PRESIDENTS’ DAY 2020. THE LEGACY OF US NATIONAL DEBT

Presidents’ Day 2020. The Legacy of US National Debt.

The national debt stands at $22.72 trillion as of Sept. 30, 2019. This enormous bill didn’t come from nowhere, and it’s safe to say that the U.S. will likely continue borrowing money in the foreseeable future. So, how worried should Americans be about the national debt? There’s not a lot of agreement across the political spectrum on the answer to that question.

$20 bill from 1995. Presidents’ Day 2020. The Legacy of US National Debt. The 42nd US President (Presidential Term January 20, 1993 to January 20, 2001)made an Unjust and Unfair plan to reduce the US National Debt by denying the payment of Social Security and Medicare Benefits to tax paying alien hourly wage workers.

However, understanding why the U.S. borrows money and how different historical events shaped that process is important to any informed voter, especially with another election approaching in November. Knowing how much the federal government borrowed to deal with various issues and events throughout the last century can help you gauge whether each politician’s plans to address the national debt are feasible.

For example, you can note how 1933 saw a marked increase in debt as the new Roosevelt administration broke with the fiscal orthodoxy of the time by employing large deficits to combat the Great Depression. Each recession has correlated with a spike in borrowing, with tax revenues dropping when the needs of the American people were at their highest. All told, tracking the progress of the national debt is a valuable way to understand the U.S. government’s relationship to its people.

Using data from TreasuryDirect and the Bureau of Labor Statistics’ consumer price index inflation calculator, GOBankingRates analyzed the total U.S. national debt from 1900 to present in five-year increments and adjusted the outstanding debt for inflation to provide context in today’s dollars. 

The US Treasury Building in 1900. Presidents’ Day 2020. The Legacy of US National Debt.

1900-1904

  • Outstanding debt in 1900: $2.14 billion
    • Debt adjusted for inflation: $65.37 billion
  • Outstanding debt in 1904: $2.26 billion
    • Debt adjusted for inflation: $65.37 billion

Change in debt between 1900-1904: 5.95%
Change in debt adjusted for inflation: -$4.55 million

$20 U.S. gold certificate from 1905 Presidents’ Day 2020. The Legacy of US National Debt.

1905-1909

  • Outstanding debt in 1905: $2.27 billion
    • Debt adjusted for inflation: $66.42 billion
  • Outstanding debt in 1909: $2.64 billion
    • Debt adjusted for inflation: $74.54 billion

Change in debt between 1905-1909: 16.04%
Change in debt adjusted for inflation: $8.12 billion

William Howard Taft, who was president from 1910-1913. Presidents’ Day 2020. The Legacy of US National Debt.

1910-1914

  • Outstanding debt in 1910: $2.65 billion
    • Debt adjusted for inflation: $71.75 billion
  • Outstanding debt in 1914: $2.91 billion
    • Debt adjusted for inflation: $74.84 billion

Change in debt between 1910-1914: 9.80%
Change in debt adjusted for inflation: $3.09 billion

 U.S. Treasury Building in 1915. Presidents’ Day 2020. The Legacy of US National Debt.

1915-1919

  • Outstanding debt in 1915: $3.06 billion
    • Debt adjusted for inflation: $77.81 billion
  • Outstanding debt in 1919: $27.39 billion
    • Debt adjusted for inflation: $406.87 billion

Change in debt between 1915-1919: 795.68%
Change in debt adjusted for inflation: $329.06 billion

 $5 U.S. silver certificate from 1923. Presidents’ Day 2020. The Legacy of US National Debt.

1920-1924

  • Outstanding debt in 1920: $25.95 billion
    • Debt adjusted for inflation: $333.46 billion
  • Outstanding debt in 1924: $21.25 billion
    • Debt adjusted for inflation: $319.35 billion

Change in debt between 1920-1924: -18.12%
Change in debt adjusted for inflation: -$14.10 billion

Calvin Coolidge, who was president from 1925-1929. Presidents’ Day 2020. The Legacy of US National Debt.

1925-1929

  • Outstanding debt in 1925: $20.52 billion
    • Debt adjusted for inflation: $301.26 billion
  • Outstanding debt in 1929: $16.93 billion
    • Debt adjusted for inflation: $254.44 billion

Change in debt between 1925-1929: -17.47%
Change in debt adjusted for inflation: -$46.83 billion

Pageant in front of the U.S. Treasury Building in 1930. Presidents’ Day 2020. The Legacy of US National Debt.

