❗Let's close the gap: We still need your help to raise $40,000 by April 1. Donate now

Breaking down the $31.4 trillion national debt

Jan 27, 2023
There are public holders and government agencies, which all comes into play in the congressional debt ceiling battle.
The national debt is made up of two big pieces — intragovernmental holdings and IOUs held by the public. Above, the U.S. Capitol dome seen through a glass ceiling.
Drew Angerer/Getty Images

U.S. debt is hitting historic heights. How much of a problem is that?

The last time the deficit was this high, as a percentage of the total economy, was 1946.
A national debt counter from mid-June. The U.S. is approaching a position it has not seen since World War II, as the amount of government debt is on pace to exceed the size of the nation's economy.
Olivier Douliery/AFP via Getty Images
STR/AFP/Getty Images