills (4-week) is 3.18, for notes (10-year) is 2.43, and for bonds (30-year) is 2.29.

• As of December 2025, of the $30.85 trillion of total public debt outstanding, $15.63 trillion (50.68 percent) is in notes, $6.55 trillion (21.22 percent) is in bills, and $5.24 trillion (16.98 percent) is in bonds. $3.43 trillion (11.12 percent) is in other securities.

• As of the most recent data from Q4 of FY2025, approximately 33 percent of U.S. publicly held marketable debt will be maturing within 12 months.

• As of the most recent data from September 2025, the average maturity is 71 months. In September 2024, it was 71 months; in September 2020, it was 63 months.

Upcoming releases

Date	Time	Release	Data source
Jan 09	08:30 AM	Monthly Employment Update, December 2025	Bureau of Labor Statistics
Jan 13	08:30 AM	Monthly Inflation Update, December 2025	Bureau of Labor Statistics
Jan 14	10:00 AM	Monthly Fiscal Update, December 2025	U.S. Treasury
Jan 27	10:00 AM	State Employment Update, December 2025	Bureau of Labor Statistics
Jan 29	08:30 AM	Monthly Expenditures Update, December 2025	Bureau of Economic Analysis
Feb 05	08:30 AM	Monthly Trade Update, December 2025	Bureau of Economic Analysis
Feb 06	08:30 AM	Monthly Employment Update, January 2026	Bureau of Labor Statistics
Feb 06	10:00 AM	Monthly Debt Update, January 2026	U.S. Treasury

Notes

Source: U.S. Treasury; JEC Republicans calculations