Federal debt of the United States - forecast 2018-2029
Forecast of the gross federal debt of the United States for fiscal years 2018 to 2029 (in billion U.S. dollars)
By 2029, the gross federal debt of the United States is projected to be about 33.65 trillion U.S. dollars. This would be an increase of about 12 trillion U.S. dollars from 2018, when the federal debt was 21.46 trillion U.S. dollars.
The federal debt of the U.S.
The federal debt, also called the national debt or public debt, is the amount of debt held by the United States government. This debt may be to other countries, or to different departments within the government itself. The public debt of the United States has increased significantly over the past 30 years, as it was around 3.2 trillion U.S. dollars in 1990 and totaled around 21.5 trillion U.S. dollars in September 2018.
The problem of the federal debt
Over the past number of years, the federal debt limit in the United States has been hiked significantly, which in the past few years was done in order to prevent the U.S. government from shutting down. The issue of the U.S. federal debt has put a wedge between Democrats and Republicans, as the two parties are unable to find an effective solution to reduce the federal debt.
When broken down per capita, the national debt amounted to about 65,600 U.S. dollars of debt per person in the United States.
Forecast of the gross federal debt of the United States for fiscal years 2018 to 2029 (in billion U.S. dollars)
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| Year | National debt (in billion U.S. dollars) |
|---|---|
| 2029* | 33,657 |
| 2028* | 32,558 |
| 2027* | 31,351 |
| 2026* | 30,331 |
| 2025* | 29,175 |
| 2024* | 28,020 |
| 2023* | 26,922 |
| 2022* | 25,759 |
| 2021* | 24,598 |
| 2020* | 23,522 |
| 2019* | 22,465 |
| 2018 | 21,461 |
Source
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