The Public Debt to the Penny
Government Exceeds Debt Ceiling!
For the first time in history on October 1st, 2004; the Bush Administration exceeded its legal borrowing authority. For the third time in a four year term, President Bush has exceeded the borrowing limit passed by a Republican Congress; although they did not release that specific information until October 14th, the next day AFTER the last televised debate. Congress had not brought up the debt ceiling either, hoping to hide from this issue during the election - It is expected to raise the debt ceiling within 3 days after the election. Until then the administration is taking money out of Federal Employees Pension funds and other accounting tricks to avoid "legally" reaching the debt limit - although the federal debt-to-the-penny listed the amount as higher than the limit on October 1st and everyday after.
Federal deficit sets new record
The federal deficit surged to a record $413 billion in 2004, injecting the figure into a presidential campaign in which the two parties have clashed over President Bush's management of the economy and the budget. The final deficit figure easily surpassed the previous record in dollar terms - a revised $377 billion deficit that was run up last year. This is in contrast to the $236.4 Billion SURPLUS in Bill Clintons last year as President (2000).
Source: Bureau of Labor Statistics; Office of Management and Budget.
Federal Budget surpluses or deficits in billions of dollars
Bush/Quayle
1989 -152.5
1990 -221.2
1991 -269.3
1992 -290.4
Clinton/Gore
1993 -255.1
1994 -203.2
1995 -164.0
1996 -107.5
1997 -22.2
1998 69.2 SURPLUS!
1999 125.6
2000 236.4
Bush/Cheney
2001 127.4
2002 -157.8 DEFICIT!
2003 -375.3 !! Record deficit in the history of the US!!
2004 -413 !! Record deficit in the history of the US!!
US ends 2003 with highest per-household outlay since World War II
Congress ended its 2003 session with a vote on an $820 billion appropriations bill, capping two years of record-level spending that economists say has raised the per-household outlay to its highest since World War II.
Government spending has increased by 16 percent in the last two years, compared with an average of 3.5 percent a year during the 1990s. The recent passage of a $396 billion Medicare expansion and overhaul bill is expected to drive spending even higher in future years.( editor's note: The figure was raised to $531 Billion when the administration admitted, after the vote, that they had higher numbers but prevented the accountant who knew the true numbers from testifying to Congress.)
The conservative Heritage Foundation said this Congress's spending increases went well beyond outlays for defense and homeland security: Subtracting those, spending still went up 11 percent over the past two years. "It's always easy to be generous with other people's money," said Brian M. Riedl. Riedl found that per-household spending this year reached $20,000 in inflation-adjusted dollars for the first time since World War II -- a trend he said makes a tax increase nearly inevitable. "People haven't felt the pain yet because . . . spending has been financed by budget deficits," he said.
The Center for Budget and Policy Priorities arrived at similar conclusions. Looking at "discretionary spending" -- appropriations that exclude entitlement programs such as Social Security and Medicare, whose payments are largely out of the control of the president -- spending in inflation-adjusted dollars has increased 8.7 percent a year under the current administration. That's up from an average of 4.2 percent a year in the last three years of the Clinton administration, CBPP economist Richard Kogan said. "What you're seeing is real increases that are more than twice as fast in the first three years under Bush than under the last three years of Clinton, even though Bush has deficits and Clinton had surpluses," Kogan said.
The government hit the new $7.4 trillion limit on the national debt on October 1st, 2004. President Bush signed a bill in 2003 allowing a record $984 billion increase in the amount the federal government can borrow. It marked the second increase in the debt ceiling in roughly a year. In June 2002, the debt ceiling was increased by $450 billion to $6.4 trillion.
How do you make a contribution to reduce the debt?
