From $2.9 billion to $39 Trillion, See Which US Presidents Added The Most To the US Debt

By Austin Smith Updated May 5, 6:34AM EDT · Published Oct 2, 3:18PM EDT

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From $2.9 billion to $39 Trillion, See Which US Presidents Added The Most To the US Debt — © Keystone / Hulton Archive via Getty Images

“National debt” is a term thrown around quite frequently during political discussions. This often-staggering figure is the amount of money a country owes its creditors. But what or who constitutes as a creditor to a major nation? These can include institutions both overseas and at home, as well as other foreign countries. Though any sort of debt is generally painted in a negative light, national debt is normal and often goes along with a healthy economy; it can even help stimulate growth.

When various forms of government spending outpace incoming revenue, the result is known as a budget deficit, resulting in national debt. When the national economy is weak and consumers are spending less as a whole, the national debt will likely increase. The multiple factors leading to accrued debt of a huge nation like the United States are often quite complex. Additionally, they vary across generations and presidencies.

Why It Matters

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With higher national debts come high borrowing costs. This means that a lot of money is going towards interest payments instead of important funding that benefits the public, such as research, education, and infrastructure. The higher national debt also means that the government is more limited in what they’re able to do in times of crises and must resort to cutting back on social safety net programs to make ends meet. The budget is the chief responsibility of Congress and the President, and people need to understand what some presidents have done with this budget.

21. Calvin Coolidge (in office from 1923–1929)

Avg. annual change in national debt, fiscal 1923-1929: -4.5% (-$903.1 million)
Total change in national debt, fiscal 1923-1929: -24.2% (-$5.4 billion)
National debt at the end of fiscal 1929: $16.9 billion
National debt at the end of fiscal 1923: $22.3 billion
Party affiliation: Republican

20. Warren G. Harding (in office from 1921–1923)

Avg. annual change in national debt, fiscal 1921-1923: -3.5% (-$813.9 million)
Total change in national debt, fiscal 1921-1923: -6.8% (-$1.6 billion)
National debt at the end of fiscal 1923: $22.3 billion
National debt at the end of fiscal 1921: $24.0 billion
Party affiliation: Republican

19. Harry S. Truman (in office from 1945–1953)

Avg. annual change in national debt, fiscal 1945-1953: +0.4% (+$923.6 million)
Total change in national debt, fiscal 1945-1953: +2.9% (+$7.4 billion)
National debt at the end of fiscal 1953: $266.1 billion
National debt at the end of fiscal 1945: $258.7 billion
Party affiliation: Democratic

18. Dwight D. Eisenhower (in office from 1953–1961)

Avg. annual change in national debt, fiscal 1953-1961: +1.0% (+$2.9 billion)
Total change in national debt, fiscal 1953-1961: +8.6% (+$22.9 billion)
National debt at the end of fiscal 1961: $289.0 billion
National debt at the end of fiscal 1953: $266.1 billion
Party affiliation: Republican

17. Lyndon B. Johnson (in office from 1963–1969)

Lyndon Johnson | Johnson Calling

Avg. annual change in national debt, fiscal 1963-1969: +2.5% (+$8.0 billion)
Total change in national debt, fiscal 1963-1969: +15.6% (+$47.9 billion)
National debt at the end of fiscal 1969: $353.7 billion
National debt at the end of fiscal 1963: $305.9 billion
Party affiliation: Democratic

16. William Howard Taft (in office from 1909–1913)

Avg. annual change in national debt, fiscal 1909-1913: +2.5% (+$69.2 million)
Total change in national debt, fiscal 1909-1913: +10.5% (+$276.7 million)
National debt at the end of fiscal 1913: $2.9 billion
National debt at the end of fiscal 1909: $2.6 billion
Party affiliation: Republican

15. Theodore Roosevelt (in office from 1901–1909)

Avg. annual change in national debt, fiscal 1901-1909: +2.6% (+$62.0 million)
Total change in national debt, fiscal 1901-1909: +23.2% (+$496.2 million)
National debt at the end of fiscal 1909: $2.6 billion
National debt at the end of fiscal 1901: $2.1 billion
Party affiliation: Republican

14. John F. Kennedy (in office from 1961–1963)

Avg. annual change in national debt, fiscal 1961-1963: +2.9% (+$8.4 billion)
Total change in national debt, fiscal 1961-1963: +5.8% (+$16.9 billion)
National debt at the end of fiscal 1963: $305.9 billion
National debt at the end of fiscal 1961: $289.0 billion
Party affiliation: Democratic

13. William J. Clinton (in office from 1993–2001)

Avg. annual change in national debt, fiscal 1993-2001: +3.5% (+$174.5 billion)
Total change in national debt, fiscal 1993-2001: +31.6% (+$1.4 trillion)
National debt at the end of fiscal 2001: $5.8 trillion
National debt at the end of fiscal 1993: $4.4 trillion
Party affiliation: Democratic

12. Richard M. Nixon (in office from 1969–1974)

Avg. annual change in national debt, fiscal 1969-1974: +6.1% (+$24.3 billion)
Total change in national debt, fiscal 1969-1974: +34.3% (+$121.3 billion)
National debt at the end of fiscal 1974: $475.1 billion
National debt at the end of fiscal 1969: $353.7 billion
Party affiliation: Republican

