Summary of Total U.S. Debt & Interest As of May 2020

Every so often the public collectively wonders how much the United States owes in debt. Well, here it is in this TaxAssurances YouTube video. As of 04/30/2020 the United States owes $24,974,171,868,164.35 to various individuals and organizations. That’s trillion with a T.

Here’s a link to the U.S. DEPARTMENT OF THE TREASURY that provides up to date information about the public national debt. https://www.treasurydirect.gov/NP/debt/current

Also, here’s how that debt has grown since September of 2000 as also provided by the U.S. DEPARTMENT OF THE TREASURY. https://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm

It’s worth noting that with this debt their is interest that the United States pays. Last year the United States spent a total of $4.4 trillion for the full fiscal year. Of that spending, roughly 13% or $573 billion was spent on just the interest we have on that $24.9 trillion in debt.

Here is the U.S. DEPARTMENT OF THE TREASURY report that summarizes our total spending by various categories (page 9 of 40). It’s entitled, “Final Monthly Treasury Statement, Receipts and Outlays of the United States Government for Fiscal Year 2019 Through September 30, 2019 and Other Periods.” https://www.fiscal.treasury.gov/files/reports-statements/mts/mts0919.pdf

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Source: U.S. DEPARTMENT OF THE TREASURY.

Author: TaxAssurances, LLC

Chex Balances is the blogsite of TaxAssurances, LLC, an independent financial services firm that provides expert advice and solutions in Accounting and Insurance. The site provides insightful and useful information around the reader's financial life. Information that helps them understand and navigate the financial details of everyday living.

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