What was the national debt in 2010?
What was the total national debt in 2010
At the end of 2010, gross federal debt totaled $13.5 trillion–the $9.0 trillion in debt held by the public plus $4.5 trillion in debt held by government accounts.
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What is the highest national debt ever
These have corresponded with periods when the federal government ran large budget deficits: the Reagan-Bush years of the 1980s and early 1990s; the 2008 financial crisis and subsequent Great Recession; and the pandemic-caused recession of 2023, when federal debt spiked to an all-time high of 134.8% of GDP.
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What was the national debt in 2011
Note
| End of Fiscal Year | Debt (in billions, rounded) | Debt-to-GDP Ratio |
|---|---|---|
| 2010 | $13,562 | 90% |
| 2011 | $14,790 | 95% |
| 2012 | $16,066 | 99% |
| 2013 | $16,738 | 99% |
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What was the national debt over the years
Government Debt in the United States averaged 5316817.26 USD Million from 1942 until 2023, reaching an all time high of 31464457.00 USD Million in May of 2023 and a record low of 60000.00 USD Million in January of 1942.
Has the US ever been debt free
On January 8, 1835, president Andrew Jackson paid off the entire national debt, the only time in U.S. history that has been accomplished.
When was the last time US had no debt
As a result, the U.S. actually did become debt free, for the first and only time, at the beginning of 1835 and stayed that way until 1837. It remains the only time that a major country was without debt. Jackson and his followers believed that freedom from debt was the linchpin in establishing a free republic.
Could the US ever get out of debt
Eliminating the U.S. government's debt is a Herculean task that could take decades. In addition to obvious steps, such as hiking taxes and slashing spending, the government could take a number of other approaches, some of them unorthodox and even controversial. Below are some of these options.
What was the national debt in 2015
The authoritative source for information on U.S. federal debt is Table I of the Treasury Department's Monthly Statement of the Public Debt (MSPD), which reports that on June 30, 2015, total public debt outstanding was about $18.2 trillion.
What was the national debt in 2012
Public debt of the United States from 1990 to 2023 (in billion U.S. dollars)
| Year | National debt (in billion U.S. dollars) |
|---|---|
| '13 | 16,738.18 |
| '12 | 16,066.24 |
| '11 | 14,790.34 |
| '10 | 13,561.62 |
Has the US ever been in debt
The U.S. has had debt since its inception. Our records show that debts incurred during the American Revolutionary War amounted to $75,463,476.52 by January 1, 1791. Over the following 45 years, the debt grew.
Who owes the most debt to the US
Over the past 20 years, Japan and China have owned more US Treasuries than any other foreign nation. Between 2000 and 2023, Japan grew from owning $534 billion to just over $1 trillion, while China's ownership grew from $101 billion to $855 billion.
Did the US ever pay off its debt
By January of 1835, for the first and only time, all of the government's interest-bearing debt was paid off. Congress distributed the surplus to the states (many of which were heavily in debt). The Jackson administration ended with the country almost completely out of debt!
Who does the US owe the biggest debt to
Top 10 territories that own the most U.S. debt
In total, other territories hold about $7.4 trillion in U.S. debt. Japan owns the most at $1.1 trillion, followed by China, with $859 billion, and the United Kingdom at $668 billion.
What happens if the US reaches the debt ceiling
Potential repercussions of reaching the ceiling include a downgrade by credit rating agencies, increased borrowing costs for businesses and homeowners alike, and a dropoff in consumer confidence that could shock the United States' financial market and tip its economy—and the world's—into immediate recession.
When was the last time U.S. was not in debt
As a result, the U.S. actually did become debt free, for the first and only time, at the beginning of 1835 and stayed that way until 1837. It remains the only time that a major country was without debt. Jackson and his followers believed that freedom from debt was the linchpin in establishing a free republic.
What will the national debt be in 2030
Because of the large deficits, federal debt held by the public is projected to grow, from 81 percent of GDP in 2023 to 98 percent in 2030 (its highest percentage since 1946). By 2050, debt would be 180 percent of GDP—far higher than it has ever been (see Chapter 1). The Economy.
What was the US national debt in 2015
Public debt of the United States from 1990 to 2023 (in billion U.S. dollars)
| Year | National debt (in billion U.S. dollars) |
|---|---|
| '15 | 18,150.62 |
| '14 | 17,824.07 |
| '13 | 16,738.18 |
| '12 | 16,066.24 |
What was the US national debt in 2008
Of the Government's total debt of about $10 trillion at the end of FY 2008, approximately $5.8 trillion was debt held by the public in the form of Treasury securities, such as bills, notes, and bonds.
Who owns most of US debt
Domestic Holders of Federal Debt
The Federal Reserve, which purchases and sells Treasury securities as a means to influence federal interest rates and the nation's money supply, is the largest holder of such debt.
What percentage of U.S. debt owned by China
11.9%
Top Foreign Holders of U.S. Debt
| Rank | Country | Share of Total |
|---|---|---|
| 1 | 🇯🇵 Japan | 14.7% |
| 2 | 🇨🇳 China | 11.9% |
| 3 | 🇬🇧 United Kingdom | 8.9% |
| 4 | 🇧🇪 Belgium | 4.8% |