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Source: Visual Capitalist and Statista
Published: October 2020 and February 2021

America’s Ever-Increasing Debt

As of December 2020, America’s total public debt was $27.7 trillion - up 200% from 2008 and exceeding the annual Gross Domestic Product (GDP), which is used to measure a country’s total economic output.

From 1994 to 2007, debt averaged about 60% of GDP, however, during the Global Financial Crisis in 2008 the debt began climbing, exacerbated by the COVID-19 pandemic.

                                                                               
Year Total Public Debt (in trillion U.S. Dollars) GDP (in trillion U.S. Dollars) Debt as % of GDP
2008 $9.2 $14.7 63%
2010 $12.3 $14.7 84%
2012 $15.2 $16.0 95%
2014 $17.3 $17.1 101%
2016 $18.9 $18.5 102%
2018 $20.5 $20.2 101%
2020 $27.7 $19.5 142%

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