GFDEBTNTotal Public Debt (GFDEBTN) — Current Value & Historical Data
Total Public Debt (GFDEBTN) Chart & Data Table
Gray bands: NBER recessions·Dashed lines: key policy events
What is Total Public Debt (GFDEBTN)?
Federal Debt: Total Public Debt measures the total outstanding gross federal debt of the United States, published quarterly by the U.S. Treasury and recorded in FRED from 1966. The series includes both debt held by the public — Treasury securities owned by investors, foreign central banks, and the Federal Reserve — and intragovernmental holdings, primarily Treasury securities held by federal trust funds for Social Security, Medicare, military retirement, and civilian retirement. Gross federal debt crossed $10 trillion in October 2008 during the financial crisis, $20 trillion in September 2017, and $33 trillion in September 2023, a trajectory driven by persistent annual deficits plus the compounding cost of interest. The debt-to-GDP ratio using this measure exceeded 120% in 2024, the highest level since just after World War II.
Current Total Public Debt (GFDEBTN) Value
As of January 1, 2026, the current federal debt: total public debt is 39065421.00 Millions of Dollars. This is the most recent observation available for this series, updated quarterly, end of period.
Total Public Debt Historical Trend
Federal Debt: Total Public Debt rose 1.43% year-over-year. In the series' tracked history, the highest recorded value was 39065421.00 (January 2026), and the lowest was 316097.00 (April 1966).
Why Total Public Debt matters for government spending
This series is the federal debt itself — the cumulative result of decades of deficits. Every annual shortfall between what the government spends and collects is financed by issuing more of the Treasury debt counted here, and the larger the stock grows, the more the government must spend servicing it. Debt held by the public is the portion that competes with private borrowing and drives interest outlays; intragovernmental holdings are owed to the Social Security and Medicare trust funds. The trajectory of this number is the single clearest measure of federal fiscal sustainability.
Methodology & Source
Source
U.S. Department of the Treasury
Frequency
Quarterly, End of Period
Units
Millions of Dollars
Frequently Asked Questions About Total Public Debt (GFDEBTN)
What is the current federal debt: total public debt?
As of January 1, 2026, federal debt: total public debt stands at 39065421.00 Millions of Dollars.
Where does federal debt: total public debt data come from?
Federal Debt: Total Public Debt data is sourced from the Federal Reserve Economic Data (FRED) system and related U.S. government agencies. Data quality and historical coverage vary by series.
How often is federal debt: total public debt updated?
This series is updated according to its publication schedule. Check FRED or the source agency for the most current release calendar.
What is the historical high and low for federal debt: total public debt?
In the available data, the highest value was 39065421.00 Millions of Dollars in January 2026, and the lowest was 316097.00 Millions of Dollars in April 1966.
See Total Public Debt in context
GFDEBTN is tracked on the Federal Debt dashboard, alongside related indicators and historical context.
View the Federal Debt dashboard →Related government-spending dashboards
How Total Public Debt connects to the federal budget across GOVSPENDING.ORG:
Receipts vs Outlays
Federal revenue, spending, and the resulting surplus or deficit over time.
Congressional Activity
Recent legislation, appropriations, and fiscal-related bills in Congress.
Interest Expense vs Revenue
How rising debt service costs crowd out federal spending as a share of receipts over time.
Revenue Composition
Federal receipts broken down by source — individual income, corporate, social insurance, excise taxes, and customs duties as shares of total revenue.
Agency Spending (FY 2019 vs FY 2024)
Net outlays by federal agency for FY 2019 and FY 2024, from the Treasury Monthly Treasury Statement. Both nominal and inflation-adjusted comparisons.
Related Indicators
Compare Total Public Debt with related indicators
See how Total Public Debt stacks up against related series in a side-by-side chart and explainer:
Debt Held by the Public vs Total Federal Debt
Federal debt has two components: Treasuries owned by the public, and Treasuries held by federal trust funds. The gap between the gross total and the public-held portion is intragovernmental holdings.
Federal Debt vs GDP
Federal debt grows faster than GDP during recessions and large fiscal expansions. Comparing the two shows whether the debt burden is rising or falling relative to the economy.