The US %Debt/GDP reached 136% in 2020 due to low interest rates and out-of-control government spending.
US Nominal GDP reached a high of $105 Billion in 1929 and declined to $57 Billion in 1933 due to the Great Depression. US GDP tripled from $103 Billion in 1940 to $300 Billion by 1950.
US Nominal GDP, federal government debt, % debt/GDP, inflation and unemployment from 1929 to 2020 are listed below.
Billions
Year
GDPB DebtB %D/G Inflation Unemployment
1929
105B 17B 16% 0.6%
3.2%
1930 92 16 17
-6.4 8.7
1931 77
17 22
-9.3 15.9
1932 60
20 34
-10.3 23.6
1933 57 23 40 0.8
24.9
1934 67 27 40 1.5
21.7
1935 74 29 39 3.0
20.1
1936 85 34 40
1.4 16.9
1937 93 36 39 2.9
14.3
1938 87 37 42 -2.8
19.0
1939 93 40 43
0.0 17.2
1940
103 43 42 0.7
14.6
1941
129 49 38
9.9 9.9
1942
166 72 43
9.0 4.7
1943 203 137 67 3.0 1.9
1944
224 201 90 2.3 1.2
1945
228 259 114 2.2 1.9
1946
228 269 118
18.1 3.9
1947 250 258 103
8.8 3.6
1948 275 252 92
3.0 4.0
1949
273 253 93
-2.1 6.6
1950
300 257 86
5.9 4.3
1951
347 255 74
6.0 3.1
1952 367 259 71 0.8 2.7
1953
389 266 68
0.7 4.5
1954
391 271 69
-0.7 5.0
1955
426 274 64
0.4 4.2
1956
449 273 61 3.0 4.2
1957
474 271 57
2.9 5.2
1958
481 276 57
1.8 6.2
1959
522 285 55
1.7 5.3
1960 542
286 53 1.4 6.6
1961 562
289 51
0.7 6.0
1962 604 298 49 1.3 5.5
1963 638 306 48
1.6 5.5
1964 685 212 46 1.0 5.0
1965 742 317 43
1.9 4.0
1966 813 320 39 3.5 3.8
1967 860 326 38 3.0 3.8
1968 941 348 37
4.7 3.4
1969 1018 354 35 6.2 3.5
1970 1073 371 35 5.6 6.4
1971 1165 398
34 3.3 6.0
1972 1279 427
33
3.4 5.2
1973 1425 458
32 8.7 4.9
1974 1545 475 31 12.3 7.2
1975 1685 533 32 6.9 8.2
1976 1873 620 33
4.9 7.8
1977 2082 699 34
6.7 6.4
1978 2352 772
33
9.0 6.0
1979 2627 827
31
13.3 6.0
1980 2857 908 32 12.5 7.2
1981 3207 998 31
8.9 8.5
1982 3344 1142 34 3.8
10.8
1983 3634 1377
38
3.8 8.3
1984 4038 1572 39 3.9 7.3
1985 4339 1823 42 3.8 7.0
1986
4580 2145 46 1.1 6.6
1987
4855 2350 48
4.4 5.7
1988
5236 2602 50
4.4 5.3
1989 5642 2857 51 4.6 5.4
1990 5963 3233 54 6.1 6.3
1991 6158 3665 60 3.1 7.3
1992
6520 4065
62 2.9 7.4
1993
6859 4411
64 2.7 6.5
1994
7287 4693
64 2.7 5.5
1995
7640 4974
65
2.5 5.6
1996 8073 5225 65 3.3 5.4
1997 8578 5413 63
1.7 4.7
1998
9063 5526 61
1.6 4.4
1999 9631 5656
59
2.7 4.0
2000 10252 5674
55
3.4 3.9
2001 10582 5807 55
1.6 5.7
2002 10936 6228
57
2.4 6.0
2003 11458 6783
59
1.9 5.7
2004 12214 7379 60
3.3 5.4
2005 13037 7933
61
3.4 4.9
2006 13815 8507
62
2.5 4.4
2007 14452 9008
62 4.1 5.0
2008 14713 10025 68 0.1 7.3
2009 14449 11910 82 2.7 9.9
2010 14992 13562 91 1.5 9.3
2011 15543 14790 95
3.0 8.5
2012 16197 16066
99
1.7 7.9
2013 16785 16738 100 1.5 6.7
2014 17527 17824 102 0.8 5.6
2015 18238 18151 100
0.7 5.0
2016 18745 19573 104 2.1 4.7
2017 19543 20245 104
2.1 4.1
2018 20612 21516 104
1.9 3.9
2019 21433 22719 106
2.3 3.5
2020 21480 26477 136 1.2 13.3
https://www.thebalance.com/us-gdp-by-year-3305543
https://www.thebalance.com/national-debt-by-year-compared-to-gdp-and-major-events-330628
https://www.thebalance.com/u-s-inflation-rate-history-by-year-and-forecast-3306093
https://www.thebalance.com/unemployment-rate-by-year-3305506
Comments
Inflation is the cause for the rise in US GDP from $105 billion in 1929 to 21.48 trillion in 2020. The increase of the federal Debt from $17 billion in 1929 to $26.477 trillion in 2020 was caused by the growth of government over 91 years. The increase in Debt/GDP from 16% in 1929 to 136% in 2020 is due to government’s failure to live within its means.
High Unemployment from 1930 to 1942 was due to drought, farm bankruptcies, high interest rates and low dollar liquidity.
Norb
Leahy, Dunwoody GA Tea Party Leader
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