A better measure of fiscal pressure indicates manageable but growing burden: Ratio of real debt service payments to GDP, 1962–2035
| Year | Real debt service payments as % of GDP | Real debt service payments as % of GDP |
|---|---|---|
| 1962 | 0.90% | 0.90% |
| 1963 | 0.87% | 0.87% |
| 1964 | 0.74% | 0.74% |
| 1965 | 0.76% | 0.76% |
| 1966 | 0.68% | 0.68% |
| 1967 | 0.68% | 0.68% |
| 1968 | 0.60% | 0.60% |
| 1969 | 0.58% | 0.58% |
| 1970 | 0.62% | 0.62% |
| 1971 | 0.64% | 0.64% |
| 1972 | 0.67% | 0.67% |
| 1973 | 0.62% | 0.62% |
| 1974 | 0.63% | 0.63% |
| 1975 | 0.68% | 0.68% |
| 1976 | 0.81% | 0.81% |
| 1977 | 0.84% | 0.84% |
| 1978 | 0.88% | 0.88% |
| 1979 | 0.87% | 0.87% |
| 1980 | 0.97% | 0.97% |
| 1981 | 1.16% | 1.16% |
| 1982 | 1.50% | 1.50% |
| 1983 | 1.63% | 1.63% |
| 1984 | 1.90% | 1.90% |
| 1985 | 2.10% | 2.10% |
| 1986 | 2.16% | 2.16% |
| 1987 | 2.14% | 2.14% |
| 1988 | 2.25% | 2.25% |
| 1989 | 2.33% | 2.33% |
| 1990 | 2.40% | 2.40% |
| 1991 | 2.53% | 2.53% |
| 1992 | 2.57% | 2.57% |
| 1993 | 2.48% | 2.48% |
| 1994 | 2.36% | 2.36% |
| 1995 | 2.57% | 2.57% |
| 1996 | 2.61% | 2.61% |
| 1997 | 2.47% | 2.47% |
| 1998 | 2.24% | 2.24% |
| 1999 | 1.99% | 1.99% |
| 2000 | 1.78% | 1.78% |
| 2001 | 1.54% | 1.54% |
| 2002 | 1.23% | 1.23% |
| 2003 | 1.06% | 1.06% |
| 2004 | 1.09% | 1.09% |
| 2005 | 1.17% | 1.17% |
| 2006 | 1.34% | 1.34% |
| 2007 | 1.31% | 1.31% |
| 2008 | 1.40% | 1.40% |
| 2009 | 0.89% | 0.89% |
| 2010 | 0.69% | 0.69% |
| 2011 | 0.87% | 0.87% |
| 2012 | 0.70% | 0.70% |
| 2013 | 0.72% | 0.72% |
| 2014 | 0.62% | 0.62% |
| 2015 | 0.50% | 0.50% |
| 2016 | 0.67% | 0.67% |
| 2017 | 0.80% | 0.80% |
| 2018 | 1.11% | 1.11% |
| 2019 | 1.33% | 1.33% |
| 2020 | 1.07% | 1.07% |
| 2021 | 0.90% | 0.90% |
| 2022 | 1.38% | 1.38% |
| 2023 | 2.22% | 2.22% |
| 2024 | 3.04% | 3.04% |
| 2025 | 3.15% | |
| 2026 | 3.20% | |
| 2027 | 3.28% | |
| 2028 | 3.42% | |
| 2029 | 3.34% | |
| 2030 | 3.41% | |
| 2031 | 3.49% | |
| 2032 | 3.58% | |
| 2033 | 3.64% | |
| 2034 | 3.69% |
Note: Real debt service is calculated as nominal interest payments minus the product of the last year’s inflation rate multiplied by last year’s outstanding debt, minus remittances from the Federal Reserve to the federal government, all divided by GDP. Real debt service accounts for the effect of inflation in eroding the outstanding value of public debt, and for the fact that some debt service payments are actually paid to the Federal Reserve who in turn remit them back to the U.S. Treasury.
Source: Congressional Budget Office historical budget and economic data and 10-year budget and economic projections.