Fact Check: "The United States has a federal debt exceeding $31 trillion."
What We Know
As of October 2023, the total federal debt of the United States has indeed surpassed $31 trillion. According to the Debt to the Penny dataset provided by the U.S. Treasury, the total public debt outstanding was reported to be approximately $33.1 trillion. This figure includes both debt held by the public and intragovernmental holdings. The dataset is updated daily and provides a comprehensive view of the national debt.
Additionally, a report from the Joint Economic Committee indicates that as of June 2025, the total gross national debt was projected to be around $36.21 trillion, reflecting a significant increase over the previous years. This aligns with the ongoing trend of rising national debt, which has been a topic of concern among economists and policymakers.
Analysis
The claim that the U.S. federal debt exceeds $31 trillion is supported by multiple reliable sources. The Debt to the Penny dataset is a primary source of information directly from the U.S. Treasury, which is responsible for managing federal finances. This dataset is considered highly credible as it is maintained by the government and updated regularly.
Moreover, the Joint Economic Committee provides additional context by detailing the growth of the national debt over time, which further corroborates the claim. The increase in debt is attributed to various factors, including government spending and economic policies, which have led to a substantial rise in borrowing.
While the Congressional Budget Office also provides insights into the federal debt and its implications, it is essential to note that projections and estimates can vary slightly based on the timing of data collection and reporting methods. However, the consensus across these sources confirms that the federal debt has indeed exceeded the $31 trillion mark.
Conclusion
Verdict: True
The claim that the United States has a federal debt exceeding $31 trillion is accurate. The evidence from multiple credible sources, including the U.S. Treasury's Debt to the Penny dataset and reports from the Joint Economic Committee, supports this assertion. The national debt continues to grow, reflecting ongoing fiscal challenges faced by the government.
