History
US national debt by year
The total public debt outstanding at the end of every fiscal year since 1790, from the Treasury’s own historical series. It stood at $40.17 trillion at the end of fiscal 2026. The table below is the whole record; the charts and the notes underneath say which years actually mattered.
The debt, year by year
Total public debt at the end of each fiscal year. On a linear scale the first two centuries are a flat line against the last forty years, which is itself the point.
Total public debt since 1790
Source: US Treasury, Historical Debt Outstanding, total public debt at fiscal year end. Figures before 1843 are the Treasury’s own earliest records and are rounded in the source.
How the debt reached $40.17 trillion
The United States started in debt. In 1790 the new federal government took over the war debts of the individual states, a total of about $71.06 million, and the figure has existed ever since.
It has reached zero exactly once. In 1835, under Andrew Jackson, the last of it was paid off. Within two years the country was in the Panic of 1837, one of the worst depressions in its history, which is a useful caution against treating zero as the obvious target.
Two wars dominate the century that follows. The Civil War took the debt from about $64.84 million in 1860 to about $2.68 billion in 1865. The First World War did the same on a larger scale, from $3.61 billion to $27.39 billion.
Then the Second World War, the great escalation: $42.97 billion in 1940 became $258.68 billion by 1945. Measured against the size of the economy, the ratio peaked around then and has only recently been passed; the GDP series behind the table begins in 1960, so that peak is not in it.
The part usually left out is what came next. Over the following three decades the ratio fell to about 30.7% by 1974, not because anyone repaid the debt but because the economy grew faster than it. The debt itself rose in almost every one of those years.
The modern climb starts in the 1980s. The debt first passed $1 trillion in 1982, and by 1990 it stood at $3.23 trillion. The 2008 financial crisis took it from $9.01 trillion to $16.07 trillion, and the pandemic took it from $22.72 trillion to $26.95 trillion.
It passed $40 trillion in 2026, and at the end of fiscal 2026 it was $40.17 trillion. Measured against the size of the economy it is now around 122.3% (2025), above the level reached after the Second World War.
For the ratio in context, see debt to GDP. For what the debt costs to carry, see interest on the debt. For why the raw total is a poor measure on its own, see will it ever be paid off.
Every fiscal year since 1790
Total public debt outstanding at the end of each fiscal year, with the change from the year before and the debt as a share of GDP where the two series overlap. The share pairs fiscal-year-end debt with calendar-year GDP, the standard historical comparison, so it reads a little below the live ratio. It is blank before 1960 because no comparable GDP series goes further back.
| Fiscal year | Total public debt | Change | Share of GDP |
|---|---|---|---|
| 2026 | $40.17 trillion | +$2.53 trillion | — |
| 2025 | $37.64 trillion | +$2.17 trillion | 122.3% |
| 2024 | $35.46 trillion | +$2.30 trillion | 121.0% |
| 2023 | $33.17 trillion | +$2.24 trillion | 119.3% |
| 2022 | $30.93 trillion | +$2.50 trillion | 118.7% |
| 2021 | $28.43 trillion | +$1.48 trillion | 119.8% |
| 2020 | $26.95 trillion | +$4.23 trillion | 126.1% |
| 2019 | $22.72 trillion | +$1.20 trillion | 105.5% |
| 2018 | $21.52 trillion | +$1.27 trillion | 104.2% |
| 2017 | $20.24 trillion | +$671.46 billion | 103.2% |
| 2016 | $19.57 trillion | +$1.42 trillion | 104.1% |
| 2015 | $18.15 trillion | +$326.55 billion | 99.2% |
| 2014 | $17.82 trillion | +$1.09 trillion | 101.2% |
| 2013 | $16.74 trillion | +$671.94 billion | 99.2% |
