Einar H. Dyvik
Research expert covering Nordics and global data for society, economy, and politics
The U.S. debt ceiling - statistics & facts
In the United States, debt has more than tripled since 2008, surpassing 30 trillion dollars for the first time in 2022. Elevated levels of government spending compared with the previous century brings the nation’s deficit into the spotlight every few years as the statutory limit on government debt is reached. This statutory limit is often referred to as the “debt ceiling,” and the U.S. government reached this limit once again in January 2023. The debt ceiling limits the total amount of money that the government is authorized to borrow in order to meet its existing legal obligations and it does not have an active role in limiting new commitments to spending.
