US has the largest external debt in the world. The total amount of U.S. Treasury securities held by foreign entities in December 2021 was $7.7 trillion, up from $7.1 trillion in December 2020.
Total US federal government debt breached the $30 trillion mark for the first time in history in February 2022.
In December 2023, total federal debt was $33.1 trillion; $26.5 trillion held by the public and $12.1 trillion in intragovernmental debt
The annualized cost of servicing this debt was $726 billion in July 2023, which accounted for 14% of the total federal spending.
Additionally, in recent decades, aging demographics and rising healthcare costs have led to concern about the long-term sustainability of the federal government's fiscal policies.
In February 2024, the total federal government debt rose to $34.4 trillion, after increasing by approximately $1 trillion during each of two separate 100-day periods since the previous June.
In 2024, federal interest payments on the national debt surpassed spending on both Medicare and national defense.
As of August 13, 2025, the federal government debt is $37.00 trillion