1930-1934

  • Outstanding debt in 1930: $16.19 billion
    • Debt adjusted for inflation: $249.05 billion
  • Outstanding debt in 1934: $27.05 billion
    • Debt adjusted for inflation: $518.80 billion

Change in debt between 1930-1934: 67.15%
Change in debt adjusted for inflation: $269.75 billion

$1 U.S. silver certificate from 1935. Presidents’ Day 2020. The Legacy of US National Debt.

1935-1939

  • Outstanding debt in 1935: $28.70 billion
    • Debt adjusted for inflation: $538.35 billion
  • Outstanding debt in 1939: $40.44 billion
    • Debt adjusted for inflation: $747.62 billion

Change in debt between 1935-1939: 40.90%
Change in debt adjusted for inflation: $209.27 billion

US Treasury Building in 1941. Presidents’ Day 2020. The Legacy of US National Debt.

1940-1944

  • Outstanding debt in 1940: $42.97 billion
    • Debt adjusted for inflation: $788.68 billion
  • Outstanding debt in 1944: $201.00 billion
    • Debt adjusted for inflation: $2.93 trillion

Change in debt between 1940-1944: 367.80%
Change in debt adjusted for inflation: $2.15 trillion

Harry S. Truman, who was president from 1945-1949. Presidents’ Day 2020. The Legacy of US National Debt.

1945-1949

  • Outstanding debt in 1945: $258.68 billion
    • Debt adjusted for inflation: $3.69 trillion
  • Outstanding debt in 1949: $252.77 billion
    • Debt adjusted for inflation: $2.73 trillion

Change in debt between 1945-1949: -2.29%
Change in debt adjusted for inflation: -$963.81 billion

$10 U.S. silver certificate from 1953. Presidents’ Day 2020.The Legacy of US National Debt.

1950-1954

  • Outstanding debt in 1950: $257.36 billion
    • Debt adjusted for inflation: $2.74 trillion
  • Outstanding debt in 1954: $271.26 billion
    • Debt adjusted for inflation: $2.59 trillion

Change in debt between 1950-1954: 5.40%
Change in debt adjusted for inflation: -$152.83 billion

The increase in national debt from 1950-1954 was outpaced by inflation, so the value of the dollar decreased faster than the rate at which the national debt grew.

$1 U.S. silver certificate from 1957. Presidents’ Day 2020. The Legacy of US National Debt.

1955-1959

  • Outstanding debt in 1955: $274.37 billion
    • Debt adjusted for inflation: $2.63 trillion
  • Outstanding debt in 1959: $284.71 billion
    • Debt adjusted for inflation: $2.51 trillion

Change in debt between 1955-1959: 3.77%
Change in debt adjusted for inflation: -$116.70 billion

The increase in national debt from 1955-1959 was outpaced by inflation, so the value of the dollar decreased faster than the rate at which the national debt grew.

John F. Kennedy, who was president from 1961-1963. Presidents’ Day 2020. The Legacy of US National Debt.

1960-1964

  • Outstanding debt in 1960: $286.33 billion
    • Debt adjusted for inflation: $2.49 trillion
  • Outstanding debt in 1964: $311.71 billion
    • Debt adjusted for inflation: $2.58 trillion

Change in debt between 1960-1964: 8.86%
Change in debt adjusted for inflation: $98.14 billion

Lyndon B. Johnson, who was president from 1965-1969. Presidents’ Day 2020. The Legacy of US National Debt.

1965-1969

  • Outstanding debt in 1965: $317.27 billion
    • Debt adjusted for inflation: $2.59 trillion
  • Outstanding debt in 1969: $353.72 billion
    • Debt adjusted for inflation: $2.48 trillion

Change in debt between 1965-1969: 11.49%
Change in debt adjusted for inflation: -$111.54 billion

The increase in national debt from 1965-1969 was outpaced by inflation, so the value of the dollar decreased faster than the rate at which the national debt grew.

Gas ration stamps being printed by the U.S. Bureau of Engraving and Printing as a result of the 1973 oil crisis. Presidents’ Day 2020. The Legacy of US National Debt.

1970-1974

  • Outstanding debt in 1970: $370.92 billion
    • Debt adjusted for inflation: $2.46 trillion
  • Outstanding debt in 1974: $475.06 billion
    • Debt adjusted for inflation: $2.48 trillion

Change in debt between 1970-1974: 28.08%
Change in debt adjusted for inflation: $19.62 billion

Specially stamped bicentennial $2 bill from 1976. Presidents’ Day 2020. The Legacy of US National Debt.

