As of May 05, 2025, total gross national debt is $36.21 trillion.
Relative to one year ago, total gross national debt is $1.66 trillion higher; relative to five years ago, it is $11.15 trillion higher.
Over the past year, the rate of increase averaged $4.54 billion per day, $188.98 million per hour, $3.15 million per minute, or $52,493.44 per second.
The increase in gross national debt over the past year amounts to $4,892.55 per person or $12,589.28 per household.
Total gross national debt amounts to $106,442 per person or $273,891 per household.
Assuming the average daily rate of growth over the past three years continues, the U.S. will reach $37 trillion by approximately September 30, 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 April 2025, the average interest rate on the total marketable national debt is 3.354 percent. One year ago, it was 3.297 percent; five years ago, it was 1.964 percent.
The total amount of interest paid to trust funds over the past 12 months was $241.55 billion, an average of $20.13 billion per month.
A bid-to-cover ratio of 2 or higher reflects strong Treasury demand. As of April 2025, the bid-to-cover ratio for Treasury bills (4-week) is 2.74, for notes (10-year) is 2.60, and for bonds (30-year) is 2.33.
As of April 2025, of the $28.85 trillion of total public debt outstanding, $14.90 trillion (51.65 percent) is in notes, $6.06 trillion (21.00 percent) is in bills, and $4.95 trillion (17.15 percent) is in bonds. $2.94 trillion (10.20 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 |
|---|---|---|---|
| May 13 | 08:30 AM | Monthly Inflation Update, April 2025 | Bureau of Labor Statistics |
| May 13 | 10:00 AM | Monthly Fiscal Update, April 2025 | U.S. Treasury |
| May 21 | 10:00 AM | State Employment Update, April 2025 | Bureau of Labor Statistics |
| May 29 | 08:30 AM | Monthly GDP Update, Q1 2025 Second Estimate | Bureau of Economic Analysis |
| May 30 | 08:30 AM | Monthly Expenditures Update, April 2025 | Bureau of Economic Analysis |
| Jun 05 | 08:30 AM | Monthly Trade Update, April 2025 | Bureau of Economic Analysis |
| Jun 06 | 08:30 AM | Monthly Employment Update, May 2025 | Bureau of Labor Statistics |
| Jun 06 | 10:00 AM | Monthly Debt Update, June 2025 | U.S. Treasury |
Source: U.S. Treasury; JEC Republicans calculations