US National Debt 1-11-26

As of early January 2026, the total U.S. national debt is approximately $38.4 to $38.5 trillion. Projections indicate the debt will surpass its historical peak relative to GDP in the coming years and continue to climb, reaching nearly $48 trillion by 2030.  

Projected U.S. National Debt (2026 and Beyond)

The national debt is forecast to grow significantly due to ongoing deficits, rising interest costs, and mandatory spending on programs like Social Security and Medicare. 

Year    Projected National Debt in $Trillions

2026   $39.2T

2027   $41.2T

2028   $43.2T

2029   $45.4T

2030   $47.6T

Projections are based on current law baselines from sources like Statista and the Congressional Budget Office (CBO) and are subject to change based on new legislation or economic conditions. 

Key Factors in Debt Growth

Persistent Deficits: The annual federal deficit (the difference between spending and revenue) is projected to remain high, climbing from an estimated $1.7 trillion in 2026 to $2.5 trillion by 2035.

Rising Interest Costs: Interest payments on the debt are one of the fastest-growing parts of the federal budget, with annual costs now exceeding $1 trillion and projected to nearly double to $1.8 trillion by 2035.

Mandatory Spending: Growth in spending for Social Security and Medicare is a major driver of increasing outlays.

Debt-to-GDP Ratio: Federal debt held by the public as a share of the economy (GDP) is projected to surpass its all-time high (reached during World War II) before the end of the current decade, reaching an estimated 118% of GDP by 2035. 

For daily updates on the U.S. national debt, you can visit the official U.S. Treasury Fiscal Data website. 

The U.S. national debt is projected to exceed its historical record as a share of GDP by 2029 and is expected to reach $39.23 trillion in 2026, continuing to rise in the following years. 

Projected U.S. National Debt (Billions USD)

Financial Overview and Projections

Current Debt in 2026: As of early January 2026, the total national debt is approximately $38.44 trillion.

Future Projections: According to the Congressional Budget Office (CBO) projections, the debt held by the public will increase to an estimated $52 trillion by the end of fiscal year 2035.

Debt as a Share of the Economy: The debt-to-GDP ratio is projected to surpass its all-time high (reached just after World War II) by 2029, and potentially reach 118% of GDP by 2035 under current law. 

Key Insights

The rising national debt is driven by persistent annual budget deficits, a structural imbalance between spending and revenue, an aging population increasing costs for programs like Social Security and Medicare, and rapidly escalating interest payments. 

Deficits: The annual budget deficit is projected to be around $1.7 trillion in 2026 and rise to over $2.5 trillion by 2035.

Interest Costs: Interest payments on the debt are rising rapidly and are projected to exceed spending on national defense and Medicare. Net interest costs will reach a record 3.2% of GDP in 2025 and rise to 4.1% of GDP by 2035.

Economic Impact: High and rising debt is expected to have significant negative consequences for the economy, including reducing private investment, putting upward pressure on interest rates, and potentially slowing wage growth. 

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Norb Leahy, Dunwoody GA Tea Party Leader