Another $2 Trillion of Debt Added in 1 Year of Biden
Federal debt stands at $29,867,021,509,573.92
The federal government's debt stood at $27,751,896,236,414.77 when Joe Biden took office last year.
Now, marking Biden's first year in office, it stands at $29,867,021,509,573.92.
This means the federal debt grew by more than $2 trillion since Biden took office.
Forty presidents had served as this nation's chief executive before the debt topped $2 trillion in 1986
According to U.S. Treasury data, when President George Washington was serving his first year in office in 1790, the federal debt was $71,060,508.50.
That number dropped to $33,733.05 in 1835 when Andrew Jackson was in his second term.
"President Andrew Jackson was a staunch opponent of the existing banking system," NPR reported last August.
"He also wanted to get rid of the national debt.
"In fact, his administration paid off all the interest-bearing debt on January 1, 1835."
"That was the one time in U.S. history when the country was debt free," NPR reported back in 2011.
"It lasted exactly one year."
In 1860, the year before the Civil War began, debt was $64,842,287.88.
By 1865 it had soared to $2,680,647,869.74.
Federal debt began to drop again in the wake of the civil war, hitting a low of $1,545,985,686.13 in July 1893.
Debt spiked again during World War 1.
When the federal fiscal year of 1917 began on July 1, 1916, the debt was at $3,609,244,262.16.
By 1919 it increased to $27,390,970,113.12, by approximately 659%.
But federal debt declined again, falling to $16,185,309.831.43 as of June 30, 1930.
Under President Franklin Delano Roosevelt, the debt would relentlessly climb.
On June 30, 1932, the end of the last fiscal year before Roosevelt took office, it stood at $19,487,002,444.13.
By the end of April 1945, it hit $236,223,845.377.06.
By the end of January 1953, the debt stood at $267,402,058,632.56 - the month President Harry Truman handed power to President Dwight Eisenhower.
By the time President John Kennedy took office, the debt had risen to $289,795,752,640.38.
When President Richard Nixon took office in 1969, it had risen to $362,629,668,607.84.
In 1977, it had jumped to $653,907,000,000 in the month President Gerald Ford was succeeded by President Jimmy Carter.
At the end of January 1981, the debt stood at $934,073,000,000.
When President George H.W. Bush succeeded Reagan at the end of January 1989, it was $2,697,957,000,000.
When President Bill Clinton took over for Bush, it was $4,167,200,000,000.
In 2001 it stood at $5,727,776,738,304.64 by the time President George W. Bush took office.
It then increased to $10,626,877,048,913.08 by January 20, 2009, when President Barack Obama took office.
Then to $19,947,304,555,212.49 by January 20, 2017, when President Donald Trump took office.
Then to $27,751,896,236,414.77 on January 20, 2021, when Biden took the oath.
The first thing Biden did in the face of a $27.75 trillion debt was pushed for Congress to pass a massive spending bill.
"President Joe Biden signed the first major legislative achievement of his young presidency Thursday, moving to get a $1.86 trillion COVID-19 aid package into law as quickly as possible," the Congressional Quarterly reported on March 11, 2021.