National Debt, Deficits, Interest & Money Supply · U.S. Office of Management and Budget (OMB)
U.S. Federal Net Interest Payments on National Debt (1940-2025)
Net interest outlays measure the annual debt-service cost paid by the U.S. Treasury on marketable Treasury bills, notes, bonds, and TIPS. In 2025, interest on national debt recorded 3.15% of GDP, compared with 3.00 in 2024. Across the 86-year archive (1940-2025), readings have ranged between 0.63 (1942) and 3.16 (1991).
Series Summary Ledger
- 2025 Reading3.15
- 2024 Reading3.00
- All-Time High (1991)3.16
- All-Time Low (1942)0.63
- Reporting Unit% of GDP
- Series CodeFYOIGDA188S / FYOINT
U.S. Office of Management and Budget (OMB) · 1940-2025
U.S. Federal Net Interest Payments on National Debt (1940-2025)
2025 Reading: 3.15 % of GDP
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DECADE BENCHMARKS (1950s-2020s)
Interest on National Debt by Decade
| Decade | Mean | Min | Max |
|---|---|---|---|
| 1950s | 1.25 | 1.10 | 1.60 |
| 1960s | 1.20 | 1.14 | 1.28 |
| 1970s | 1.38 | 1.21 | 1.62 |
| 1980s | 2.65 | 1.84 | 3.00 |
| 1990s | 2.89 | 2.39 | 3.16 |
| 2000s | 1.60 | 1.29 | 2.17 |
| 2010s | 1.39 | 1.22 | 1.74 |
| 2020s | 2.24 | 1.49 | 3.15 |
Interest on National Debt Year-by-Year Historical Table (1940-2025)
Source: U.S. Office of Management and Budget (OMB) (FYOIGDA188S / FYOINT)| Year | Interest on National Debt (% of GDP) | Annual Change | Annual Net Interest Outlays ($ Billions) |
|---|---|---|---|
| 2025 | 3.15 | +0.15 | 970.07 |
| 2024 | 3.00 | +0.64 | 879.88 |
| 2023 | 2.37 | +0.54 | 658.27 |
| 2022 | 1.83 | +0.34 | 475.89 |
| 2021 | 1.49 | -0.13 | 352.34 |
| 2020 | 1.62 | -0.13 | 345.47 |
| 2019 | 1.74 | +0.17 | 375.16 |
| 2018 | 1.57 | +0.23 | 324.98 |
| 2017 | 1.34 | +0.06 | 262.55 |
| 2016 | 1.28 | +0.06 | 240.03 |
| 2015 | 1.22 | -0.08 | 223.18 |
| 2014 | 1.30 | -0.01 | 228.96 |
| 2013 | 1.31 | -0.05 | 220.88 |
| 2012 | 1.36 | -0.12 | 220.41 |
| 2011 | 1.47 | +0.17 | 229.96 |
| 2010 | 1.30 | +0.01 | 196.19 |
| 2009 | 1.29 | -0.42 | 186.90 |
| 2008 | 1.71 | +0.07 | 252.76 |
| 2007 | 1.64 | 0.00 | 237.11 |
| 2006 | 1.64 | +0.23 | 226.60 |
| 2005 | 1.41 | +0.10 | 183.99 |
| 2004 | 1.31 | -0.02 | 160.25 |
| 2003 | 1.34 | -0.23 | 153.07 |
| 2002 | 1.56 | -0.38 | 170.95 |
| 2001 | 1.95 | -0.23 | 206.17 |
