2014 $17,824 $17,600 101%
2013 $16,738 $16,872 99% Sequestration reduced government spending, at the same time the end of Obama's payroll tax holiday raised revenue. The U.S. debt hit $17 trillion a few days after the end of the fiscal year.
2012 $16,066 $16,066 99% Obama extended Bush tax cuts, combined with $900 billion in defense spending.
2011 $14,790 $15,587 95% Obama Stimulus Act (ARRA) spent $120 billion.
2010 $13,562 $15,058 90% ARRA budgeted $400 billion. For more, see National Debt Under Obama.
2009 $11,910 $14,384 83% Economy contracted 8.9% in Q4 '08, 6.7% in Q1 '09, lowering tax revenues. ARRA spent $241.9 billion. War on Terror cost $79 billion. Fed funds rate lowered to 0%.
2008 $10,025 $14,843 68% Economy contracted 3.7% in Q3 '08, 1.8% in Q1 '08. War on Terror cost $197.6 billion, Bank Bailout Bill cost $350 billion.
2007 $9,008 $14,570 62% Iraq War cost $131.6 billion.
2006 $8,507 $13,909 61% Katrina clean-up was $24.7 billion, swine flu added $6 billion, War on Terror cost $120.4 billion. Ben Bernanke became Fed Chair.
2005 $7,933 $13,205 60% War on Terror cost $107.6 billion.
2004 $7,379 $12,368 60% War on Terror was $94 billion.
2003 $6,783 $11,625 58% Unemployment still at 6%. War on Terror cost $53 billion.
2002 $6,228 $11,037 56% War on Terror added $33.8 billion.
2001 $5,807 $10,640 55% 9/11 attacks worsened the 2011 recession. Bush tax cuts further reduced revenue.
2000 $5,674 $10,357 55%
1999 $5,656 $9,712 58%
1998 $5,526 $9,147 60%
1997 $5,413 $8,692 62%
1996 $5,225 $8,159 64%
1995 $4,974 $7,707 65%
1994 $4,693 $7,352 64%
1993 $4,411 $6,904 64% Bill Clinton passed Omnibus Budget Reconciliation Act
1992 $4,065 $6,587 62%
1991 $3,665 $6,218 59% 1991 recession.
1990 $3,233 $6,030 54% Desert Storm.
1989 $2,857 $5,712 50% Savings and Loan Crisis cost $125 billion.
1988 $2,602 $5,300 49%
1987 $2,350 $4,901 48% Alan Greenspan become Fed Chair.
1986 $2,125 $4,620 46% President Reagan lowered tax rates.
1985 $1,828 $4,395 42%
1984 $1,572 $4,087 38%
1983 $1,377 $3,692 37% Unemployment from the 1982 recession peaked at 10.8%.
1982 $1,142 $3,367 34% 1982 recession, GDP fell 6.4% in Q1 '82.
1981 $998 $3,261 31% Beginning of 1982 recession.
1980 $908 $2,860 32% 1980 recession, Iran oil embargo, GDP fell 7.9% in Q2 '80.
1979 $827 $2,670 31% Volcker became Fed Chair, increasing Fed funds rate to 20% to combat inflation.
1978 $772 $2,399 32%
1977 $699 $2,122 33%
1976 $620 $1,891 33%
1975 $533 $1,714 31% Unemployment from 1973-75 recession peaked at 9% in May, GDP was down 4.8% in Q1 '75.
1974 $475 $1,563 30% Fed raised rates to 13% to fight inflation. Nixon resigned over Watergate.
1973 $458 $1,437 32% OPEC raised oil prices. Nixon went off gold standard, tripling inflation to 9.7%. Fed doubled interest rates. Vietnam War ended.
1972 $427 $1,294 33% Nixon won re-election in a landslide.
1971 $398 $1,180 34% Nixon imposed wage price controls and suspended gold standard. Unemployment from 1970 recession peaked at 6.1% in December
1970 $371 $1,089 34% GDP down 4.2% in Q4 '70. Arthur Burns becomes Fed Chair.
1969 $354 $1,032 34% Nixon became President.
1968 $348 $952 36% Johnson sent 500,000 troops to Vietnam.
1967 $326 $867 38% LBJ created PBS, Product Safety Commission and Air Quality Act.
1966 $320 $821 39% Fed raised interest rates to 5.76% to fight a mild 3.5% inflation.
1965 $317 $750 42% Johnson funds Great Society, creating Medicare,
Medicaid and HUD. Sends 100,000 troops to Vietnam. War's total cost will be $111 billion.
1964 $312 $693 45% LBJ announces War on Poverty.
1963 $306 $645 47% Military coup in Vietnam, aided by 16,000 U.S. advisers. Kennedy assassinated.
1962 $299 $610 49% Cuban Missile Crisis.
1961 $289 $568 51% JFK became President. Bay of Pigs. Unemployment peaked at 6.1% in Dec.
1960 $286 $546 52% 1960 recession started in April. GDP fell 4.2% in Q4 '60.
1959 $285 $525 54% Fed raised rates to combat 7.25% growth rate.
1958 $276 $487 57% GDP fell 4.2% in Q4 '57, and another 10.4% in Q1 '58. Unemployment peaked at 7.1% in Sep '58.
1957 $271 $480 56%
1956 $273 $452 60%
1955 $274 $431 64%
1954 $271 $392 69% Recession follows end of Korean War.
1953 $266 $392 68% Korean War ends, total war cost $30 billion.
1952 $259 $368 70%
1951 $255 $352 73%
1950 $257 $309 83% Korean War starts.
1949 $253 $273 92% 1949 recession.
1948 $252 $280 90%
1947 $258 $250 103%
1946 $269 $228 113% GDP fell 11%.
1945 $259 $228 116% 1945 recession due to end of WWII. War cost $296 billion.
1944 $201 $225 89%
1943 $137 $203 67%
1942 $72 $166 44%
1941 $49 $129 38% Attack on Pearl Harbor, US entered WWII, ending the Great Depression.
1940 $43 $103 42%
1939 $40 $94 43%
1938 $37 $87 43%
1937 $36 $93 39%
1936 $34 $85 40%
1935 $29 $74 39%
1934 $27 $67 40% World trade is down 66% from start of Depression.
1933 $23 $57 39% Roosevelt took office, New Deal signed. Unemployment peaked at 25%.
1932 $19 $60 33% Hoover worsened depression by raising taxes to balance budget.
1931 $17 $77 22%
1930 $16 $92 18% Stock Market Crash of 1929. Congress passed Smoot-Hawley Tariffs.
1929 $17 $105 16% Hoover maintained high wage controls. Fed raised discount rate to defend gold standard, creating deflation. Combination forces bankruptcies on businesses.