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  Debts and Deficits   *** FY2016 Budget numbers ***

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Debt Clock

Today’s Federal Debt is about $18,233,290,566,000.

The amount is the gross federal debt issued by the United States Department of the Treasury since 1790. It doesn’t include state and local debt, and it doesn’t include the so-called unfunded liabilities of entitlement programs like Social Security and Medicare.


Total US Government Debt in 2015


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At the end of FY 2015 the total government debt in the United States, including federal, state, and local, is expected to be $21,693.872 trillion.

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Total Federal Government Debt in 2015


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At the end of FY 2015 the gross US federal government debt is estimated to be $18,627.590 trillion, according to the FY16 Federal Budget. Of this gross amount, debt “Held by the Public: Other” is estimated by usgovernmentspending.com at $11,054.600 trillion, debt “Held by the Public: Federal Reserve System” (i.e. monetized debt) is estimated by usgovernmentspending.com at $2,451.740 trillion and debt “Held by Federal Government Accounts” is estimated at $5,121.250 trillion.

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Total State Government Debt in 2015


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At the end of FY 2015 the state government debt in the United States is expected to be $1,153.067 trillion.

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Total Local Government Debt in 2015


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At the end of FY 2015 the local government debt in the United States is expected to be $1,913.215 trillion.

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Debt Data Sources

Debt data is from official government sources.
  Federal data since 1962 comes from the president’s budget.
  All other debt data comes from the US Census Bureau.

Gross Domestic Product data comes from US Bureau of Economic Analysis and measuringworth.com.

Detailed table of debt data sources here.

Federal debt data begins in 1792.

State and local debt data begins in 1890.

State and local debt data for individual states begins in 1957.

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Gross Federal Debt

Debt: $18,233,290,566,000

Data Sources for 2010_2020:

Sources for 2010:

GDP, GO: GDP, GO Sources
Federal: Fed. Budget: Hist. Tables 3.2, 5.1, 7.1
State and Local: State and Local Gov. Finances
'Guesstimated' by projecting the latest change in reported spending forward to future years

Sources for 2020:

GDP, GO: GDP, GO Sources
Federal: Fed. Budget: Hist. Tables 3.2, 5.1, 7.1
State and Local: State and Local Gov. Finances
'Guesstimated' by projecting the latest change in reported spending forward to future years

> data sources for other years
> data update schedule.

State Finances for FY 2013

On February 3, 2015 the US Census Bureau released data on state finances for FY 2013 here, including spending and revenue for each individual state and for all states combined.

On February 3, 2015 we updated state and local spending and revenue data for FY2013 through FY2020 as follows:
  1. We replaced "guesstimatedstate spending and revenue data for FY2013 using the new FY2013 data from the Census Bureau.
  2. We replaced "guesstimatedlocal spending and revenue data for FY 2013 with estimates for each spending and revenue category using the trends in state finances between FY 2012 and FY 2013.
  3. We replaced "guesstimatedstate revenue data for FY 2014 with data from the Census Bureau's quarterly state tax summary here.
  4. We replaced "guesstimatedlocal revenue data for FY 2014 with estimates for each category using trends for each category of state revenue between FY 2013 and FY 2014.
  5. We replaced "guesstimated" state and local spending and revenue for FY 2014 thru FY2020 with new guesstimates based on the latest Census Bureau data for FY 2013 state finances and FY 2014 quarterly tax data.
We expect the Census Bureau to release local spending and revenue data for FY 2013 not earlier than Summer 2015.

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