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You are hereBlogs / WcP.WatchfulEye's blog / “The U.S. National Debt on 01-01-1791 was $75 million. Today, it rises by $75 million every hour or so.”
“The U.S. National Debt on 01-01-1791 was $75 million. Today, it rises by $75 million every hour or so.”
"Q: What is the difference between the Debt and the Deficit?
A: The National Debt is the total amount of money owed by the government; the federal budget deficit is the yearly amount by which spending exceeds revenue. Add up all the deficits (and subtract those few budget surpluses we've had) for the past 200+ years and you'll get the current National Debt.
Q: How has the National Debt grown over time?
A: The National Debt on January 1st 1791 was just $75 million dollars. Today, it rises by that amount every hour or so. "
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