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US national debt tops $40 trillion: These charts offer more context
WMUR • • business
Key Points:
- The U.S. national debt has surpassed $40 trillion, marking nearly a 600% increase since 2000 when it was about $5.8 trillion.
- Divided by the current population, the debt amounts to approximately $116,800 per American.
- The national debt increased by 10.6% since President Biden took office, with the greatest dollar increase of $8.45 trillion occurring during his presidency, influenced in part by the COVID-19 pandemic.
- Among recent presidents, Barack Obama saw the highest percentage increase in debt during his first term, while Trump's first term saw a 39.1% increase.
- Federal spending rose about 50% from 2019 to 2021 due to the pandemic, contributing to deficits, with the last federal surplus recorded in 2001.
