|Tweet|| ||Contact||Follow @chrischantrill|
Right now the Gross Federal Debt is $19,845,862,796,665.15.
At the end of
FY 2016 the debt was $19.5 trillion,
or 105.6% GDP.
The highest federal debt in US history was 119.0% GDP in 1946 just after World War II.
At the end of
FY 2016 the federal deficit was $587 billion,
or 3.2% GDP.
The highest federal deficit in US history was 29.0% GDP in 1943 in World War II.
Currently, state government debt in the United States is about 6.5 percent of GDP and local government debt is about 10.4 percent of GDP.
In the post World War II era, state and local debt increased briskly through the early 1960s, with state debt reaching 3.6 percent GDP and local debt reaching 9.7 percent GDP in 1962. In the 1970s through the 1990s state debt increased steadily, breaching 4 percent of GDP in 1971, 5 percent GDP in 1986, reaching 5.8 percent in 2001. Local debt increased more erratically, dropping from 9.5 percent of GDP in 1971 to 7.13 in 1981 and then increasing to over 9 percent in 1988, leveling out until 2001.
In the 2000s both state debt and local debt increased briskly then bounced up in the Great Recession, with state debt peaking at 7.45 percent GDP in 2010 and local debt peaking at 11.55 percent GDP in 2010. Since 2010 both state and local debt have declined as a percent of GDP, with state debt estimated at 6.46 percent GDP in 2015 and local debt at 10.36 percent GDP in 2015.
Find NATIONAL DEBT today.
See DEBT ANALYSIS briefing.
See DEBT HISTORY briefing.
Take a COURSE at Spending 101.
Make your own CUSTOM CHART.
Debt data is from official government sources.
Detailed table of debt data sources here.
Federal debt data begins in 1792.
State and local debt data begins in 1890.
State and local debt data for individual states begins in 1957.
File a valid bug report and get a $5 Amazon Gift Certificate.
> Federal Budget FY18
Source: CBO Long-Term Budget Outlook .
in $ billion
|State and Intl Aid||-10.9|