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Public debt hits 100.03% of GDP in 2026

By Drooid · Oct 30, 2026 · How we work

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Summary

U.S. Treasury Department reported public debt reached 100.03% of GDP at fiscal year end 2026.
Debt total rose to $32.2 trillion, up from 99.4% of GDP in fiscal 2025.
Fiscal 2026 budget deficit was $1.992 trillion, or 6.2% of GDP.
Q3 2026 GDP grew at a 3.4% annual rate, the fastest in a year.
CBO projects Social Security’s trust fund could be depleted as early as 2032.

Summary

President Donald Trump warned at a Mississippi rally that Democratic win would cause a “1929-style depression.”
He pledged a $5,000 payment to every adult if Republicans control both the House and Senate.
Net interest expenses reached $1.05 trillion, surpassing the $965 billion spent on national defense.
The 10-year Treasury yield stood at 5.05% on Oct. 28, affecting mortgage rates.
Analysts say interest costs could rise $379 billion if rates exceed CBO forecasts by 0.1 point.

History

In March 1933 President Franklin D. Roosevelt enacted the Emergency Banking Act, passed on March 9, to end a bank holiday and let the twelve Federal Reserve Banks issue unlimited currency to solvent banks, creating 100 percent deposit insurance. The act restored confidence, spurred the FDIC’s formation, and established a federal fiscal response model that now underlies debates over today’s soaring debt and warnings of a new depression.

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In March 1933 President Franklin D. Roosevelt enacted the Emergency Banking Act, passed on March 9, to end a bank holiday and let the twelve Federal Reserve Banks issue unlimited currency to solvent banks, creating 100 percent deposit insurance. The act restored confidence, spurred the FDIC’s formation, and established a federal fiscal response model that now underlies debates over today’s soaring debt and warnings of a new depression.

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