Title: History of the United States public debt - Wikipedia
Headings: History of the United States public debt
History of the United States public debt
Contents
Early history
1790s
The assumption issue
1790s to 1834
Payment of US national debt
1836 to 1910
World War I and Great Depression
After World War II
2011 credit rating downgrade
Changes in debt by political affiliation
Causes of recent changes in debt
2001 vs. 2009
2001 vs. 2011
2008 vs. 2009
Historical debt levels
Gross federal debt
Publicly held debt
Federal spending, federal debt and GDP
See also
Notes
References
External links

Content: Debt held by the public was $15.05 billion or 16.5% of GDP in 1930. When Franklin D. Roosevelt took office in 1933, the public debt was almost $20 billion, 20% of GDP. Decreased tax revenues and spending on social programs during the Great Depression increased the debt and by 1936, the public debt had increased to $33.7 billion, approximately 40% of GDP. During its first term, the Roosevelt administration ran large annual deficits of between 2 and 5% of GDP. By 1939, the debt held by the public had increased to $39.65 billion or 43% of GDP. The buildup and involvement in World War II during the presidencies of F.D. Roosevelt and Harry S. Truman led to the largest increase in public debt. Public debt rose over 100% of GDP to pay for the mobilization before and during the war. Public debt was $251.43 billion or 112% of GDP at the conclusion of the war in 1945 and was $260 billion in 1950. After World War II
U.S. federal debt held by the public as a percentage of GDP, from 1940 to 2012. The public debt as a percentage of GDP fell rapidly after the end of World War II under the presidency of Harry S. Truman, as the U.S. and the rest of the world experienced a post-war economic expansion.