11. Barack Obama (in office from 2009–2017)

Avg. annual change in national debt, fiscal 2009-2017: +6.9% (+$1.0 trillion)
Total change in national debt, fiscal 2009-2017: +70.0% (+$8.3 trillion)
National debt at the end of fiscal 2017: $20.2 trillion
National debt at the end of fiscal 2009: $11.9 trillion
Party affiliation: Democratic

10. Herbert Hoover (in office from 1929–1933)

Herbert Hoover

Avg. annual change in national debt, fiscal 1929-1933: +7.4% (+$1.4 billion)
Total change in national debt, fiscal 1929-1933: +33.1% (+$5.6 billion)
National debt at the end of fiscal 1933: $22.5 billion
National debt at the end of fiscal 1929: $16.9 billion
Party affiliation: Republican

9. Joseph R. Biden Jr. (in office from 2021–2025)

Avg. annual change in national debt, fiscal 2021-2023: +8.0% (+$2.4 trillion)
Total change in national debt, fiscal 2021-2025: +16.7% (+$4.7 trillion)
National debt at the end Biden’s term: $36.2 trillion
Party affiliation: Democratic

8. Donald J. Trump (in office from 2017–2021)

Avg. annual change in national debt, fiscal 2017-2021: +8.9% (+$2.0 trillion)
Total change in national debt, fiscal 2017-2021: +40.4% (+$8.2 trillion)
National debt at the end of fiscal 2021: $28.4 trillion
National debt at the end of fiscal 2017: $20.2 trillion
Party affiliation: Republican

7. Jimmy Carter (in office from 1977–1981)

Avg. annual change in national debt, fiscal 1977-1981: +9.3% (+$74.8 billion)
Total change in national debt, fiscal 1977-1981: +42.8% (+$299.0 billion)
National debt at the end of fiscal 1981: $997.9 billion
National debt at the end of fiscal 1977: $698.8 billion
Party affiliation: Democratic

6. George W. Bush (in office from 2001–2009)

Avg. annual change in national debt, fiscal 2001-2009: +9.4% (+$762.8 billion)
Total change in national debt, fiscal 2001-2009: +105.1% (+$6.1 trillion)
National debt at the end of fiscal 2009: $11.9 trillion
National debt at the end of fiscal 2001: $5.8 trillion
Party affiliation: Republican

5. George H.W. Bush (in office from 1989–1993)

Avg. annual change in national debt, fiscal 1989-1993: +11.5% (+$388.5 billion)
Total change in national debt, fiscal 1989-1993: +54.4% (+$1.6 trillion)
National debt at the end of fiscal 1993: $4.4 trillion
National debt at the end of fiscal 1989: $2.9 trillion
Party affiliation: Republican

4. Gerald R. Ford (in office from 1974–1977)

Avg. annual change in national debt, fiscal 1974-1977: +13.7% (+$74.6 billion)
Total change in national debt, fiscal 1974-1977: +47.1% (+$223.8 billion)
National debt at the end of fiscal 1977: $698.8 billion
National debt at the end of fiscal 1974: $475.1 billion
Party affiliation: Republican

3. Ronald Reagan (in office from 1981–1989)

Avg. annual change in national debt, fiscal 1981-1989: +14.1% (+$232.4 billion)
Total change in national debt, fiscal 1981-1989: +186.4% (+$1.9 trillion)
National debt at the end of fiscal 1989: $2.9 trillion
National debt at the end of fiscal 1981: $997.9 billion
Party affiliation: Republican

2. Franklin D. Roosevelt (in office from 1933–1945)

Franklin And Eleanor Roosevelt

Avg. annual change in national debt, fiscal 1933-1945: +22.6% (+$19.7 billion)
Total change in national debt, fiscal 1933-1945: +1,047.7% (+$236.1 billion)
National debt at the end of fiscal 1945: $258.7 billion
National debt at the end of fiscal 1933: $22.5 billion
Party affiliation: Democratic

1. Woodrow Wilson (in office from 1913–1921)

Avg. annual change in national debt, fiscal 1913-1921: +30.1% (+$2.6 billion)
Total change in national debt, fiscal 1913-1921: +722.2% (+$21.1 billion)
National debt at the end of fiscal 1921: $24.0 billion
National debt at the end of fiscal 1913: $2.9 billion
Party affiliation: Democratic

Donald J. Trump (2nd Term, Ongoing)

Donald+Trump | Donald Trump Signs The Pledge

Avg. annual change in national debt, second term: ongoing
National debt at beginning of term: $36.2 trillion
Current national debt: $38.95 trillion
Party affiliation: Republican

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About the Author Austin Smith, PhD, MD, CFA →

Austin Smith is a financial publisher with over two decades of experience as an investor, analyst, and advisor. He covers stocks, ETFs, Artificial intelligence and personal finance for 24/7 Wall St. Previously, he spent over a decade at The Motley Fool as a senior editor for Fool.com, portfolio advisor for Millionacres, and launched The Ascent to help reader take control of their personal finances.

His work has been featured on Fool.com, NPR, CNBC, USA Today, Yahoo Finance, MSN, AOL, Marketwatch, and many other publications. He is as an advisor to private companies, and co-hosts The AI Investor Podcast with Eric Bleeker.

When not looking for investment opportunities, he can be found skiing, running, or playing soccer with his children. Learn more about Austin's investment approach here.