How Much Money You’d Owe If the National Debt Was Divided by Household

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If you feel your credit card bill is bad, you should see the amount of federal debt the United States holds. The rapidly growing deficit seems to indicate between what the government spends, including the interest payments, the debt owed doesn’t look great for the country’s economic growth over the next several years.

As of January 2025, the U.S. national debt has hit $36.22 trillion, per the U.S. Department of the Treasury. If that wasn’t enough, as of the end of last year the U.S. government paid $308 billion in interest on its debt. The U.S. has always carried debt and annual deficits, which allows the government to pay for important programs and services for the public.

Here are a few key takeaways:

• The debt ceiling is a restriction imposed by Congress on the amount of outstanding debt the federal government can have.
• Typically, the federal government cannot increase the amount of outstanding debt over the debt limit. 
• Last year’s debt increase limit deal suspended the nation’s borrowing limit until January 2025, meaning the country’s debt can grow beyond the ceiling.
• That time has come, and on Jan. 2, 2025, the debt ceiling to $36.1 trillion, which is still precarious.
• This new ceiling for the federal budget and debt is the amount of outstanding debt subject to the limit at the end of the previous day. It was increased from $31.4 trillion in June 2023, when the cap was suspended as part of the bipartisan Fiscal Responsibility Act

Keep reading for a closer look at how much you would owe if the national debt was divided among Americans.

How Much Debt Would You Owe?

A new forecast released from the nonpartisan Congressional Budget Office (CBO) said the federal government’s national debt could grow even bigger, potentially reaching $54 trillion by 2034, according to reporting by ABC News. However, before it gets to that point, how much would each citizen owe if the responsibility of the national debt was held by the public?

If the current national debt is $36.22 trillion, and there are roughly 258.3 million people over the age of 18, then the bill per adult person would be about $140,147. Now, this is just to put the amount in perspective, as it doesn’t quite work like you’re splitting the dinner check. 

Final Take To GO

The bottom line is that high interest rates have impacted not only everyday consumers but also the government’s expenditures. In 2025, interest costs related to the overall economy will be larger than at any point since 1940. The CBO expects the Federal Reserve to start lowering interest rates in the middle of this fiscal year.

There is some good news as the CBO said legislation enacted last year will result in a lower budget deficit — the difference between how much money the federal government brings in versus how much it spends — than previously expected. 

The CBO also noted the smaller budget deficit is due to a strong economy and jobs market, but it’s still not enough to stop the budget deficit from growing by $1.6 trillion this year and $2.6 trillion over the next decade. As anyone in debt can attest, bringing funds in is always better than borrowing money, so be thankful that you’re not splitting the bill directly. 

Josephine Nesbit contributed to the reporting for this article.

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