U.S. Treasury debt surpasses $30 trillion, doubling since 2018

[U.S. Treasury Debt Surpasses $30 Trillion Mark, Doubles Since 2018] The total amount of sovereign debt issued by the U.S. Treasury has surpassed $30 trillion for the first time, more than doubling since 2018. Data released on Thursday shows that as of November, the U.S. government’s outstanding Treasury bills, notes, and bonds totaled $30.2 trillion. This $30.2 trillion in debt constitutes the main component of the total U.S. federal debt. As of November, the total national debt of the United States reached $38.4 trillion, which includes obligations to the Social Security Trust Fund, savings bondholders, and others. According to the Securities Industry and Financial Markets Association, in 2020, the U.S. raised $4.3 trillion by issuing these three types of Treasury securities, with the fiscal deficit exceeding $3 trillion that year. Although the deficit has since narrowed (dropping to about $1.78 trillion in the 2025 fiscal year), interest payments on the debt alone amount to $1.2 trillion. Jason Williams, Citigroup rates strategist, pointed out: “The biggest challenge is interest expense. Even if tariff revenues reach $300–400 billion, it’s still far less than what we pay in interest on our existing debt. It’s like we’re stuck in quicksand—tariffs may slow our sinking a bit, but we’re still going down.”