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This table lists the U.S. federal debt as a percentage of gross domestic product, or GDP, each year since World War II. [57] The gross federal debt shown below reached 102.7% of GDP at the end of 2012, the most recent figure available; it was the highest percentage since 1945 and the first yearly percentage figure to go over 100% since then.
Between 1950 and 1970, total debt (including government, household, corporate, and financial) was stable at about 150% of GDP. After Nixon did away with what was left of the gold standard in 1971 ...
The United States has the largest external debt in the world. The total number of U.S. Treasury securities held by foreign entities in December 2021 was $7.7 trillion, up from $7.1 trillion in December 2020.Total US federal government debt breached the $30 trillion mark for the first time in history in February 2022. [7]
In 1946, the total US debt-to-GDP ratio was 150%, with two-thirds of that held by the federal government. Since 1946, the federal government's debt-to-GDP ratio has since fallen by nearly half, to 54.8% of GDP in 2009. The debt-to-GDP ratio of the financial sector, by contrast, has increased from 1.35% in 1946 to 109.5% of GDP in 2009.
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.
By 2029, debt as percentage of GDP will exceed the prior record set just after World War II in 1946. CBO projects the federal budget deficit in fiscal year 2025 will be $1.9 trillion. That figure is
"The gap between federal spending and revenues would widen after 2015 under the assumptions of the extended baseline...By 2039, the deficit would equal 6.5% GDP, larger than in any year between 1947 and 2008, and federal debt held by the public would reach 106% of GDP, more than in any year except 1946—even without factoring in the economic ...
At the end of the 1st quarter of 2021, the United States public debt-to-GDP ratio was 127.5%. [4] Two-thirds of US public debt is owned by US citizens, banks, corporations, and the Federal Reserve Bank; [5] approximately one-third of US public debt is held by foreign countries – particularly China and Japan. In comparison, less than 5% of ...