1975-1979

  • Outstanding debt in 1975: $533.19 billion
    • Debt adjusted for inflation: $2.55 trillion
  • Outstanding debt in 1979: $826.52 billion
    • Debt adjusted for inflation: $2.93 trillion

Change in debt between 1975-1979: 55.01%
Change in debt adjusted for inflation: $378.78 billion

US Treasury Building in 1980. Presidents’ Day 2020. The Legacy of US National Debt.

1980-1984

  • Outstanding debt in 1980: $907.70 billion
    • Debt adjusted for inflation: $2.83 trillion
  • Outstanding debt in 1984: $1.57 trillion
    • Debt adjusted for inflation: $3.89 trillion

Change in debt between 1980-1984: 73.21%
Change in debt adjusted for inflation: $1.06 trillion

Senior citizens in a retirement home watching the 1987 stock market crash. Presidents’ Day 2020. The Legacy of US National Debt,

1985-1989

  • Outstanding debt in 1985: $1.82 trillion
    • Debt adjusted for inflation: $4.35 trillion
  • Outstanding debt in 1989: $2.86 trillion
    • Debt adjusted for inflation: $5.92 trillion

Change in debt between 1985-1989: 56.73%
Change in debt adjusted for inflation: $1.57 trillion

George H.W. Bush, who was president from 1990-1993. Presidents’ Day 2020. The Legacy of US National Debt.

1990-1994

  • Outstanding debt in 1990: $3.23 trillion
    • Debt adjusted for inflation: $6.36 trillion
  • Outstanding debt in 1994: $4.69 trillion
    • Debt adjusted for inflation: $8.14 trillion

Change in debt between 1990-1994: 45.14%
Change in debt adjusted for inflation: $1.78 trillion

William Jefferson Clinton was the US President from January 20, 1993 to January 20, 2001. Presidents’ Day 2020. The Legacy of US National Debt.

1995-1999

  • Outstanding debt in 1995: $4.97 trillion
    • Debt adjusted for inflation: $8.39 trillion
  • Outstanding debt in 1999: $5.66 trillion
    • Debt adjusted for inflation: $8.72 trillion

Change in debt between 1995-1999: 13.72%
Change in debt adjusted for inflation: $337.54 billion

42nd US President ( Presidential term from January 1993 to January 2001. Bill Clinton did not Balance the US Budget. Presidents’ Day 2020. The Legacy of US National Debt.

2000-2004

  • Outstanding debt in 2000: $5.67 trillion
    • Debt adjusted for inflation: $8.47 trillion
  • Outstanding debt in 2004: $7.38 trillion
    • Debt adjusted for inflation: $10.04 trillion

Change in debt between 2000-2004: 30.05%
Change in debt adjusted for inflation: $1.57 trillion

Barack Obama, who was inaugurated as the 44th U.S. president in 2009. Presidents’ Day 2020. The Legacy of US National Debt.

2005-2009

  • Outstanding debt in 2005: $7.93 trillion
    • Debt adjusted for inflation: $10.44 trillion
  • Outstanding debt in 2009: $11.91 trillion
    • Debt adjusted for inflation: $14.27 trillion

Change in debt between 2005-2009: 50.14%
Change in debt adjusted for inflation: $3.83 trillion

Occupy Wall Street protests in 2011. Presidents’ Day 2020. The Legacy of US National Debt.

2010-2014

  • Outstanding debt in 2010: $13.56 trillion
    • Debt adjusted for inflation: $15.98 trillion
  • Outstanding debt in 2014: $17.82 trillion
    • Debt adjusted for inflation: $19.35 trillion

Change in debt between 2010-2014: 31.43%
Change in debt adjusted for inflation: $3.37 trillion

Current US Treasury Building. Presidents’ Day 2020. The Legacy of US National Debt.

2015-2019

  • Outstanding debt in 2015: $18.15 trillion
    • Debt adjusted for inflation: $19.68 trillion
  • Outstanding debt in 2019: $22.72 trillion
    • Debt adjusted for inflation: $22.84 trillion

Change in debt between 2015-2019: 25.17%
Change in debt adjusted for inflation: $3.16 trillion

Presidents’ Day 2020. The Legacy of US National Debt.

Published by Bhavanajagat

Whole Man - Whole Theory: "I am Consciousness, Therefore I am" is my proposition to examine the reality of Man and the World in which he exists.

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