Business
U.S. national debt tops $28 trillion for the 1st time

The public debt held by the United States has surpassed $28 trillion for the first time, an increase of nearly four trillion in one year amid a massive surge in government spending due to the coronavirus pandemic.
The total public debt was $28,004,376,276,999.35 on Tuesday, of which $6.1 trillion are intergovernmental holdings and $21.9 trillion is debt held by the public. This is up by a trillion when compared to October 1, when the national debt reached $27 trillion.
The national debt nearly doubled during Barack Obama’s presidency but accelerated even faster under President Donald Trump, in part because of the Republican overhaul of the U.S. tax code in 2017 but also because of the coronavirus pandemic.
The budget deficit reached a record $3.1 trillion in 2020, $2 trillion more than initially forecast.
History of the U.S. national debt
- 1783: $43 million (the first public debt)
- 1800: $82.9 million
- 1835: $0
- The entire public debt was paid off under President Andrew Jackson.
- 1845: $15.9 million
- 1860: $64.8 million (before the Civil War)
- 1865: $2.6 billion (after the Civil War)
- 1893: $1.5 billion
- 1914: $2.9 billion (before World War I)
- 1919: $27.3 billion (after World War I)
- 1930: $16.1 billion
- 1939: $40.4 billion (before World War II)
- 1946: $269.4 billion (after World War II)
- 1963: $305.8 billion
- 1975: $533.1 billion
- 1982: $1 trillion
- 1996: $5 trillion
- 2008: $10 trillion
- 2017: $20 trillion

-
World4 days ago
5 kidnapped band members killed in northern Mexico; cartel suspects arrested
-
World1 week ago
18 people stabbed at Hamburg, Germany train station
-
World1 week ago
Rare tornado damages buildings in southern Chile
-
World6 days ago
5 members of Mexican norteño band missing after performance near Texas border
-
World7 days ago
Multiple casualties after driver strikes crowd in Liverpool, England
-
Legal6 days ago
Illegal immigrant arrested in Texas jet ski crash that killed Ava Moore
-
Health5 days ago
Child dies from H5N1 bird flu in Cambodia; 6th fatal case this year
-
Breaking News17 hours ago
Multiple injured in ‘targeted terror attack’ at Jewish event in Boulder, Colorado