and yet the facts show otherwise as you well know......the national debt when Obama took office was not $11.9.........I provided the facts from federal data......you aren't smart enough to read graphs,,,,,,
lets see
National debt under Trump
The day President Trump took office, January 20, 2017, the total federal debt was $19.947 trillion. One month after Trump took office, on February 21, 2017, the total federal debt was $19.935 trillion.<a href="
https://ballotpedia.org/Fact_check/Did_federal_debt_fall_over_President_Trump's_first_month_in_office#cite_note-treasury-2">[2]</a><a href="
https://ballotpedia.org/Fact_check/Did_federal_debt_fall_over_President_Trump's_first_month_in_office#cite_note-6">[6]</a> That's a drop of $12 billion.
National debt under Obama
President Barack Obama took office on January 20, 2009, when the national debt was $10.627 trillion. On February 20, 2009, the national debt was $10.839 trillion.<a href="
https://ballotpedia.org/Fact_check/Did_federal_debt_fall_over_President_Trump's_first_month_in_office#cite_note-treasury-2">[2]</a> That's a $212 billion increase.
The U.S. national debt grew to a record $34 trillion by the end of 2023. It was just $16 billion in 1930.
www.thebalancemoney.com
Frequently Asked Questions (FAQs)
Who owns the national debt?
The public holds the
largest portion of the national debt. This includes individuals, corporations, Federal Reserve banks, state and local governments, and foreign governments. A smaller portion of the national debt, known as "intragovernmental debt," is owned by other federal agencies.8
How is the national debt calculated?
The national debt is the total of all outstanding government liabilities owed to the public or to intragovernmental agencies. It includes
Treasury bills, notes, and bonds, as well as Treasury inflation-protected securities (TIPS) and government account series.8
When did the national debt start?
The U.S. has carried a debt ever since its founding in 1776. The country borrowed money to fund the war effort during the
American Revolution.
Updated by
Hilarey Gould
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Sources
09 | $11,910 | 82% | Bailout cost $250B ARRA added $242B |
2010 | $13,562 | 90% | ARRA added $400B, payroll tax holiday ended, Obama Tax cuts, ACA, Simpson-Bowles |
2011 | $14,790 | 95% | Debt crisis, recession and tax cuts reduced revenue |
2012 | $16,066 | 99% | Fiscal cliff |
2013 | $16,738 | 99% | Sequester, government shutdown |
2014 | $17,824 | 101% | QE ended, debt ceiling crisis |
2015 | $18,151 | 100% | Oil prices fell |
2016 | $19,573 | 105% | Brexit |
2017 | $20,245 | 104% | Congress raised the debt ceiling |
2018 | $21,516 | 105% | Trump tax cuts |
2019 | $22,719 | 107% | Trade wars |
2020 | $27,748 | 129% | COVID-19 and 2020 recession |
2021 | $29,617 | 124% | COVID-19 and American Rescue Plan Act |
2022 | $31,420 | 119% | Inflation Reduction Act and student loan forgiveness |
2023 | $34,001 | 122% | Fed raises rates |