The American Five Year PlanProsperity and solvencyRow 3
Debt held by the public, share of GDP
99.5% (FY2025)Below 106.1% in every year
Binding scored on Congress and the President% of GDP, fiscal year
Why this row
Debt held by the public was 99.5% of GDP in FY2025 against the record of 106.1% set in FY1946. CBO's baseline passes 106 on its way to 120% by 2036, and net interest is the fastest-growing line in the budget. The row is a ceiling, not a trajectory: below the 1946 record in every year of the window. After 1946 the country carried its debt from 106.1% to 23.2% of GDP by FY1974, and the growth rows of this plan are how it did it.
The path
| 2028 | 2029 | 2030 | 2031 | 2032 |
|---|---|---|---|---|
| 106.1 | 106.1 | 106.1 | 106.1 | 106.1 |
a ceiling in every year, not a trajectory; CBO's February 2026 baseline passes 106% inside the window on the way to 120% by 2036
Each July 4 the row shows its baseline, this path, the latest official value and a status of ahead, on schedule or behind. As a binding row it also links the decisions by Congress and the President that moved the number during the year.