| 2012 | $16.07 trillion | +$1.28 trillion | 98.8% |
| 2011 | $14.79 trillion | +$1.23 trillion | 94.8% |
| 2010 | $13.56 trillion | +$1.65 trillion | 90.1% |
| 2009 | $11.91 trillion | +$1.89 trillion | 82.3% |
| 2008 | $10.02 trillion | +$1.02 trillion | 67.9% |
| 2007 | $9.01 trillion | +$500.68 billion | 62.2% |
| 2006 | $8.51 trillion | +$574.26 billion | 61.6% |
| 2005 | $7.93 trillion | +$553.66 billion | 60.8% |
| 2004 | $7.38 trillion | +$595.82 billion | 60.4% |
| 2003 | $6.78 trillion | +$555.00 billion | 59.2% |
| 2002 | $6.23 trillion | +$420.77 billion | 57.0% |
| 2001 | $5.81 trillion | +$133.29 billion | 54.9% |
| 2000 | $5.67 trillion | +$17.91 billion | 55.4% |
| 1999 | $5.66 trillion | +$130.08 billion | 58.7% |
| 1998 | $5.53 trillion | +$113.05 billion | 61.0% |
| 1997 | $5.41 trillion | +$188.34 billion | 63.1% |
| 1996 | $5.22 trillion | +$250.83 billion | 64.7% |
| 1995 | $4.97 trillion | +$281.23 billion | 65.1% |
| 1994 | $4.69 trillion | +$281.26 billion | 64.4% |
| 1993 | $4.41 trillion | +$346.87 billion | 64.3% |
| 1992 | $4.06 trillion | +$399.32 billion | 62.3% |
| 1991 | $3.67 trillion | +$431.99 billion | 59.5% |
| 1990 | $3.23 trillion | +$375.88 billion | 54.2% |
| 1989 | $2.86 trillion | +$255.09 billion | 50.6% |
| 1988 | $2.60 trillion | +$252.06 billion | 49.7% |
| 1987 | $2.35 trillion | +$224.97 billion | 48.4% |
| 1986 | $2.13 trillion | +$302.20 billion | 46.4% |
| 1985 | $1.82 trillion | +$250.84 billion | 42.0% |
| 1984 | $1.57 trillion | +$195.06 billion | 38.9% |
| 1983 | $1.38 trillion | +$235.18 billion | 37.9% |
| 1982 | $1.14 trillion | +$144.18 billion | 34.2% |
| 1981 | $997.86 billion | +$90.15 billion | 31.1% |
| 1980 | $907.70 billion | +$81.18 billion | 31.8% |
| 1979 | $826.52 billion | +$54.98 billion | 31.5% |
| 1978 | $771.54 billion | +$72.70 billion | 32.8% |
| 1977 | $698.84 billion | +$78.41 billion | 33.6% |
| 1976 | $620.43 billion | +$87.24 billion | 33.1% |
| 1975 | $533.19 billion | +$58.13 billion | 31.6% |
| 1974 | $475.06 billion | +$16.92 billion | 30.7% |
| 1973 | $458.14 billion | +$30.88 billion | 32.1% |
| 1972 | $427.26 billion | +$29.13 billion | 33.4% |
| 1971 | $398.13 billion | +$27.21 billion | 34.2% |
| 1970 | $370.92 billion | +$17.20 billion | 34.6% |
| 1969 | $353.72 billion | +$6.14 billion | 34.8% |
| 1968 | $347.58 billion | +$21.36 billion | 37.0% |
| 1967 | $326.22 billion | +$6.31 billion | 37.9% |
| 1966 | $319.91 billion | +$2.63 billion | 39.3% |
| 1965 | $317.27 billion | +$5.56 billion | 42.8% |
| 1964 | $311.71 billion | +$5.85 billion | 45.6% |
| 1963 | $305.86 billion | +$7.66 billion | 48.0% |
| 1962 | $298.20 billion | +$9.23 billion | 49.4% |
| 1961 | $288.97 billion | +$2.64 billion | 51.4% |
| 1960 | $286.33 billion | +$1.62 billion | 52.8% |
| 1959 | $284.71 billion | +$8.36 billion | — |
| 1958 | $276.34 billion | +$5.82 billion | — |
| 1957 | $270.53 billion | −$2.22 billion | — |
| 1956 | $272.75 billion | −$1.62 billion | — |
| 1955 | $274.37 billion | +$3.11 billion | — |
| 1954 | $271.26 billion | +$5.19 billion | — |
| 1953 | $266.07 billion | +$6.97 billion | — |
| 1952 | $259.11 billion | +$3.88 billion | — |
| 1951 | $255.22 billion | −$2.14 billion | — |
| 1950 | $257.36 billion | +$4.59 billion | — |
| 1949 | $252.77 billion | +$478.11 million | — |
| 1948 | $252.29 billion | −$5.99 billion | — |
| 1947 | $258.29 billion | −$11.14 billion | — |
| 1946 | $269.42 billion | +$10.74 billion | — |
| 1945 | $258.68 billion | +$57.68 billion | — |
| 1944 | $201.00 billion | +$64.31 billion | — |
| 1943 | $136.70 billion | +$64.27 billion | — |
| 1942 | $72.42 billion | +$23.46 billion | — |
| 1941 | $48.96 billion | +$5.99 billion | — |
| 1940 | $42.97 billion | +$2.53 billion | — |
| 1939 | $40.44 billion | +$3.27 billion | — |
| 1938 | $37.16 billion | +$740.13 million | — |
