As of Sept. 30, 2020, the federal debt was $26.9 trillion - up $4.2 trillion from last year, due largely to the government's COVID-19 response.
Treasury's Fiscal Service borrows the money for federal operations. It reports the debt in a financial statement called the Schedule of Federal Debt.
We audit and issue an opinion annually on the Schedules and related internal controls (e.g., transactions are properly authorized and recorded). In FY20, we found the Schedules to be reliable. Also, Fiscal Service maintained effective internal control over financial reporting related to the debt, although controls over information systems could be improved.
2020 Federal Debt of the U.S. Government