u.s. national debt by year


  • Joe Biden

    In January 2023, the nation hit the $31.4 trillion debt limit Congress passed in 2021.5Republican lawmakers in control of the House of Representatives said they won’t raise the debt limit unless Democrats, who control the Senate, agree to budget cuts. On Oct. 1, 2021, at the end of fiscal year 2021, the national debt was $28.4 trillion. Between the...

  • Donald Trump

    At the end of fiscal year 2020, the debt was $26.9 trillion. Trump added $6.7 trillion to the debt between fiscal year 2017 and fiscal year 2020, a 33.1% increase, largely due to the effects of the coronavirus pandemic and 2020 recession. In his FY 2021 budget, Trump's budget included a $966 billion deficit.14However, the national debt actually gre...

  • Barack Obama

    President Obama added about $8.6 trillion, about a 74% increase, to the national debt at the end of President Bush’s last budget in 2009. 1. FY 2017: $671 billion 2. FY 2016: $1.42 trillion 3. FY 2015: $326 billion 4. FY 2014: $1.09 trillion 5. FY 2013: $672 billion 6. FY 2012: $1.28 trillion 7. FY 2011: $1.23 trillion 8. FY 2010: $1.65 trillion 9....

  • George W. Bush

    President Bush added $5.85 trillion to the national debt, a 101% increase from the $5.8 trillion debt at the end of Clinton's last budget for fiscal year 2001. 1. FY 2009: $1.63 trillion (this was Bush's deficit without the impact of the Economic Stimulus Act) 2. FY 2008: $1.02 trillion 3. FY 2007: $501 billion 4. FY 2006: $574 billion 5. FY 2005: ...

  • Bill Clinton

    President Clinton increased the national debt by almost $1.4 trillion, almost a 32% increase from the $4.4 trillion debt at the end of President H.W. Bush's last budget.2 1. FY 2001: $133 billion 2. FY 2000: $18 billion 3. FY 1999: $130 billion 4. FY 1998: $113 billion 5. FY 1997: $189 billion 6. FY 1996: $251 billion 7. FY 1995: $281 billion 8. FY...

  • George H.W. Bush

    President H.W. Bush added $1.55 trillion to the debt, a 54% increase from the $2.857 trillion debt at the end of Reagan's last budget.2 1. FY 1993: $347 billion 2. FY 1992: $399 billion 3. FY 1991: $432 billion 4. FY 1990: $376 billion

  • Ronald Reagan

    President Regan added $1.86 trillion to the national debt, a 186% increase from the $997.8 billion debt at the end of Carter's last budget.2 1. FY 1989: $255 billion 2. FY 1988: $252 billion 3. FY 1987: $225 billion 4. FY 1986: $302 billion 5. FY 1985: $251 billion 6. FY 1984: $195 billion 7. FY 1983: $235 billion 8. FY 1982: $145 billion

  • Jimmy Carter

    President Carter added $299 billion to the debt, a 42.7% increase from the $698.8 billion debt at the end of Ford's last budget.2 1. FY 1981: $90.1 billion 2. FY 1980: $81.1 billion 3. FY 1979: $54.9 billion 4. FY 1978: $72.7 billion

  • Gerald Ford

    President Ford added $223.7 billion to the debt.2 1. FY 1977: $78.4 billion 2. FY 1976: $87.2 billion 3. FY 1975: $58.1 billion

What is the current US national debt?

The U.S. national debt is over 28 TRILLION dollars. That's trillions — with a "T". As in 28,174 billion dollars. It's terrifying. It's way more than the combined cost of World War II, the Korean War, the Vietnam War, and NASA's entire space program since it started.

How did the US national debt get so high?

Major events, like wars and pandemics, can increase the national debt. During national threats, the U.S. increases military spending. For example, the U.S. debt grew after the September 11, 2001, attacks as the country increased military spending to launch the War on Terror.

What are the consequences of a high national debt?

A few of the harmful effects of a high national debt are: Higher Taxes: If a country is struggling to get its debt under control, one option may be to raise taxes. The extra tax money would be used to pay off some of the debt.

How much was the national debt at the beginning of fiscal year 2022?

The national debt was at $28.4 trillion when fiscal year 2022 began on Oct. 1, 2021. On Feb. 14, 2022, the debt hit $30 trillion for the first time. 2 Budget deficits add to the national debt; if that debt grows faster than gross domestic product (GDP), the debt-to-GDP ratio may get too large.

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