The National Debt Is Now More than $28 Trillion. What Does That Mean?

Mar 2, 2021

On March 1, the gross federal debt of the United States surpassed $28,000,000,000,000. 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 $28 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 coronavirus crisis has accelerated an already unsustainable fiscal trajectory, both because of its devastating effect on the economy and the necessary legislative response. When the health crisis is under control, it will be important to understand where our nation stands in its fiscal outlook and work together to implement sustainable solutions that promote economic stability in the years to come.

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The National Debt Is Now More than $28 Trillion. What Does That Mean?

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Tweet: America’s $28 trillion in #NationalDebt is greater than the size of the economies of China + Japan + Germany + India combined. via @pgpfoundation

Tweet: Now at $28 trillion, our growing #NationalDebt is an issue for families across the U.S. via @pgpfoundation

Tweet: At $28 trillion and rising, the #NationalDebt threatens our economic future. via @pgpfoundation

Tweet: With $28 trillion in #NationalDebt, building a sustainable economic future becomes more challenging. via @pgpfoundation

Tweet: The interest that we pay on the #NationalDebt is now the fastest growing part of the budget. via @pgpfoundation

What Does the Debt Mean for Our Future?

We all have a responsibility to build a brighter fiscal and economic future for the next generation.

National Debt Clock

See the latest numbers and learn more about the causes of our high and rising debt.