U.S. debt-to-GDP ratio reaches 123%

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Federal Debt: Total Public Debt as Percent of Gross Domestic Product (GFDEGDQ188S) | FRED | St. Louis Fed

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Federal Debt: Total Public Debt as Percent of Gross Domestic Product (GFDEGDQ188S)

Observations

Q1 2026: 122.59387 |<br>Percent of GDP, Seasonally Adjusted |

Quarterly

Updated:

Jun 25, 2026<br>8:01 AM CDT

Next Release Date:<br>Jul 30, 2026

Observations

Q1 2026:<br>122.59387

Updated:<br>Jun 25, 2026<br>8:01 AM CDT

Next Release Date:<br>Jul 30, 2026

Q1 2026:<br>122.59387

Q4 2025:<br>122.56815

Q3 2025:<br>121.02875

Q2 2025:<br>118.78171

Q1 2025:<br>120.54515

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Units:

Percent of GDP,<br>Seasonally Adjusted

Frequency:

Quarterly

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Data in this graph are copyrighted. Please review the copyright information in the series notes before sharing.

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Notes

Source:<br>U.S. Office of Management and Budget<br>Source:<br>Federal Reserve Bank of St. Louis

Release:<br>Debt to Gross Domestic Product Ratios

Units:

Percent of GDP, Seasonally Adjusted

Frequency:

Quarterly

Notes:

Federal Debt: Total Public Debt as Percent of Gross Domestic Product (GFDEGDQ188S) was first constructed by the Federal Reserve Bank of St. Louis in October 2012. It is calculated using Federal Government Debt: Total Public Debt (GFDEBTN) and Gross Domestic Product, 1 Decimal (GDP):<br>GFDEGDQ188S = ((GFDEBTN/1000)/GDP)*100<br>GFDEBTN/1000 transforms GFDEBTN from millions of dollars to billions of dollars.

Suggested Citation:

U.S. Office of Management and Budget and Federal Reserve Bank of St. Louis,<br>Federal Debt: Total Public Debt as Percent of Gross Domestic Product [GFDEGDQ188S],<br>retrieved from FRED,<br>Federal Reserve Bank of St. Louis;<br>https://fred.stlouisfed.org/series/GFDEGDQ188S,

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