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United States balance of trade (from 1960), with negative numbers denoting a trade deficit; The national debt was up to $80,885 per person as of 2020. [153] The national debt equated to $59,143 per person U.S. population, or $159,759 per member of the U.S. working taxpayers, back in March 2016. [154]
According to the Congressional Budget Office, the United States last had a budget surplus during fiscal year 2001, though the national debt still increased. [47] From fiscal years 2001 to 2009, spending increased by 6.5% of gross domestic product (from 18.2% to 24.7%) while taxes declined by 4.7% of GDP (from 19.5% to 14.8%).
The 1860s were a period of growing protectionism in the United States, while the European free trade phase lasted from 1860 to 1892. The tariff average rate on imports of manufactured goods in 1875 was from 40% to 50% in the United States, against 9% to 12% in continental Europe at the height of free trade. [44]
For more information on the history of the debt ceiling, please click here. ... We hope you'll enjoy the following interactive series of charts on the U.S. debt ceiling from 1917 to the present ...
According to the Peterson Foundation, the debt amounts to a national debt burden of more than $106,000 per person. In December 2023, The Center Square reported the national debt burden had ...
In 1835, the national debt hit a low of $33,733 when Andrew Jackson was president. But the U.S. started borrowing again as the economy entered a recession in 1837.
Graph of world population over the past 12,000 years . As a general rule, the confidence of estimates on historical world population decreases for the more distant past. Robust population data exist only for the last two or three centuries. Until the late 18th century, few governments had ever performed an accurate census.
The U.S. national debt broke a new record after crossing the $36 trillion mark for the first time as the federal government's mounting budget deficits cause the debt to surge.