The National Debt Crisis — by Presidency
As of April 2023, the U.S. national debt has reached a record high of more than $31.5 trillion.
Clearly, the government's increasing debt is not a new trend. To see how it got to this point, GOBankingRates analyzed Treasury Department data on public debt from George Washington's presidency through Biden's current term.
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Washington took office in April 1789. However, the Treasury Department's data starts in 1790, when Treasury Secretary Alexander Hamilton estimated that total public debt was $70.1 million and called for the issuance of federal bonds to cover the debt. 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. The country's debt eventually crossed the billion-dollar mark in 1863 during the Civil War and Abraham Lincoln's presidency.
Over a century later, the public debt topped $1 trillion for the first time in 1982 under Ronald Reagan and more than doubled during his presidency -- and it's been climbing steadily since then. Knowing how much the national debt has increased with each president might help inform your decisions in the 2024 presidential race.
George Washington, 1789-1797
1790: $71,060,508.50
1791: $75,463,476.52
1792: $77,227,924.66
1793: $80,358,634.04
1794: $78,427,404.77
1795: $80,747,587.39
1796: $83,762,172.07
1797: $82,064,479.33
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John Adams, 1797-1801
1797: $82,064,479.33
1798: $79,228,529.12
1799: $78,408,669.77
1800: $82,976,294.35
1801: $83,038,050.80
Thomas Jefferson, 1801-1809
1801: $83,038,050.80
1802: $80,712,632.25
1803: $77,054,686.40
1804: $86,427,120.88
1805: $82,312,150.50
1806: $75,723,270.66
1807: $69,218,398.64
1808: $65,196,317.97
1809: $57,023,192.09
James Madison, 1809-1817
1809: $57,023,192.09
1810: $53,173,217.52
1811: $48,005,587.76
1812: $45,209,737.90
1813: $55,962,827.57
1814: $81,487,846.24
1815: $99,833,660.15
1816: $127,334,933.74
1817: $123,491,965.16
James Monroe, 1817-1825
1817: $123,491,965.16
1818: $103,466,633.83
1819: $95,529,648.28
1820: $91,015,566.15
1821: $89,987,427.66
1822: $93,546,676.98
1823: $90,875,877.28
1824: $90,269,777.77
1825: $83,788,432.71
John Quincy Adams, 1825-1829
1825: $83,788,432.71
1826: $81,054,059.99
1827: $73,987,357.20
1828: $67,475,043.87
1829: $58,421,413.67
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Andrew Jackson, 1829-1837
1829: $58,421,413.67
1830: $48,565,406.50
1831: $39,123,191.68
1832: $24,322,235.18
1833: $7,001,698.83
1834: $4,760,082.08
1835: $33,733.05
1836: $37,513.05
1837: $336,957.83
Martin Van Buren, 1837-1841
1837: $336,957.83
1838: $3,308,124.07
1839: $10,434,221.14
1840: $3,573,343.82
1841: $5,250,875.54
William Henry Harrison, 1841
1841: $5,250,875.54
John Tyler, 1841-1845
1841: $5,250,875.54
1842: $13,594,480.73 (Congress changed the beginning of the fiscal year from Jan. 1 to July 1 in 1842.)
