The National Debt Is Now More than $23 Trillion. What Does That Mean?

On October 31, the gross federal debt of the United States surpassed $23,000,000,000,000. Although the debt affects each of us, it may be difficult to put such a large number into perspective and fully understand its implications. The infographic below offers different ways of looking at the debt and its relationship to the economy, the budget and American families.

The $23 trillion gross federal debt includes debt held by the public as well as debt held by federal trust funds and other government accounts. In very basic terms, this can be thought of as debt that the government owes to others plus debt that it owes to itself. America’s high and rising debt matters because it threatens our economic future. The interest that we pay on the federal debt is now the fastest growing part of the budget, and will total nearly $6 trillion over the next decade. In fact, we spend $1 billion every day, just on interest.

As we pass this unfortunate debt milestone, it’s important to understand our nation’s fiscal outlook and work together to implement sustainable fiscal solutions that promote stability in the years to come. Read on to learn more.


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The national debt has surpassed $23 trillion

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Tweet: America’s $23 trillion in #NationalDebt is roughly the size of the economies of China + Japan + Germany combined. https://ctt.ec/Q31dE+ via @pgpfoundation


Tweet: Now at $23 trillion, our growing #NationalDebt is an issue for families across the U.S. https://ctt.ec/99Kcd+ via @pgpfoundation


Tweet: At $23 trillion and rising, the #NationalDebt threatens our economic future. https://ctt.ec/X271K+ via @pgpfoundation


Tweet: With $23 trillion in #NationalDebt, building a sustainable economic future becomes more challenging. https://ctt.ec/Egm73+ via @pgpfoundation



Tweet: The interest that we pay on the #NationalDebt is now the fastest growing part of the budget, and will total nearly $6 trillion over the next decade. https://ctt.ec/fEBcd+ via @pgpfoundation


Nov 1, 2019

National Debt Clock

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