September 4, 2023
![Federal debt held by the public was 97% of GDP in 2021. It increased sharply after 2010 due to the great recession and then recovery efforts in response to the COVID-19 pandemic and is projected to increase to 107% of GDP in 2028. Federal debt held by the public was 97% of GDP in 2021. It increased sharply after 2010 due to the great recession and then recovery efforts in response to the COVID-19 pandemic and is projected to increase to 107% of GDP in 2028.](https://www.taxpolicycenter.org/sites/default/files/fiscal-facts/ff_screenshot_9.4.2023_1.png)
Fact:
Federal debt held by the public was 97% of GDP in 2021. It increased sharply after 2010 due to the great recession and then recovery efforts in response to the COVID-19 pandemic and is projected to increase to 107% of GDP in 2028.