GFDEGDQ188SDebt-to-GDP Ratio (GFDEGDQ188S) — Current Value & Historical Data
Debt-to-GDP Ratio (GFDEGDQ188S) Chart & Data Table
Gray bands: NBER recessions·Dashed lines: key policy events
What is Debt-to-GDP Ratio (GFDEGDQ188S)?
Federal Debt: Total Public Debt as Percent of Gross Domestic Product expresses U.S. gross federal debt as a share of quarterly nominal GDP, published by the Federal Reserve Bank of St. Louis using Treasury and Bureau of Economic Analysis source data. The ratio is the standard measure of a government's debt burden relative to the size of its economy, used for cross-country comparisons and long-run fiscal sustainability analysis. U.S. debt-to-GDP peaked at 106% in 1946 after World War II financing, fell below 25% by the early 1970s, climbed through the 1980s deficits, and exceeded 100% again in 2020 during the COVID-19 response. Economists disagree on what level is unsustainable — the answer depends on interest rates, growth, and a country's capacity to tax — but most analysts focus on the trajectory rather than a specific threshold.
Current Debt-to-GDP Ratio (GFDEGDQ188S) Value
As of January 1, 2026, the current federal debt: total public debt as percent of gross domestic product is 122.59 Percent of GDP. This is the most recent observation available for this series, updated quarterly.
Debt-to-GDP Ratio Historical Trend
Federal Debt: Total Public Debt as Percent of Gross Domestic Product rose 0.02% quarter-over-quarter. Over the past year, federal debt: total public debt as percent of gross domestic product rose 1.70% from January 2025. In the series' tracked history, the highest recorded value was 132.66 (April 2020), and the lowest was 30.60 (July 1981).
Methodology & Source
Source
U.S. Department of the Treasury
Frequency
Quarterly
Units
Percent of GDP
Notes
Federal Debt: Total Public Debt as Percent of Gross Domestic Product (GFDEGDQ188S) (https://fred.stlouisfed.org/series/GFDEGDQ188S) was first constructed by the Federal Reserve Bank of St. Louis in October 2012. It is calculated using Federal Government Debt: Total Public Debt (GFDEBTN) (https://fre...
Frequently Asked Questions About Debt-to-GDP Ratio (GFDEGDQ188S)
What is the current federal debt: total public debt as percent of gross domestic product?
As of January 1, 2026, federal debt: total public debt as percent of gross domestic product stands at 122.59 Percent of GDP.
Where does federal debt: total public debt as percent of gross domestic product data come from?
Federal Debt: Total Public Debt as Percent of Gross Domestic Product 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 as percent of gross domestic product 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 as percent of gross domestic product?
In the available data, the highest value was 132.66 Percent of GDP in April 2020, and the lowest was 30.60 Percent of GDP in July 1981.
How has federal debt: total public debt as percent of gross domestic product changed over the past year?
Over the past year, federal debt: total public debt as percent of gross domestic product increased 1.70%.
See Debt-to-GDP Ratio in context
GFDEGDQ188S is tracked on the Federal Debt dashboard, alongside related indicators and historical context.
View the Federal Debt dashboard →Related government-spending dashboards
How Debt-to-GDP Ratio 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.