The national debt just topped $40 trillion and will continue to rise. At this level, it is 123% of the country's Gross Domestic Product. Yes, the national debt is larger than the GDP, and it has consistently been higher since 2015. It should be noted that the national debt has exceeded GDP during serious emergencies in the past; for example, the debt-to-GDP ratio rose to 121% by the end of WWII. More recently, in the 2nd quarter of 2020, amid the COVID crisis, the national debt rose to 135% of GDP, higher than it was after WWII.