Budget Barometer: 6 Key Debt Numbers
A good way to judge the national debt is as a share of the overall economy (or GDP).
Based on the latest figures from the Congressional Budget Office (CBO), debt as a share of GDP is almost double the historical average, and could rise near record levels by the end of the decade.
|Debt Held By the Public||Debt as a Percent of GDP|
|Debt in 2007 (before the Great Recession)||35%|
|50-year historical average||41%|
|Debt in 2028 (under current law)||96%|
|Debt in 2028 (if lawmakers extend tax cuts and spending increases)||105%|
|Record high (set right after World War II)||106%|
For more, check out our recent analysis of CBO's numbers, or our Q&A explaining the difference between the gross national debt and the debt held by the public.