Federal Debt to GDP
US Federal Debt as % of GDP — Historical Chart
122.6% GDP
▲ 1.70% YoYJan 2026
All-Time High
132.7% GDP
All-Time Low
30.6% GDP
Data Since
1966
Source: FRED / TreasuryShaded = NBER recessions
Total publicly held US federal debt as a percentage of GDP. Hit 106% in 2023 — approaching the WWII peak of 106% and projected to continue rising. Japan is the cautionary tale at 260% debt/GDP with near-zero growth. This chart is the defining long-term macro risk of the decade.