Today's unprecedented $31 trillion national debt has been building for decades. See how much each president racked up from Richard Nixon to Joe Biden.
, Anna Moneymakers /Getty Images / Getty Images)Following Nixon, Republican Gerald Ford was able to tack another $223.8 billion onto the debt in only three years in office during a period of stagflation. Democrat Jimmy Carter added $299 million during his single term, marred by a recession.Ronald Reagan was the first president to push debt accumulation into the trillions, contributing $1.86 trillion to what the U.S. owed during his terms from 1981 to 1989.
President Bill Clinton, left, and Speaker of the House Newt Gingrich share a few words on June 4, 1998. Spending surged again, however, under GOP President George W. Bush when another $6.1 trillion was added to the debt from 2001-2009. Bush was president during the terrorist attacks on the U.S. on Sept. 11, 2001, which led to the U.S. war in Afghanistan that lasted 20 years. The U.S. also launched the Iraq War under Bush in 2008, and Congress famously passed a $700 billion bank bailout during his tenure in reaction to the financial crash of 2008.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US starts fiscal year with record $31 trillion in debt'I think the point here is if you weren't worried before about the debt before, you should be - and if you were worried before, you should be even more worried,' Zidar said.
Read more »
Bitcoin Miner Marathon Invested $31.3M in Bankrupt Data Center Compute NorthOne of the largest bitcoin miners, MarathonDH said it has a total of more than $30 million in investments in a bankrupt data center computenorthllc. Reports Aoyon_A
Read more »
U.S. starts fiscal year with record $31 trillion in debt, approaching debt ceilingNation is edging closer to statutory debt ceiling of $31.4 trillion. 'We are addicted to debt,' one expert said.
Read more »
The next US debt crisis: Making hundreds of billions in interest paymentsRising interest rates mean rising costs of servicing the national debt, which eclipsed $31 trillion -- interest payments on the debt may exceed $500 billion.
Read more »
Today in sports history: Oct. 6In 1993, Michael Jordan announces his retirement after nine seasons and three titles in the NBA. See more sports moments from this date:
Read more »