| 1937 | $36.42 billion | +$2.65 billion | — |
| 1936 | $33.78 billion | +$5.08 billion | — |
| 1935 | $28.70 billion | +$1.65 billion | — |
| 1934 | $27.05 billion | +$4.51 billion | — |
| 1933 | $22.54 billion | +$3.05 billion | — |
| 1932 | $19.49 billion | +$2.69 billion | — |
| 1931 | $16.80 billion | +$615.97 million | — |
| 1930 | $16.19 billion | −$745.78 million | — |
| 1929 | $16.93 billion | −$673.20 million | — |
| 1928 | $17.60 billion | −$907.61 million | — |
| 1927 | $18.51 billion | −$1.13 billion | — |
| 1926 | $19.64 billion | −$872.98 million | — |
| 1925 | $20.52 billion | −$734.62 million | — |
| 1924 | $21.25 billion | −$1.10 billion | — |
| 1923 | $22.35 billion | −$613.67 million | — |
| 1922 | $22.96 billion | −$1.01 billion | — |
| 1921 | $23.98 billion | −$1.98 billion | — |
| 1920 | $25.95 billion | −$1.44 billion | — |
| 1919 | $27.39 billion | +$12.80 billion | — |
| 1918 | $14.59 billion | +$8.87 billion | — |
| 1917 | $5.72 billion | +$2.11 billion | — |
| 1916 | $3.61 billion | +$551.11 million | — |
| 1915 | $3.06 billion | +$145.64 million | — |
| 1914 | $2.91 billion | −$3.71 million | — |
| 1913 | $2.92 billion | +$47.83 million | — |
| 1912 | $2.87 billion | +$102.77 million | — |
| 1911 | $2.77 billion | +$112.93 million | — |
| 1910 | $2.65 billion | +$13.12 million | — |
| 1909 | $2.64 billion | +$12.74 million | — |
| 1908 | $2.63 billion | +$169.62 million | — |
| 1907 | $2.46 billion | +$120.03 million | — |
| 1906 | $2.34 billion | +$62.55 million | — |
| 1905 | $2.27 billion | +$10.61 million | — |
| 1904 | $2.26 billion | +$61.54 million | — |
| 1903 | $2.20 billion | +$43.85 million | — |
| 1902 | $2.16 billion | +$15.28 million | — |
| 1901 | $2.14 billion | +$6.37 million | — |
| 1900 | $2.14 billion | +$145.03 million | — |
| 1899 | $1.99 billion | +$195.40 million | — |
| 1898 | $1.80 billion | −$21.14 million | — |
| 1897 | $1.82 billion | +$47.83 million | — |
| 1896 | $1.77 billion | +$93.72 million | — |
| 1895 | $1.68 billion | +$43.87 million | — |
| 1894 | $1.63 billion | +$86.27 million | — |
| 1893 | $1.55 billion | −$42.48 million | — |
| 1892 | $1.59 billion | +$42.47 million | — |
| 1891 | $1.55 billion | −$6.14 million | — |
| 1890 | $1.55 billion | −$66.91 million | — |
| 1889 | $1.62 billion | −$73.81 million | — |
| 1888 | $1.69 billion | +$35.26 million | — |
| 1887 | $1.66 billion | −$117.46 million | — |
| 1886 | $1.78 billion | −$88.90 million | — |
| 1885 | $1.86 billion | +$33.44 million | — |
| 1884 | $1.83 billion | −$53.64 million | — |
| 1883 | $1.88 billion | −$34.14 million | — |
| 1882 | $1.92 billion | −$150.70 million | — |
| 1881 | $2.07 billion | −$51.40 million | — |
| 1880 | $2.12 billion | −$229.15 million | — |
| 1879 | $2.35 billion | +$93.36 million | — |
| 1878 | $2.26 billion | +$50.90 million | — |
| 1877 | $2.21 billion | +$24.91 million | — |
| 1876 | $2.18 billion | −$51.89 million | — |
| 1875 | $2.23 billion | −$19.41 million | — |
| 1874 | $2.25 billion | +$17.21 million | — |
| 1873 | $2.23 billion | −$18.77 million | — |
| 1872 | $2.25 billion | −$99.96 million | — |
| 1871 | $2.35 billion | −$127.46 million | — |
| 1870 | $2.48 billion | −$107.78 million | — |
| 1869 | $2.59 billion | −$23.24 million | — |
| 1868 | $2.61 billion | −$66.44 million | — |
| 1867 | $2.68 billion | −$95.11 million | — |
| 1866 | $2.77 billion | +$92.59 million | — |
| 1865 | $2.68 billion | +$864.86 million | — |
| 1864 | $1.82 billion | +$696.01 million | — |
| 1863 | $1.12 billion | +$595.60 million | — |
| 1862 | $524.18 million | +$433.60 million | — |
| 1861 | $90.58 million | +$25.74 million | — |
| 1860 | $64.84 million | +$6.35 million | — |
| 1859 | $58.50 million | +$13.58 million | — |
| 1858 | $44.91 million | +$16.21 million | — |
| 1857 | $28.70 million | −$3.27 million | — |
| 1856 | $31.97 million | −$3.61 million | — |