1843 (as of Jan. 1): $20,201,226.27
1843 (as of July 1): $32,742,922
1844: $23,461,652.50
1845: $15,925,303.01
James Polk, 1845-1849
1845: $15,925,303.01
1846: $15,550,202.97
1847: $38,826,534.77
1848: $47,044,862.23
1849: $63,061,858.69
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Zachary Taylor, 1849-1850
1849: $63,061,858.69
1850: $63,452,773.55
Millard Fillmore, 1850-1853
1850: $63,452,773.55
1851: $68,304,796.02
1852: $66,199,341.71
1853: $59,803,117.70
Franklin Pierce, 1853-1857
1853: $59,803,117.70
1854: $42,242,222.42
1855: $35,586,956.56
1856: $31,972,537.90
1857: $28,699,831.85
James Buchanan, 1857-1861
1857: $28,699,831.85
1858: $44,911,881.03
1859: $58,496,837.88
1860: $64,842,287.88
1861: $90,580,873.72
Abraham Lincoln, 1861-1865
1861: $90,580,873.72
1862: $524,176,412.13
1863: $1,119,772,138.63
1864: $1,815,784,370.57
1865: $2,680,647,869.74
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Andrew Johnson, 1865-1869
1865: $2,680,647,869.74
1866: $2,773,236,173.69
1867: $2,678,126,103.87
1868: $2,611,687,851.19
1869: $2,588,452,213.94
Ulysses S. Grant, 1869-1877
1869: $2,588,452,213.94
1870: $2,480,672,427.81
1871: $2,353,211,332.32
1872: $2,253,251,328.78
1873: $2,234,482,993.20
1874: $2,251,690,468.43
1875: $2,232,284,531.95
1876: $2,180,395,067.15
1877: $2,205,301,392.10
Rutherford B. Hayes, 1877-1881
1877: $2,205,301,392.10
1878: $2,256,205,892.53
1879: $2,349,567,482.04
1880: $2,120,415,370.63
1881: $2,069,013,569.58
James Garfield, 1881
1881: $2,069,013,569.58
Chester Arthur, 1881-1885
1881: $2,069,013,569.58
1882: $1,918,312,994.03
1883: $1,884,171,728.07
1884: $1,830,528,923.57
1885: $1,863,964,873.14
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Grover Cleveland, 1885-1889
1885: $1,863,964,873.14
1886: $1,775,063,013.78
1887: $1,657,602,592.63
1888: $1,692,858,984.58
1889: $1,619,052,922.23
Benjamin Harrison, 1889-1893
1889: $1,619,052,922.23
1890: $1,552,140,204.73
1891: $1,545,996,591.61
1892: $1,588,464,144.63
1893: $1,545,985,686.13
Grover Cleveland, 1893-1897
1893: $1,545,985,686.13
1894: $1,632,253,636.68
1895: $1,676,120,983.25
1896: $1,769,840,323.40
1897: $1,817,672,665.90
William McKinley, 1897-1901
1897: $1,817,672,665.90
1898: $1,796,531,995.90
1899: $1,991,927,306.92
1900: $2,136,961,091.67
1901: $2,143,326,933.89
Theodore Roosevelt, 1901-1909
1901: $2,143,326,933.89
1902: $2,158,610,445.89
1903: $2,202,464,781.89
1904: $2,264,003,585.14
1905: $2,274,615,063.84
1906: $2,337,161,839.04
1907: $2,457,188,061.54
1908: $2,626,806,271.54
1909: $2,639,546,241.04
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William H. Taft, 1909-1913
1909: $2,639,546,241.04
1910: $2,652,665,838.04
1911: $2,765,600,606.69
1912: 2,868,373,874.16
1913: $2,916,204,913.66
Woodrow Wilson, 1913-1921
1913: $2,916,204,913.66
1914: $2,912,499,269.16
1915: $3,058,136,873.16
1916: $3,609,244,262.16
1917: $5,717,770,279.52
1918: $14,592,161,414
1919: $27,390,970,113.12
1920: $25,952,456,406.16
1921: $23,977,450,552.54
Warren Harding, 1921-1923
1921: $23,977,450,552.54
1922: $22,963,381,708.31
1923: $22,349,707,365.36
Calvin Coolidge, 1923-1929
1923: $22,349,707,365.36
1924: $21,250,812,989.49
1925: $20,516,193,887.90
1926: $19,643,216,315.19
1927: $18,511,906,931.85
1928: $17,604,293,201.43
1929: $16,931,088,484.10
Herbert Hoover, 1929-1933
1929: $16,931,088,484.10
1930: $16,185,309,831.43
1931: $16,801,281,491.71
1932: $19,487,002,444.13
1933: $22,538,672,560.15
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Franklin D. Roosevelt, 1933-1945
