Friday, January 26, 2024

US National Debt by Year 12624

https://www.thebalancemoney.com/national-debt-by-year-compared-to-gdp-and-major-events-3306287 

From 1929 to 2022, the National Debt grew from $17Billion to $30.8Trillion. The debt came from wars in WW2, Cold War. Korea, Vietnam, Afghanistan and Iraq. More debt came from Medicare, Welfare, Illegal immigration, refugees, climate change spending and Covid19. 

FY       $Debt  %Debt to GDP

1929      17B     16  Hoover

1930      16B     17

1931      17B     22

1932      20B     34

1933      23B     40 Roosevelt

1934      27B     40

1935      29B     39

1936      34B     40

1939      40B     51

1940      43B     49

1941      49B     44

1942      72B     48  WW2

1943     137B    70

1944     201B    91

1945     259B  114 

1946     269B  119 Truman

1947     258B  103

1948     252B    92

1949     253B    93

1950     257B    86 Korea

1951     255B    74

1952     259B    71

1953     266B    68 Eisenhower

1954     271B    69

1955     274B    64

1956     273B    61

1957     271B    57

1958     276B    58

1959     285B    55

1960     286B    54

1961     289B    52 Kennedy

1962     298B    50

1963     306B    48 Johnson

1964     312B    46 Medicare

1965     317B    43 Vietnam

1966     320B    40 Welfare

1967     326B    40

1968     348B    39

1969     354B    36 Nixon

1970     371B    35

1971     398B    35

1972     427B    34

1973     458B    33

1974     475B    31 Ford

1975     533B    32

1976     620B    33

1977     699B    34 Carter

1978     772B    33

1979     827B    32

1980     908B    32

1981     998B    31 Reagan

1982   1.142T   34

1983   1.377T   37

1984   1.572T   38

1985   1.823T   41

1986   2.125T   46

1987   2.350T   48

1988   2.602T   50 Cold War ends

1989   2.857T   51 Bush 1

1990   3.233T   54 Iraq/Kuwait War

1991   3.665T   58 UN Agenda 21

1992   4.065T   61

1993   4.411T   63 Clinton

1994   4.693T   64

1995   4.974T   64

1996   5.225T   64

1997   5.413T   63

1998   5.526T   60

1999   5.656T   58

2000   5.674T   55

2001   5.807T   55 Bush 2

2002   6.228T   57 Afghanistan War

2003   6.783T   59 Iraq War 2

2004   7.379T   60

2005   7.933T   61

2006   8.507T   61

2007   9.008T   68

2008  10.025T  68 Mortgage meltdown

2009  11.910T  82 Obama

2010  13.562T  90

2011  14.790T  95

2012  16.066T  99

2013  16.738T  99

2014  17.824T 101

2015  18.151T 100

2016  19 573T 105

2017  20.245T 104 Trump

2018  21.516T 105 Tax cuts

2019  22.719T 107 Tariffs

2020  26,945T 124 Covid

2021  28,428T 129 Biden

2022  30.928T 122

2023  33.167T 118

https://www.thebalancemoney.com/national-debt-by-year-compared-to-gdp-and-major-events-3306287

https://tradingeconomics.com/united-states/government-debt-to-gdp

https://www.investopedia.com/us-national-debt-by-year-7499291

Comments

The US National Debt explosion began in 2000

George W Bush doubled the National Debt from $5.6T to $10.0T

Barak Obama doubled the National Debt again from 10.0T to 19.5T

Donald Trump moved the National Debt from 19.5T to 22.7T and Covid moved it from 22.7T to 26.9T

Joe Biden moved the National Debt from 26.9T to $33.2T

Excessive US Federal spending stems from national defense in necessary wars like WW2 and Isis.

Military Foreign Aid funds unnecessary wars like Vietnam and most other wars.

Norb Leahy, Dunwoody GA Tea Party Leader

 

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