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The U.S. national debt climbed to $34 trillion for the first time in December 2023, up from about $31.42 trillion one year earlier. The debt-to-GDP ratio gives insight into whether the U.S. can cover all its debt.
As of October 2024, the U.S. national debt was over $35.85 trillion. Tax cuts, stimulus programs, and increased government spending on defense can cause the national debt to rise sharply.
The national debt has grown by $30.71 trillion since 1993, and nearly $16.79 trillion in the last decade. [1] The largest national debt increases followed the Great Recession in 2008 and the COVID-19 pandemic in 2020.
US National Debt Clock : Real Time U.S. National Debt Clock
In 2020, national debt has increased $14,850,152,510 per day or $1.031 million per minute. By December 31st 2020, the national debt is currently set to increase a further $2.15 trillion to $28,651,705,410,186. The national debt per citizen equals $80,274 per person (calculated on August 11th 2020)
The national debt of the United States has doubled over the last decade, exceeding 34 trillion U.S. dollars, or 93,500 U.S. dollars per person, in 2024.
US National Debt Clock the year 2020