1933: $22,538,672,560.15
1934: $27,053,141,414.48
1935: $28,700,892,624.53
1936: $33,778,543,493.73
1937: $36,424,613,732.29
1938: $37,164,740,315.45
1939: $40,439,532,411.11
1940: $42,967,531,037.68
1941: $48,961,443,535.71
1942: $72,422,445,116.22
1943: $136,696,090,329.90
1944: $201,003,387,221.13
1945: $258,682,187,409.93
Harry S. Truman, 1945-1953
1945: $258,682,187,409.93
1946: $269,422,099,173.26
1947: $258,286,383,108.67
1948: $252,292,246,512.99
1949: $252,770,359,860.33
1950: $257,357,352,351.04
1951: $255,221,976,814.93
1952: $259,105,178,785.43
1953: $266,071,061,638.57
Dwight Eisenhower, 1953-1961
1953: $266,071,061,638.57
1954: $271,259,599,108.46
1955: $274,374,222,802.62
1956: $272,750,813,649.32
1957: $270,527,171,896.43
1958: $276,343,217,745.81
1959: $284,705,907,078.22
1960: $286,330,760,848.37
1961: $288,970,938,610.05
John F. Kennedy, 1961-1963
1961: $288,970,938,610.05
1962: $298,200,822,720.87
1963: $305,859,632,996.41
Lyndon Johnson, 1963-1969
1963: $305,859,632,996.41
1964: $311,712,899,257.30
1965: $317,273,898,983.64
1966: $319,907,087,795.48
1967: $326,220,937,794.54
1968: $347,578,406,425.88
1969: $353,720,253,841.41
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Richard Nixon, 1969-1974
1969: $353,720,253,841.41
1970: $370,918,706,949.93
1971: $398,129,744,455.54
1972: $427,260,460,940.50
1973: $458,141,605,312.09
1974: $475,059,815,731.55
Gerald Ford, 1974-1977
1974: $475,059,815,731.55
1975: $533,189,000,000 (Treasury figures rounded to millions)
1976: $620,433,000,000
1977: $698,840,000,000 (Congress changed the beginning of the fiscal year from July 1 to Oct. 1 in 1977)
Jimmy Carter, 1977-1981
1977: $698,840,000,000
1978: $771,544,000,000
1979: $826,519,000,000
1980: $907,701,000,000
1981: $997,855,000,000
Ronald Reagan, 1981-1989
1981: $997,855,000,000
1982: $1,142,034,000,000
1983: $1,377,210,000,000
1984: $1,572,266,000,000
1985: $1,823,103,000,000
1986: $2,125,302,616,658.42
1987: $2,350,276,890,953
1988: $2,602,337,712,041.16
1989: $2,857,430,960,187.32
George H.W. Bush, 1989-1993
1989: $2,857,430,960,187.32
1990: $3,233,313,451,777.25
1991: $3,665,303,351,697.03
1992: $4,064,620,655,521.66
1993: $4,411,488,883,139.38
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William J. Clinton, 1993-2001
1993: $4,411,488,883,139.38
1994: $4,692,749,910,013.32
1995: $4,973,982,900,709.39
1996: $5,224,810,939,135.73
1997: $5,413,146,011,397.34
1998: $5,526,193,008,897.62
1999: $5,656,270,901,615.43
2000: $5,674,178,209,886.86
2001: $5,807,463,412,200.06
George W. Bush, 2001-2009
2001: $5,807,463,412,200.06
2002: $6,228,235,965,597.16
2003: $6,783,231,062,743.62
2004: $7,379,052,696,330.32
2005: $7,932,709,661,723.50
2006: $8,506,973,899,215.23
2007: $9,007,653,372,262.48
2008: $10,024,724,896,912.49
2009: $11,909,829,003,511.75
Barack Obama, 2009-2017
2009: $11,909,829,003,511.75
2010: $13,561,623,030,891.79
2011: $14,790,340,328,557.15
2012: $16,066,241,407,385.89
2013: $16,738,183,526,697.32
2014: $17,824,071,380,733.82
2015: $18,150,617,666,484.33
2016: $19,573,444,713,936.79
2017: $20,244,900,016,053.51
Donald J. Trump, 2017 to 2021
2017: $20,244,900,016,053.51
2018: $21,516,058,183,180.23
2019: $22,719401753433.78
2020: $26,945,391,194,615.15
2021: $28,428,918,570,048.68
Joseph R. Biden, 2021 to Present
2021: $28,428,918,570,048.68
2022 (Most recent as of Sept. 2022): $30,928,911,613,306.73
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This article originally appeared on GOBankingRates.com: The National Debt Crisis — by Presidency
