U.S. National Debt Grows by $5.11 Million Every Minute, Says JEC
The Joint Economic Committee reports that the federal debt is rising at a pace of $5.11 million per minute, putting the per-person burden at $117,279.
The Joint Economic Committee’s monthly budget briefing shows the United States’ gross national debt climbing at $85,111.72 per second, or roughly $5.11 million each minute, over the last year. This surge adds $2.67 trillion relative to the same time last year and $11.68 trillion more than five years prior. Daily, the debt expands by about $7.35 billion, which translates to $306.4 million per hour.
If this pace continues, the total debt is projected to hit $41 trillion by mid-January and exceed $42 trillion by around June 2027. The debt burden now amounts to $117,279 per individual and $297,522 per household, reflecting increases of $7,806 per person and just under $20,000 per household over the past year. The JEC also noted that average interest on marketable debt rose to 3.475% in August 2026 from 3.415% a year earlier, with total interest payments to trust funds reaching $294.76 billion in the last twelve months.
Why it matters
Rapid debt growth raises future tax and interest-payment pressures for American households.
How this story developed
- Aug 10 U.S. national debt surpasses $40 trillion for the first time
- Aug 19 Treasury data shows the debt crossed $40 trillion.
- Aug 20 Democrats and Republicans expressed outrage over the U.S. gross national debt reaching $40 trillion for the first time.
- Aug 20 30‑year Treasury yields rose to 5.3% and debt held by investors reached about $37.64 trillion.
- Aug 23 The Treasury announced an expanded buy‑back operation for government bonds.
- Aug 25 The Treasury announced an expansion of long‑term bond repurchases.
- Aug 26 Democrats and Republicans led by Dick Durbin and Bill Cassidy have introduced a bill that would require the Social Security Advisory Board to draft legislation aimed at keeping the program solvent for at least five decades.
- Aug 26 The national debt crossed the $40 trillion threshold.
- Aug 29 President Trump publicly downplayed the $40 trillion debt, asserting that economic growth will resolve the issue.
- Aug 31 Senators John Barrasso and Rep. Greg Steube introduced the Dollar‑for‑Dollar Deficit Reduction Acts.
- Sep 3 Senators Dick Durbin and Bill Cassidy put forward a bipartisan bill tasking the Social Security Advisory Board with drafting long‑term solvency legislation.
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