National Debt Tops $ 13 Trillion

The Treasury Department announced yesterday that the nation’s debt had officially passed the $ 13 trillion mark:

The National Debt topped $13-trillion for the first time in U.S. history – reflecting the surge in government spending that will push the Debt to increasing highs through the rest of the decade.

Posted on the Treasury Department website this afternoon, the National Debt hit $13,050,826,460,886.97 as of June 1st.

Tallied against the nation’s Gross Domestic Product, the latest Debt number amounts to nearly 89.4 percent of the total economy.

Some statistics worth noting:

  • The national debt last passed a milestone number on November 17, 2009 when it hit $ 12,000,000,000,000. It took only 198 days for an additional trillion dollars to be added to the national debt.
  • Since Barack Obama took the Oath of Office, the national debt has increased from $ 10,626,877,048,913.08 to $ 13,050,826,460,886.97. That’s an increase of $ 2,423,949,411,973.89 in 499 days, or a rate of $ 4,857,614,052.05 per day since the President took office.
  • Since the beginning of the 2000’s, the national debt has increased by $ 7,274,735,146,661.64, more in a period of ten years than in the previous 211 year history of the Republic.

At the current pace, we can expect to reach $ 14,000,000,000,000 sometime around December 19, 2010.

Nothin’ to see here folks, move along.

FILED UNDER: Barack Obama, Economics and Business, Politicians, 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. Before joining OTB, he wrote at Below The BeltwayThe Liberty Papers, and United Liberty Follow Doug on Twitter | Facebook