Debt in the US has increased significantly

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Americans are grappling with approximately $1.6 trillion in student loan debt as of June 2024, a significant 42% increase from a decade ago. This rise coincides with more young adults attending college and an escalation in higher education costs.

US Debt Increase by Year

The U.S. national debt has experienced significant growth over the years, with the following key milestones:

1982: First exceeded $1 trillion.

2008: Reached $10 trillion.

2017: Passed $20 trillion.

2023: Surpassed $30 trillion.

2025: Exceeded $38 trillion, with the largest one-year increase at over $4.2 trillion due to the COVID-19 pandemic. 

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The debt growth rate is approximately $5-6 billion per day, or about $1.8-2 trillion per year. The pace has accelerated dramatically, taking 40 years to go from $1T to $10T and only 17 years to go from $10T to $38T. 

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For a detailed view of the U.S. national debt by year, including total debt, debt held by the public, GDP, debt-to-GDP ratio, population, debt per person, annual deficit, and interest on debt, you can download the complete dataset from the U.S. Treasury Fiscal Data API. 

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Approximately $105,444

As of the first quarter of 2026, the average debt of Americans is approximately $105,444. This figure includes various types of debt such as mortgages, auto loans, credit cards, and student loans. The total household debt in the U.S. has reached $18.8 trillion as of the same period, reflecting a significant increase since the pandemic. 

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