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

-
Legal7 days ago
Shooting at Wilmer-Hutchins High School in Dallas, 4 injured
-
Legal6 days ago
3 people shot after cars exchange fire in Bay City, Michigan
-
World6 days ago
Magnitude 6.6 earthquake strikes remote area of the South Indian Ocean
-
Legal1 week ago
Suspect arrested in arson at Pennsylvania Governor Shapiro’s residence
-
Legal5 days ago
Florida State University shooting leaves 2 dead, 6 injured; suspect shot by police
-
Politics5 days ago
Third senior Pentagon official suspended as leak investigation widens
-
Entertainment5 days ago
Fyre Festival 2 postponed as Mexican officials deny any knowledge of the event
-
World1 week ago
Magnitude 6.5 earthquake strikes remote area of South Pacific; no tsunami threat