Please follow these important steps to make a contribution to reduce the debt. -
Make check payable to the "Bureau of the Public Debt"
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In the memo section of the check, make sure you write "Gift to reduce the Debt Held by the Public "
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3. Mail check to -
ATTN DEPT G
BUREAU OF THE PUBLIC DEBT
P O BOX 2188
PARKERSBURG, WV 26106-2188
U.S. current account deficit and budget deficits combined,
as percentage of GDP |
| Year |
Combined deficits |
| 2003 | 8.4% |
| 2002 | 6.1% |
| 2001 | 2.6% |
| 2000 | 1.8% |
| 1999 | 1.8% |
| 1998 | 1.5% |
| 1997 | 1.8% |
| 1996 | 2.9% |
| 1995 | 3.7% |
| 1994 | 4.6% |
| Sources: Bureau of Economic Analysis, Congressional Budget Office |
The budget deficit as a percentage of gross domestic product in 2004 was the highest in a decade and is expected to climb again this year.
| Current FY 2005 | Debt Amount | Current Interest expense |
| 01/05/2005 | $ 7,601,702,269,584.12 | $ 120,248,160,823.07 THIS FISCAL YEAR |
The estimated population of the United States is 295,313,357 so each citizen's share of this debt is $25,741.14
|
| Prior Months | Debt Amount | Interest expense |
| 12/31/2004 | $7,596,165,867,424.14 | $ 86,911,985,029.30 |
| 11/30/2004 | $7,525,209,508,979.45 | $ 19,600,784,337.15 |
| 10/30/2004 | Invalid (see note) | $ 13,735,391,456.62 |
| NOTE: false amounts were used to cover the fact that the debt ceiling had been exceeded by the Bush administration, see link below |
| 09/30/2004 | $7,379,052,696,330.32 | $ 12,531,756,824.51 |
| 08/31/2004 | $7,350,950,234,630.15 | $ 18,988,722,254.18 |
| 07/30/2004 | $7,316,567,571,232.89 | $ 15,097,639,601.03 |
| 06/30/2004 | $7,274,334,972,199.15 | $ 84,468,634,709.08 |
| 05/28/2004 | $7,196,382,805,621.99 | $ 20,432,938,610.90 |
| 04/30/2004 | $7,133,789,490,581.43 | $ 12,755,485,706.79 |
| 03/31/2004 | $7,131,067,950,647.32 | $ 14,096,687,261.36 |
| 02/27/2004 | $7,091,943,110,094.84 | $ 15,150,706,352.06 |
| 01/30/2004 | $7,009,234,605,728.06 | $ 13,004,064,259.60 |
| 12/31/2003 | $7,001,312,247,818.28 | $ 82,435,960,974.56 |
| 11/28/2003 | $6,925,065,499,881.34 | $ 19,292,044,501.20 |
| 10/31/2003 | $6,872,675,839,106.67 | $ 13,311,682,915.94 |
|
| 09/29/2003 | $6,782,571,483,956.97 | $318,148,529,151.51 |
| 09/30/2002 | $6,228,235,965,597.16 | $332,536,958,599.42 |
| 09/28/2001 | $5,807,463,412,200.06 | $359,507,635,242.41 |
| 09/30/2000 | $5,674,178,209,886.86 | $361,997,734,302.36 |
| 09/30/1999 | $5,656,270,901,615.43 | $353,511,471,722.87 |
| 09/30/1998 | $5,526,193,008,897.62 | $363,823,722,920.26 |
| 09/30/1997 | $5,413,146,011,397.34 | $355,795,834,214.66 |
| 09/30/1996 | $5,224,810,939,135.73 | $343,955,076,695.15 |
| 09/29/1995 | $4,973,982,900,709.39 | $332,413,555,030.62 |
