Federal Debt
Returns the total U.S. federal government debt (national debt), including debt held by the public and intragovernmental holdings.
Data Source
U.S. Treasury via Federal Reserve Economic Data (FRED).
Usage Notes
- No parameters required
- Returns value in billions or trillions (check series)
- Data updated quarterly
- Includes both marketable and non-marketable debt
Debt Components
| Component | Description |
|---|---|
| Debt Held by Public | Treasury securities owned by investors |
| Intragovernmental | Debt owed to government trust funds (Social Security) |
Debt Context
| Metric | Significance |
|---|---|
| Debt-to-GDP ratio | Sustainability measure |
| Interest expense | Budget impact |
| Debt ceiling | Legal limit on borrowing |
Syntax
=FederalDebt()Returns
number
Total federal debt in billions or trillions of dollars
Examples
=FederalDebt()When to Use
- Tracking national debt levels
- Fiscal sustainability analysis
- Government finance research
- Building economic dashboards
When NOT to Use
| Scenario | Use Instead |
|---|---|
| Need annual deficit/surplus | FederalSurplusOrDeficit() |
| Need government spending | FederalOutlays() |
| Need government revenue | FederalReceipts() |
Common Issues & FAQ
What units is this in?
Check the specific series - may be in billions or millions of dollars. The current debt exceeds $34 trillion.
Does this include state/local debt?
No, this is federal government debt only. State and local governments have separate debt.
Related Formulas
More MarketXLS Economic Data formulas you can use in the same worksheet:
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- GDP Price Deflator
- Hires - Nonfarm
- House Price Index
- House Price Index - Shiller 20 City
- Housing Starts
- Industrial Production Index
- Inflation
See FederalDebt used in a complete workbook: Junk Bond ETF Tracker Excel: June 2026 Credit Spread Recession Signal Dashboard
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