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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] In 2008, $242 billion was spent on interest payments servicing the debt, out of a total tax revenue of $2.5 trillion, or 9.6%. Including ...
U.S. debt from 1940 to 2011. Red lines indicate the "debt held by the public" and black lines indicate the total national debt or gross public debt. The difference is the intragovernmental debt, which includes obligations to government programs such as Social Security. The top panel shows debt deflated to 2010 dollars; the second panel shows ...
Decreased tax revenue and high spending resulted in an unusually large budget deficit of about $1.4 trillion, well above the $407 billion projected in the FY 2009 budget. [10] A 2009 CBO report indicated that $245 billion, about half of the excess spending, was a result of the 2008 TARP bailouts.
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With all the talk these days about national debts -- the European debt crisis, America's debt-ceiling debacle -- I've been wondering how the U.S.'s debt stacks up against other developed countries'.
[1]: 81 A debt instrument is a financial claim that requires payment of interest and/or principal by the debtor to the creditor in the future. Examples include debt securities (such as bonds and bills), loans, and government employee pension obligations. [1]: 207 Net debt equals gross debt minus financial assets that are debt instruments.
For the first time in history, the U.S. national debt hit $33 trillion in September, per the U.S. Department of the Treasury. ... Typically, the federal government cannot increase the amount of ...
Debts incurred during the American Revolutionary War and under the Articles of Confederation led to the first yearly report on the amount of the debt ($75,463,476.52 on January 1, 1791 [1]). The national debt, as expressed in absolute dollars, has increased under every presidential administration since Herbert Hoover.