| 09/30/1994 | $4,692,749,910,013.32 | $296,277,764,246.26 |
| 09/30/1993 | $4,411,488,883,139.38 | $292,502,219,484.25 |
| 09/30/1992 | $4,064,620,655,521.66 | $292,361,073,070.74 |
| 09/30/1991 | $3,665,303,351,697.03 | $286,021,921,181.04 |
| 09/28/1990 | $3,233,313,451,777.25 | $264,852,544,615.90 |
| 09/29/1989 | $2,857,430,960,187.32 | $240,863,231,535.71 |
| 09/30/1988 | $2,602,337,712,041.16 | $214,145,028,847.73 |
| 09/30/1987 | $2,350,276,890,953.00 | There are no further |
| 09/30/1986 | $2,125,302,616,658.42 | Interest Amounts |
| 12/31/1985 | $1,945,941,616,459.88 | on Record at the site |
| 12/31/1984 | $1,662,966,000,000.00 * | http://www.publicdebt.treas.gov/opd/opdint.php |
| 12/31/1983 | $1,410,702,000,000.00 * | |
| 12/31/1982 | $1,197,073,000,000.00 * | |
| 12/31/1981 | $1,028,729,000,000.00 * | |
| 12/31/1980 | $ 930,210,000,000.00 * | |
| 12/31/1979 | $ 845,116,000,000.00 * | |
| 12/29/1978 | $ 789,207,000,000.00 * | |
| 12/30/1977 | $ 718,943,000,000.00 * | |
| 12/31/1976 | $ 653,544,000,000.00 * | |
| 12/31/1975 | $ 576,649,000,000.00 * | |
| 12/31/1974 | $ 492,665,000,000.00 * | |
| 12/31/1973 | $ 469,898,039,554.70 | |
| 12/29/1972 | $ 449,298,066,119.00 | |
| 12/31/1971 | $ 424,130,961,959.95 | |
| 12/31/1970 | $ 389,158,403,690.26 | |
| 12/31/1969 | $ 368,225,581,254.41 | |
| 12/31/1968 | $ 358,028,625,002.91 | |
| 12/29/1967 | $ 344,663,009,745.18 | |
| 12/30/1966 | $ 329,319,249,366.68 | |
| 12/31/1965 | $ 320,904,110,042.04 | |
| 12/31/1964 | $ 317,940,472,718.38 | |
| 12/31/1963 | $ 309,346,845,059.17 | |
| 12/31/1962 | $ 303,470,080,489.27 | |
| 12/29/1961 | $ 296,168,761,214.92 | |
| 12/30/1960 | $ 290,216,815,241.68 | |
| 12/31/1959 | $ 290,797,771,717.63 | |
| 12/31/1958 | $ 282,922,423,583.87 | |
| 12/31/1957 | $ 274,897,784,290.72 | |
| 12/31/1956 | $ 276,627,527,996.11 | |
| 12/30/1955 | $ 280,768,553,188.96 | |
| 12/31/1954 | $ 278,749,814,391.33 | |
| 12/31/1953 | $ 275,168,120,129.39 | |
| 06/30/1953 | $ 266,071,061,638.57 | |
| 06/30/1952 | $ 259,105,178,785.43 | |
| 06/29/1951 | $ 255,221,976,814.93 | |
| 06/30/1950 | $ 257,357,352,351.04 | |
| 06/30/1949 | $ 252,770,359,860.33 | |
| 06/30/1948 | $ 252,292,246,512.99 | |
| 06/30/1947 | $ 258,286,383,108.67 | |
| 06/28/1946 | $ 269,422,099,173.26 | |
| 06/30/1945 | $ 258,682,187,409.93 | |
| 06/30/1944 | $ 201,003,387,221.13 | |
| 06/30/1943 | $ 136,696,090,329.90 | |
| 06/30/1942 | $ 72,422,445,116.22 | |
| 06/30/1941 | $ 48,961,443,535.71 | |
| 06/29/1940 | $ 42,967,531,037.68 | |
| 06/30/1939 | $ 40,439,532,411.11 | |
| 06/30/1938 | $ 37,164,740,315.45 | |
| 06/30/1937 | $ 36,424,613,732.29 | |
| 06/30/1936 | $ 33,778,543,493.73 | |
| 06/29/1935 | $ 28,700,892,624.53 | |
| 06/30/1934 | $ 27,053,141,414.48 | |
| 06/30/1933 | $ 22,538,672,560.15 | |
| 06/30/1932 | $ 19,487,002,444.13 | |
