📊 Total National Debt
Total gross national debt as of June 4, 2025, is US $36.21 trillion, consisting of US $28.95 trillion in public debt and US $7.26 trillion in intragovernmental debt.
Compared to the previous year, total debt increased by about US $1.56 trillion, rising at an average of US $4.27 billion per day.
In the last five years, debt has increased by over US $10.29 trillion.
🔼 Trends and Projections
It is estimated that if the current trend continues, total debt will reach US $37 trillion around October 31, 2025, with an additional trillion in approximately 190 days.
The proportion of debt to GDP has been above 100% since 2012, and the CBO projects it will rise from ~99% in 2024 to 116% in 2034, even reaching 172% by 2054 if policies do not change.
💰 Interest Burden of Debt
National debt currently bears an interest burden of about US $1 trillion per year, making it one of the largest expenditures, even surpassing defense spending.
For fiscal year 2025, CBO predictions indicate that interest on debt will reach 13.55% of total government spending, increasing in the following years (13.85% in 2026 and 14.11% in 2027).
⚠️ Market and Credit Response
Moody’s downgraded the US debt rating to Aa1 on May 16, 2025. Fitch had previously downgraded from AAA to AA+ in August 2023.
Analysts such as Ray Dalio, Ken Rogoff, and Niall Ferguson warn of the risk of an "economic heart attack" if debt is not controlled, especially as interest exceeds defense spending.
🏛️ Government Policy and Its Impact
John Trump's "One Big Beautiful Bill Act" policy plan aims to raise the debt ceiling by US $4–5 trillion while extending tax cuts, predicted to add US $3.8–5.7 trillion in the next decade.
Concerns have been raised by officials such as Taiwanese banker Ken Langone (founder of Home Depot) and CBO economists, who warn that this growing debt undermines investor confidence and the stability of the Treasury debt market.
Conclusion:
The US national debt continues to grow rapidly, with an increasing burden of interest and a declining credit rating. Future projections indicate that this trend could disrupt economic stability unless there are fiscal balancing policies. Investors and analysts are becoming increasingly wary of the direction of debt and its implications for the market.