| 1855 | $35.59 million | −$6.66 million | — |
| 1854 | $42.24 million | −$17.56 million | — |
| 1853 | $59.80 million | −$6.40 million | — |
| 1852 | $66.20 million | −$2.11 million | — |
| 1851 | $68.30 million | +$4.85 million | — |
| 1850 | $63.45 million | +$390,915 | — |
| 1849 | $63.06 million | +$16.02 million | — |
| 1848 | $47.04 million | +$8.22 million | — |
| 1847 | $38.83 million | +$23.28 million | — |
| 1846 | $15.55 million | −$375,100 | — |
| 1845 | $15.93 million | −$7.54 million | — |
| 1844 | $23.46 million | −$9.28 million | — |
| 1843 | $32.74 million | +$19.15 million | — |
| 1842 | $13.59 million | +$8.34 million | — |
| 1841 | $5.25 million | +$1.68 million | — |
| 1840 | $3.57 million | −$6.86 million | — |
| 1839 | $10.43 million | +$7.13 million | — |
| 1838 | $3.31 million | +$2.97 million | — |
| 1837 | $336,958 | +$299,445 | — |
| 1836 | $37,513 | +$3,780 | — |
| 1835 | $33,733 | −$4.73 million | — |
| 1834 | $4.76 million | −$2.24 million | — |
| 1833 | $7.00 million | −$17.32 million | — |
| 1832 | $24.32 million | −$14.80 million | — |
| 1831 | $39.12 million | −$9.44 million | — |
| 1830 | $48.57 million | −$9.86 million | — |
| 1829 | $58.42 million | −$9.05 million | — |
| 1828 | $67.48 million | −$6.51 million | — |
| 1827 | $73.99 million | −$7.07 million | — |
| 1826 | $81.05 million | −$2.73 million | — |
| 1825 | $83.79 million | −$6.48 million | — |
| 1824 | $90.27 million | −$606,099 | — |
| 1823 | $90.88 million | −$2.67 million | — |
| 1822 | $93.55 million | +$3.56 million | — |
| 1821 | $89.99 million | −$1.03 million | — |
| 1820 | $91.02 million | −$4.51 million | — |
| 1819 | $95.53 million | −$7.94 million | — |
| 1818 | $103.47 million | −$20.03 million | — |
| 1817 | $123.49 million | −$3.84 million | — |
| 1816 | $127.33 million | +$27.50 million | — |
| 1815 | $99.83 million | +$18.35 million | — |
| 1814 | $81.49 million | +$25.53 million | — |
| 1813 | $55.96 million | +$10.75 million | — |
| 1812 | $45.21 million | −$2.80 million | — |
| 1811 | $48.01 million | −$5.17 million | — |
| 1810 | $53.17 million | −$3.85 million | — |
| 1809 | $57.02 million | −$8.17 million | — |
| 1808 | $65.20 million | −$4.02 million | — |
| 1807 | $69.22 million | −$6.50 million | — |
| 1806 | $75.72 million | −$6.59 million | — |
| 1805 | $82.31 million | −$4.11 million | — |
| 1804 | $86.43 million | +$9.37 million | — |
| 1803 | $77.05 million | −$3.66 million | — |
| 1802 | $80.71 million | −$2.33 million | — |
| 1801 | $83.04 million | +$61,757 | — |
| 1800 | $82.98 million | +$4.57 million | — |
| 1799 | $78.41 million | −$819,859 | — |
| 1798 | $79.23 million | −$2.84 million | — |
| 1797 | $82.06 million | −$1.70 million | — |
| 1796 | $83.76 million | +$3.01 million | — |
| 1795 | $80.75 million | +$2.32 million | — |
| 1794 | $78.43 million | −$1.93 million | — |
| 1793 | $80.36 million | +$3.13 million | — |
| 1792 | $77.23 million | +$1.76 million | — |
| 1791 | $75.46 million | +$4.40 million | — |
| 1790 | $71.06 million | — | — |
Common questions
What was the US national debt in 1790?
About $71.06 million. The new federal government took on the war debts of the individual states that year, which is when the national debt properly begins.
When did the United States have no national debt?
Once, in 1835, under Andrew Jackson. It is the only time a major nation has cleared its debt entirely, and a severe depression, the Panic of 1837, followed within two years.
How much has the national debt grown since 2000?
From $5.67 trillion at the end of fiscal 2000 to $40.17 trillion at the end of fiscal 2026. That is roughly 7 times as much in 26 years.
Is the debt growing faster than the economy?
Yes. The debt was about 55.4% of GDP in 2000 and around 122.3% in 2025. When the debt grows faster than the economy, the ratio rises even in good years.