| 06/30/1931 | $ 16,801,281,491.71 | |
| 06/30/1930 | $ 16,185,309,831.43 | |
| 06/29/1929 | $ 16,931,088,484.10 | |
| 06/30/1928 | $ 17,604,293,201.43 | |
| 06/30/1927 | $ 18,511,906,931.85 | |
| 06/30/1926 | $ 19,643,216,315.19 | |
| 06/30/1925 | $ 20,516,193,887.90 | |
| 06/30/1924 | $ 21,250,812,989.49 | |
| 06/30/1923 | $ 22,349,707,365.36 | |
| 06/30/1922 | $ 22,963,381,708.31 | |
| 06/30/1921 | $ 23,977,450,552.54 | |
| 07/01/1920 | $ 25,952,456,406.16 | |
| 07/01/1919 | $ 27,390,970,113.12 | |
| 07/01/1918 | $ 14,592,161,414.00 | |
| 07/01/1917 | $ 5,717,770,279.52 | |
| 07/01/1916 | $ 3,609,244,262.16 | |
| 07/01/1915 | $ 3,058,136,873.16 | |
| 07/01/1914 | $ 2,912,499,269.16 | |
| 07/01/1913 | $ 2,916,204,913.66 | |
| 07/01/1912 | $ 2,868,373,874.16 | |
| 07/01/1911 | $ 2,765,600,606.69 | |
| 07/01/1910 | $ 2,652,665,838.04 | |
| 07/01/1909 | $ 2,639,546,241.04 | |
| 07/01/1908 | $ 2,626,806,271.54 | |
| 07/01/1907 | $ 2,457,188,061.54 | |
| 07/01/1906 | $ 2,337,161,839.04 | |
| 07/01/1905 | $ 2,274,615,063.84 | |
| 07/01/1904 | $ 2,264,003,585.14 | |
| 07/01/1903 | $ 2,202,464,781.89 | |
| 07/01/1902 | $ 2,158,610,445.89 | |
| 07/01/1901 | $ 2,143,326,933.89 | |
| 07/01/1900 | $ 2,136,961,091.67 | |
| 07/01/1899 | $ 1,991,927,306.92 | |
| 07/01/1898 | $ 1,796,531,995.90 | |
| 07/01/1897 | $ 1,817,672,665.90 | |
| 07/01/1896 | $ 1,769,840,323.40 | |
| 07/01/1895 | $ 1,676,120,983.25 | |
| 07/01/1894 | $ 1,632,253,636.68 | |
| 07/01/1893 | $ 1,545,985,686.13 | |
| 07/01/1892 | $ 1,588,464,144.63 | |
| 07/01/1891 | $ 1,545,996,591.61 | |
| 07/01/1890 | $ 1,552,140,204.73 | |
| 07/01/1889 | $ 1,619,052,922.23 | |
| 07/01/1888 | $ 1,692,858,984.58 | |
| 07/01/1887 | $ 1,657,602,592.63 | |
| 07/01/1886 | $ 1,775,063,013.78 | |
| 07/01/1885 | $ 1,863,964,873.14 | |
| 07/01/1884 | $ 1,830,528,923.57 | |
| 07/01/1883 | $ 1,884,171,728.07 | |
| 07/01/1882 | $ 1,918,312,994.03 | |
| 07/01/1881 | $ 2,069,013,569.58 | |
| 07/01/1880 | $ 2,120,415,370.63 | |
| 07/01/1879 | $ 2,349,567,482.04 | |
| 07/01/1878 | $ 2,256,205,892.53 | |
| 07/01/1877 | $ 2,205,301,392.10 | |
| 07/01/1876 | $ 2,180,395,067.15 | |
| 07/01/1875 | $ 2,232,284,531.95 | |
| 07/01/1874 | $ 2,251,690,468.43 | |
| 07/01/1873 | $ 2,234,482,993.20 | |
| 07/01/1872 | $ 2,253,251,328.78 | |
| 07/01/1871 | $ 2,353,211,332.32 | |
| 07/01/1870 | $ 2,480,672,427.81 | |
| 07/01/1869 | $ 2,588,452,213.94 | |
| 07/01/1868 | $ 2,611,687,851.19 | |
| 07/01/1867 | $ 2,678,126,103.87 | |
| 07/01/1866 | $ 2,773,236,173.69 | |
| 07/01/1865 | $ 2,680,647,869.74 | |
| 07/01/1864 | $ 1,815,784,370.57 | |
| 07/01/1863 | $ 1,119,772,138.63 | |
| 07/01/1862 | $ 524,176,412.13 | |
| 07/01/1861 | $ 90,580,873.72 | |
| 07/01/1860 | $ 64,842,287.88 | |
| 07/01/1859 | $ 58,496,837.88 | |
| 07/01/1858 | $ 44,911,881.03 | |
