$8,094,858,367,754.09 In Ten Years

That’s the amount by which the National Debt has increased in the past ten years:

That comes out to an average increase of $809,485,836,775.41 per year, $67,457,153,064.62 per month, $2,216,251,435.39 per day, $92,343,809.81 per hour, and $1,539,063.50. If we were to match this pace over the coming decade, that would put the National Debt at over $ 22 trillion by December 2020, if we don’t get their sooner.

Figures obtained via the Treasury Department’s Debt To The Penny Calculator

FILED UNDER: Economics and Business, Quick Takes, US Politics
Doug Mataconis
About Doug Mataconis
Doug holds a B.A. in Political Science from Rutgers University and J.D. from George Mason University School of Law. He joined the staff of OTB in May 2010 and contributed a staggering 16,483 posts before his retirement in January 2020.

Comments

  1. Bob in Zion says:

    Except it hasn’t been a linear rise. If we keep going at the current rate we’ll hit that 20 Trillion in about 2016 or 2017.

  2. T says:

    Not nearly enough information here – for example is this comparision in “Real” dollars or dollars held constant for inflation? I wonder what this would look like as a percentage of GDP? My guess is that view is far less flashy.

  3. rjs says:

    i dont think your error was intentional, but dont you mean 11 years?

  4. steveegg says:

    There’s so many ways to slice it, all of it bad (and all debt numbers are in current dollars, T)…

    Debt at the end of 2000 (12/29) – $5.66 trillion total (includes both publicly-held debt and “intragovernmental” debt, such as the SocSecurity “Trust Funds”), on a 4Q2000 GDP of $10.13 trillion in current dollars and $11.33 trillion in chained 2005 dollars.

    Debt at the end of 2001 (12/31) – $3.39 trillion publicly held (data not broken out in 2000) and $5.94 trillion total, on a 4Q2001 GDP of $10.37 trillion in current dollars and $11.38 trillion in chained 2005 dollars.

    Debt at the end of 2004 (12/31) – $4.41 trillion publicly held and $7.60 trillion total, on a 4Q2004 GDP of $12.14 trillion in current dollars and $12.41 billion in chained 2005 dollars.

    Debt at the end of 2006 (12/29) – $4.90 trillion publicly held and $8.68 trillion total, on a 4Q2006 GDP of $13.61 trillion in current dollars and $13.06 trillion in chained 2005 dollars.

    Debt at the end of 2008 (12/31) – $6.37 trillion publicly held and $10.70 trillion total, on a 4Q2008 GDP of $14.19 trillion in current dollars and $12.99 trillion in chained 2005 dollars.

    Debt on the second-last day of 2010 (12/30) – $9.33 trillion publicly held and $13.87 trillion total, on a preliminary 3Q2010 GDP of $14.75 trillion in current dollars and $13.28 trillion in chained 2005 dollars.

    In short, 6 years of at least 2/3rds Republican rule added $3.02 trillion in total debt and, over 5 years, $1.51 trillion in publicly-held debt. 4 years of Pelosi-Reid rule in Congress added $4.43 trillion in publicly-held debt and $4.6 trillion in total debt, with $2.96 trillion in publicly-held debt and $2.58 trillion in total debt coming in the two calendar years of complete Democrat rule.

    Of note, the reason the gap between publicly-held debt and total debt is shrinking is because the various programs that have “Trust Funds” (i.e. intragovernmental debt, such as SocSecurity) are paying out more money than they take in, both in the dedicated revenue streams and in the “interest” said “Trust Funds” earn.

  5. Herb says:

    “In short, 6 years of at least 2/3rds Republican rule added $3.02 trillion in total debt and, over 5 years, $1.51 trillion in publicly-held debt. 4 years of Pelosi-Reid rule in Congress added $4.43 trillion in publicly-held debt and $4.6 trillion in total debt, with $2.96 trillion in publicly-held debt and $2.58 trillion in total debt coming in the two calendar years of complete Democrat rule.”

    Any more I find discussions about who is responsible for the debt as predictable as they are unproductive.

    “You caused more debt than me.”
    “No, I didn’t.”
    “Yes, you did.”
    “Nut uh.”
    “Uh huh.”
    “Nope.”
    “Yep.”
    “Liar.”
    “Debt-causer.”
    “I know you are, but what am I?”

    Which one’s the Republican and which one’s the Dem? Doesn’t matter. Neither party have been very good stewards of the country’s books. It’s just a fact.

    I will say this, though. When liberals vote for Democrats, we have no illusions about their fiscal acumen. Can’t say that about GOP voters, who for some reason seem to believe their party is “fiscally responsible” despite all evidence to the contrary.

  6. steveegg says:

    Herb, what part of “all of it bad” did you not understand?