| 2000 | 2.17 | -0.21 | 222.95 |
| 1999 | 2.39 | -0.27 | 229.75 |
| 1998 | 2.66 | -0.18 | 241.12 |
| 1997 | 2.84 | -0.14 | 243.98 |
| 1996 | 2.99 | -0.05 | 241.05 |
| 1995 | 3.04 | +0.25 | 232.13 |
| 1994 | 2.78 | -0.11 | 202.93 |
| 1993 | 2.90 | -0.16 | 198.71 |
| 1992 | 3.06 | -0.10 | 199.34 |
| 1991 | 3.16 | +0.07 | 194.45 |
| 1990 | 3.09 | +0.10 | 184.35 |
| 1989 | 3.00 | +0.10 | 168.98 |
| 1988 | 2.90 | +0.04 | 151.80 |
| 1987 | 2.85 | -0.12 | 138.61 |
| 1986 | 2.97 | -0.01 | 136.02 |
| 1985 | 2.98 | +0.23 | 129.48 |
| 1984 | 2.75 | +0.28 | 111.10 |
| 1983 | 2.47 | -0.07 | 89.81 |
| 1982 | 2.54 | +0.40 | 85.03 |
| 1981 | 2.14 | +0.31 | 68.77 |
| 1980 | 1.84 | +0.22 | 52.53 |
| 1979 | 1.62 | +0.11 | 42.63 |
| 1978 | 1.51 | +0.07 | 35.46 |
| 1977 | 1.44 | +0.01 | 29.90 |
| 1976 | 1.43 | +0.05 | 26.73 |
| 1975 | 1.38 | -0.01 | 23.24 |
| 1974 | 1.39 | +0.17 | 21.45 |
| 1973 | 1.22 | +0.01 | 17.35 |
| 1972 | 1.21 | -0.06 | 15.48 |
| 1971 | 1.27 | -0.07 | 14.84 |
| 1970 | 1.34 | +0.09 | 14.38 |
| 1969 | 1.25 | +0.07 | 12.70 |
| 1968 | 1.18 | -0.02 | 11.09 |
| 1967 | 1.19 | +0.04 | 10.27 |
| 1966 | 1.15 | 0.00 | 9.39 |
| 1965 | 1.16 | -0.04 | 8.59 |
| 1964 | 1.20 | -0.02 | 8.20 |
| 1963 | 1.21 | +0.07 | 7.74 |
| 1962 | 1.14 | -0.05 | 6.89 |
| 1961 | 1.19 | -0.09 | 6.72 |
| 1960 | 1.28 | +0.18 | 6.95 |
| 1959 | 1.10 | -0.06 | 5.76 |
| 1958 | 1.16 | +0.04 | 5.60 |
| 1957 | 1.13 | 0.00 | 5.35 |
| 1956 | 1.13 | -0.01 | 5.08 |
| 1955 | 1.14 | -0.09 | 4.85 |
| 1954 | 1.23 | -0.09 | 4.81 |
| 1953 | 1.32 | +0.04 | 5.16 |
| 1952 | 1.28 | -0.06 | 4.70 |
| 1951 | 1.34 | -0.26 | 4.67 |
| 1950 | 1.60 | -0.06 | 4.81 |
| 1949 | 1.66 | +0.08 | 4.52 |
| 1948 | 1.58 | -0.10 | 4.34 |
| 1947 | 1.68 | -0.12 | 4.20 |
| 1946 | 1.81 | +0.44 | 4.11 |
| 1945 | 1.36 | +0.38 | 3.11 |
| 1944 | 0.99 | +0.24 | 2.22 |
| 1943 | 0.75 | +0.12 | 1.53 |
| 1942 | 0.63 | -0.10 | 1.05 |
| 1941 | 0.73 | -0.14 | 0.94 |
| 1940 | 0.87 | - | 0.90 |
Related Debt & Fiscal Series
- U.S. National Debt by Year & Debt-to-GDP Ratio (1966-2025)38.51
- U.S. Federal Debt-to-GDP Ratio by Year (1966-2025)120.7
- U.S. Federal Budget Deficit or Surplus by Year (1929-2025)-5.77
- U.S. Federal Tax Receipts vs. Outlays (% of GDP 1929-2025)17.02
- U.S. M2 Money Supply by Year (1959-2025)22,355.3
- 10-Year U.S. Treasury Yield History by Year (1962-2025)4.29