| 07/01/1857 | $ 28,699,831.85 | |
| 07/01/1856 | $ 31,972,537.90 | |
| 07/01/1855 | $ 35,586,956.56 | |
| 07/01/1854 | $ 42,242,222.42 | |
| 07/01/1853 | $ 59,803,117.70 | |
| 07/01/1852 | $ 66,199,341.71 | |
| 07/01/1851 | $ 68,304,796.02 | |
| 07/01/1850 | $ 63,452,773.55 | |
| 07/01/1849 | $ 63,061,858.69 | |
| 07/01/1848 | $ 47,044,862.23 | |
| 07/01/1847 | $ 38,826,534.77 | |
| 07/01/1846 | $ 15,550,202.97 | |
| 07/01/1845 | $ 15,925,303.0l | |
| 07/01/1844 | $ 23,461,652.50 | |
| 07/01/1843 | $ 32,742,922.00 | |
| 01/01/1843 | $ 20,201,226.27 | |
| 01/01/1842 | $ 13,594,480.73 | |
| 01/01/1841 | $ 5,250,875.54 | |
| 01/01/1840 | $ 3,573,343.82 | |
| 01/01/1839 | $ 10,434,221.14 | |
| 01/01/1838 | $ 3,308,124.07 | |
| 01/01/1837 | $ 336,957.83 | |
| 01/01/1836 | $ 37,513.05 | |
| 01/01/1835 | $ 33,733.05 | |
| 01/01/1834 | $ 4,760,082.08 | |
| 01/01/1833 | $ 7,001,698.83 | |
| 01/01/1832 | $ 24,322,235.18 | |
| 01/01/1831 | $ 39,123,191.68 | |
| 01/01/1830 | $ 48,565,406.50 | |
| 01/01/1829 | $ 58,421,413.67 | |
| 01/01/1828 | $ 67,475,043.87 | |
| 01/01/1827 | $ 73,987,357.20 | |
| 01/01/1826 | $ 81,054,059.99 | |
| 01/01/1825 | $ 83,788,432.71 | |
| 01/01/1824 | $ 90,269,777.77 | |
| 01/01/1823 | $ 90,875,877.28 | |
| 01/01/1822 | $ 93,546,676.98 | |
| 01/01/1821 | $ 89,987,427.66 | |
| 01/01/1820 | $ 91,015,566.15 | |
| 01/01/1819 | $ 95,529,648.28 | |
| 01/01/1818 | $ 103,466,633.83 | |
| 01/01/1817 | $ 123,491,965.16 | |
| 01/01/1816 | $ 127,334,933.74 | |
| 01/01/1815 | $ 99,833,660.15 | |
| 01/01/1814 | $ 81,487,846.24 | |
| 01/01/1813 | $ 55,962,827.57 | |
| 01/01/1812 | $ 45,209,737.90 | |
| 01/01/1811 | $ 48,005,587.76 | |
| 01/01/1810 | $ 53,173,217.52 | |
| 01/01/1809 | $ 57,023,192.09 | |
| 01/01/1808 | $ 65,196,317.97 | |
| 01/01/1807 | $ 69,218,398.64 | |
| 01/01/1806 | $ 75,723,270.66 | |
| 01/01/1805 | $ 82,312,150.50 | |
| 01/01/1804 | $ 86,427,120.88 | |
| 01/01/1803 | $ 77,054,686.40 | |
| 01/01/1802 | $ 80,712,632.25 | |
| 01/01/1801 | $ 83,038,050.80 | |
| 01/01/1800 | $ 82,976,294.35 | |
| 01/01/1799 | $ 78,408,669.77 | |
| 01/01/1798 | $ 79,228,529.12 | |
| 01/01/1797 | $ 82,064,479.33 | |
| 01/01/1796 | $ 83,762,172.07 | |
| 01/01/1795 | $ 80,747,587.39 | |
| 01/01/1794 | $ 78,427,404.77 | |
| 01/01/1793 | $ 80,358,634.04 | |
| 01/01/1792 | $ 77,227,924.66 | |
| 01/01/1791 | $ 75,463,476.52 | |
| * these years are rounded to the nearest Million |
SOURCE: BUREAU OF THE PUBLIC DEBT
From the site http://www.publicdebt.treas.gov/opd/opdpdodt.htmInterest on the debt from http://www.publicdebt.treas.gov/opd/opdint.php
public debt clock
Looking for more historical information? Visit the Debt Historical Information archives. at http://www.publicdebt.treas.gov/opd/opd.php#history
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