End of Fiscal Year
| Debt (as of 9/30, in billions) | Debt/ GDP Ratio | Major Events by Presidential Term | |
|---|---|---|---|
| 1929 | $17 | 16% | Market crash. Depression reduced tax receipts so Hoover raised taxes which worsened depression. Smoot-Hawley tariffs reduced trade. |
| 1930 | $16 | 18% | |
| 1931 | $17 | 22% | |
| 1932 | $19 | 33% | |
| 1933 | $23 | 39% | |
| 1934 | $27 | 40% | FDR's New Deal increased both GDP and debt. |
| 1935 | $29 | 39% | |
| 1936 | $34 | 40% | |
| 1937 | $36 | 39% | |
| 1938 | $37 | 43% | FDR cut spending to balance budget. Depression returned. He increased debt and GDP to prepare for WW2. Depression ended. |
| 1939 | $40 | 43% | |
| 1940 | $51 | 50% | |
| 1941 | $58 | 45% | |
| 1942 | $79 | 48% | US entered WWII. Increased debt and GDP. WW2 end created recession. |
| 1943 | $143 | 70% | |
| 1944 | $204 | 91% | |
| 1945 | $260 | 114% | |
| 1946 | $271 | 119% | Truman's 1st term budgets. Recession as economy adjusted to peacetime. |
| 1947 | $257 | 104% | |
| 1948 | $252 | 92% | |
| 1949 | $253 | 93% | |
| 1950 | $257 | 89% | Truman's 2nd term. Korean War (1950-1953) boosted growth and debt, but created recession when it ended. |
| 1951 | $255 | 74% | |
| 1952 | $259 | 72% | |
| 1953 | $266 | 68% | |
| 1954 | $271 | 70% | Eisenhower's budgets. Recession. Fed raised rates. Worsened recession. |
| 1955 | $274 | 65% | |
| 1956 | $273 | 61% | |
| 1957 | $271 | 57% | |
| 1958 | $276 | 58% | Eisenhower's 2nd term. Recession. |
| 1959 | $285 | 54% | |
| 1960 | $286 | 53% | |
| 1961 | $289 | 52% | |
| 1962 | $298 | 49% | JFK budgets. Cuban Missile Crisis. U.S. aided Vietnam coup. |
| 1963 | $306 | 48% | |
| 1964 | $312 | 46% | |
| 1965 | $317 | 43% | LBJ's budgets. War on Poverty. Vietnam War. Fed raised rates. |
| 1966 | $320 | 40% | |
| 1967 | $326 | 38% | |
| 1968 | $348 | 37% | |
| 1969 | $354 | 35% | |
| 1970 | $371 | 35% | Recession. Wage-price controls. OPEC oil embargo. Nixon ended gold standard. Fed doubled interest rates. Vietnam War ended. |
| 1971 | $398 | 34% | |
| 1972 | $427 | 34% | |
| 1973 | $458 | 32% | |
| 1974 | $475 | 31% | Stagflation. Watergate. |
| 1975 | $533 | 32% | Ford budgets. |
| 1976* | $620 | 33% | |
| 1977 | $699 | 33% | |
| 1978 | $772 | 32% | Carter budgets. Volcker raised rate to 20%. Iran oil embargo. Recession. |
| 1979 | $827 | 31% | |
| 1980 | $908 | 32% | |
| 1981 | $998 | 31% | |
| 1982 | $1,142 | 34% | Reagan budgets from 1st term. Recession. |
| 1983 | $1,377 | 37% | |
| 1984 | $1,572 | 38% | |
| 1985 | $1,823 | 41% | |
| 1986 | $2,125 | 46% | Reagan lowered taxes. S&L Crisis. |
| 1987 | $2,340 | 48% | |
| 1988 | $2,602 | 49% | |
| 1989 | $2,857 | 50% | |
| 1990 | $3,233 | 53% | Bush 41 budgets. Desert Storm. Recession. Debt growth slowed. |
| 1991 | $3,665 | 58% | |
| 1992 | $4,065 | 61% | |
| 1993 | $4,411 | 63% | |
| 1994 | $4,693 | 63% | Clinton budgets. Budget Act reduced deficit spending. |
| 1995 | $4,974 | 64% | |
| 1996 | $5,225 | 64% | |
| 1997 | $5,413 | 62% | |
| 1998 | $5,526 | 60% | Last Clinton budgets. 9/11 attacks. Recession. Bush added $22.9 billion to FY01 budget for War on Terror. |
| 1999 | $5,656 | 58% | |
| 2000 | $5,674 | 54% | |
| 2001 | $5,807 | 54% | |
| 2002 | $6,228 | 56% | First George W. Bush budgets. War on Terror cost $409.2 billion. Bank bailout cost $350 billion. Bush tax cuts. |
| 2003 | $6,783 | 58% | |
| 2004 | $7,379 | 59% | |
| 2005 | $7,933 | 60% | |
| 2006 | $8,507 | 61% | War cost $752.2 billion. Katrina cost $24.7 billion. ARRA added $241.9 billion to FY09 budget. Also, the American Reinvestment Act added another 800 billion to our debt and failed to spend and significant money on infrastructure. ~ editor |
| 2007 | $9,008 | 61% | |
| 2008 | $10,025 | 67% | |
| 2009 | $11,910 ($11,000 on Mar 16 and $12,000 on Nov 16. | 83% | |
| 2010 | $13,562 ($13,000 on Jun 1 and $14,000 on Dec 31. | 90% | Obama Stimulus Act cost $400 billion.This funding bill is not to be confused with the Reinvestment Act. Payroll tax holiday ended. War cost $512.6 billion. Great Recession and tax cuts reduced revenue. Remember: Obama promised 4% GDP by the end of 2010 and labeled the summer of 2010, "The summer of recovery." |
| 2011 | $14,790 ($15,000 on Nov 15) | 95% | |
| 2012 | $16,066 ($16,000 on Aug 31) | 99% | |
| 2013 | $16,738 ($17,000 on Oct 17) | 100% | |
| 2014 | $17,824 ($18,000 on Dec 15) | 102% | War cost $309 billion. QE ended. Strong dollar hurt exports. Note: At no time during the Obama years did the Federal Goverment approve and work off an actual budget . . . that's eight years without a budgent . . . . only CR accommodations year after year after year. ~ editor |
| 2015 | $18,151 | 101% | |
| 2016 | $19,573 ($19,000 on Jan 29) | 105% | |
| 2017 | $20,245 ($20,000 on Sept. 8, 2017.) | 104% | Congress raised debt ceiling. |
| 2018 | $21,478 (est.) | 107% | Trump tax cuts and spending above sequestration. |
| 2019 | $22,703 (est.) | 108% | |
| 2020 | $23,901 (est.) | 108% | |
| 2021 | $25,020 (est.) | 108% |
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