What does the US Public Debt to GDP table measure?

It measures the total outstanding federal debt of the United States scaled against quarterly Gross Domestic Product to reflect the nation's overall repayment capacity.

How frequently is this table updated and what is the historical coverage?

The data is published on a quarterly basis and historical series extend back to 1966, tracking long-term shifts in United States government finances.

What are the primary ownership categories for total federal public debt?

Total debt is split into debt held by the public, which includes market borrowings, foreign investors, and the Federal Reserve, and debt held by government accounts such as trust funds.

Why is the debt-to-GDP ratio used instead of absolute debt numbers?

Because absolute United States federal debt almost exclusively increases over time, the debt-to-GDP ratio provides a standardized metric to evaluate debt relative to the size of the economy.

US Public Debt to GDP

Name: US Public Debt to GDP
Creator: FRED (Federal Reserve Bank of St. Louis)
License: https://creativecommons.org/licenses/by/4.0/

US public debt to GDP ratio and total federal debt quarterly from FRED.

Source: FRED (Federal Reserve Bank of St. Louis)Last updated: Sep 21, 2026, 14:19Curated by Bui Thanh PhucAbout this data ↓

Indicator	Q1-2026	Q4-2025	Q3-2025	Q2-2025	Q1-2025	Q4-2024	Q3-2024	Q2-2024	Q1-2024	Q4-2023	Q3-2023	Q2-2023	Q1-2023
Public Debt to GDP	122.59	122.57	121.03	118.78	120.55	121.44	120.17	119.5	120.48	119.62	118.14	117.44	115.59
Total Federal Public Debt (Quarterly)2	39,065,421	38,514,009	37,637,552.6	36,211,469	36,214,309.52	36,218,605	35,464,674	34,831,634	34,586,533	34,001,494	33,167,334	32,332,274	31,458,438
Held by the Public2	31,454,810.96	30,870,713.09	30,298,281.34	28,976,176.74	28,932,973.24	28,859,125	28,325,715	27,634,108	27,533,422	26,960,227	26,349,499	25,482,075	24,714,826
Of which: Held by foreign investors		9,270.9	9,234.4	9,090.3	9,054.2	8,619.3	8,766.3	8,299.3	8,107.9	7,940	7,509.1	7,563.2	7,468.6
Of which: Held by the FED	4,693.55	4,528.35	4,509.52	4,532.66	4,556.36	4,629.27	4,713.98	4,813.84	4,991.26	5,238.94	5,352.36	5,522.48	5,713.25
Held by Government Accounts	7,610,610.04	7,643,295.91	7,339,271.26	7,235,292.26	7,281,336.28	7,359,480	7,138,959	7,197,526	7,053,111	7,041,267	6,817,835	6,850,199	6,743,612

Latest reading

The latest reading is 122.59%, for Q1 2026. That is unchanged from Q4 2025 and +2.0 pp from a year earlier. The series on this page is quarterly and runs from Q1 1966 to Q1 2026. Source: FRED (Federal Reserve Bank of St. Louis).

Latest: 122.59%; Q1 2026
vs previous period: 0.0 pp; Q4 2025
vs a year earlier: +2.0 pp

About this data

US public debt to GDP ratio and total federal debt quarterly from FRED. Details debt held by the public and government accounts in the United States. Series date back to 1966, sourced from the Federal Reserve Bank of St. Louis and the US Ministry of Finance.

Frequently asked questions

What does the US Public Debt to GDP table measure?: It measures the total outstanding federal debt of the United States scaled against quarterly Gross Domestic Product to reflect the nation's overall repayment capacity.
How frequently is this table updated and what is the historical coverage?: The data is published on a quarterly basis and historical series extend back to 1966, tracking long-term shifts in United States government finances.
What are the primary ownership categories for total federal public debt?: Total debt is split into debt held by the public, which includes market borrowings, foreign investors, and the Federal Reserve, and debt held by government accounts such as trust funds.
Why is the debt-to-GDP ratio used instead of absolute debt numbers?: Because absolute United States federal debt almost exclusively increases over time, the debt-to-GDP ratio provides a standardized metric to evaluate debt relative to the size of the economy.