| "[As Henry Home (Lord Kames) has written, a goal of taxation should be to] 'remedy inequality of riches as much as possible, by relieving the poor and burdening the rich.'" -- Adam Smith |
 |
 |
 |
| "[As Henry Home (Lord Kames) has written, a goal of taxation should be to] 'remedy inequality of riches as much as possible, by relieving the poor and burdening the rich.'" -- Adam Smith |
|
|
|
The following is a summary of the United State's Federal Debt since 1950. Data on the debt amount is taken from The Treasury's Bureau of Public Debt. Consumer price index (CPI) data (for adjustment to 2001 dollars) were taken from The Minneapolis Federal Reserve Bank. Finally, historic revenue and expenditure data are from the historic tables in the 2001 Federal Budget.
| Interested to know how much the debt is costing you personally? |
|
| YEAR | DEBT | Accumulated DEBT (2001 DOLLARS) | REVENUE | ON-BUDGET GOVERNMENT TAX REVENUE (2001 DOLLARS) | EXPENDITURES | ON-BUDGET GOVERNMENT EXPENDITURES (2001 DOLLARS) | Difference between revenues and expenditures |
|---|---|---|---|---|---|---|---|
| 1950 | $257,357,352,351.04 | $1,838,877,015,553.90 | $37,336,000,000.00 | $266,774,240,663.90 | $42,038,000,000.00 | $300,371,103,734.44 | -$33,596,863,070.54 |
| 1951 | $255,221,976,814.93 | $1,690,354,784,905.04 | $48,496,000,000.00 | $321,192,738,461.54 | $44,237,000,000.00 | $292,985,053,846.15 | $28,207,684,615.38 |
| 1952 | $259,105,178,785.43 | $1,683,694,784,409.47 | $62,573,000,000.00 | $406,606,437,735.85 | $65,956,000,000.00 | $428,589,554,716.98 | -$21,983,116,981.13 |
| 1953 | $275,168,120,129.39 | $1,761,485,140,753.94 | $65,511,000,000.00 | $422,509,146,067.42 | $73,771,000,000.00 | 475781505617.98 | -$53,272,359,550.56 |
| 1954 | $278,749,814,391.33 | $1,791,071,568,589.07 | $65,112,000,000.00 | $416,813,620,817.84 | $67,943,000,000.00 | $434,936,230,483.27 | -$18,122,609,665.43 |
| 1955 | $280,768,553,188.96 | $1,777,512,678,644.81 | $60,370,000,000.00 | $387,899,776,119.40 | $64,461,000,000.00 | $414,185,977,611.94 | -$26,286,201,492.54 |
| 1956 | $276,627,527,996.11 | $1,695,204,993,627.41 | $68,162,000,000.00 | $431,525,602,941.18 | $65,668,000,000.00 | $415,736,382,352.94 | $15,789,220,588.24 |
| 1957 | $274,897,784,290.72 | $1,637,972,264,874.12 | $73,201,000,000.00 | $448,584,064,056.94 | $70,562,000,000.00 | $432,411,971,530.25 | $16,172,092,526.69 |
| 1958 | $282,922,423,583.87 | $1,674,200,733,372.59 | $71,587,000,000.00 | $426,549,529,411.77 | $74,902,000,000.00 | $446,301,882,352.94 | -$19,752,352,941.18 |
| 1959 | $290,797,771,717.63 | $1,691,735,685,465.40 | $70,953,000,000.00 | $419,866,206,185.57 | $83,102,000,000.00 | $491,758,226,804.12 | -$71,892,020,618.56 |
| 1960 | $290,216,815,241.68 | $1,671,415,905,840.04 | $81,851,000,000.00 | $476,173,722,972.97 | $81,341,000,000.00 | $473,206,763,513.51 | $2,966,959,459.46 |
| 1961 | $296,168,761,214.92 | $1,688,750,353,682.42 | $82,279,000,000.00 | $473,860,996,655.52 | $86,046,000,000.00 | $495,555,892,976.59 | -$21,694,896,321.07 |
| 1962 | $303,470,080,489.27 | $1,707,763,001,969.03 | $87,405,000,000.00 | $498,382,152,317.88 | $93,286,000,000.00 | $531,915,536,423.84 | -$33,533,384,105.96 |
| 1963 | $309,346,845,059.17 | $1,718,371,829,651.26 | $92,385,000,000.00 | $519,892,058,823.53 | $96,352,000,000.00 | $542,216,156,862.75 | -$22,324,098,039.22 |
| 1964 | $317,940,472,718.38 | $1,738,074,584,193.81 | $96,248,000,000.00 | $534,642,116,129.03 | $102,794,000,000.00 | $571,004,090,322.58 | -$36,361,974,193.55 |
| 1965 | $320,904,110,042.04 | $1,705,545,918,186.40 | $100,094,000,000.00 | $547,180,533,333.33 | $101,699,000,000.00 | $555,954,533,333.33 | -$8,774,000,000.00 |
| 1966 | $329,319,249,366.68 | $1,697,867,507,213.84 | $111,749,000,000.00 | $593,925,240,740.74 | $114,817,000,000.00 | $610,231,092,592.59 | -$16,305,851,851.85 |
| 1967 | $344,663,009,745.18 | $1,705,487,651,670.11 | $124,420,000,000.00 | $641,470,778,443.11 | $137,040,000,000.00 | $706,535,568,862.28 | -$65,064,790,419.16 |
| 1968 | $358,028,625,002.91 | $1,679,905,428,487.77 | $128,056,000,000.00 | $633,656,413,793.10 | $155,798,000,000.00 | $770,931,482,758.62 | -$137,275,068,965.52 |
| 1969 | $368,225,581,254.41 | $1,634,238,275,567.25 | $157,928,000,000.00 | $741,013,667,574.93 | $158,436,000,000.00 | $743,397,253,405.99 | -$2,383,585,831.06 |
| 1970 | $389,158,403,690.26 | $1,654,643,879,394.14 | $159,348,000,000.00 | $707,209,422,680.41 | $168,042,000,000.00 | $745,794,649,484.54 | -$38,585,226,804.12 |
| 1971 | $424,130,961,959.95 | $1,747,257,216,495.30 | $151,294,000,000.00 | $643,279,674,074.07 | $177,346,000,000.00 | $754,048,918,518.52 | -$110,769,244,444.44 |
| 1972 | $449,298,066,119.00 | $1,742,547,905,083.15 | $167,402,000,000.00 | $689,632,162,679.43 | $193,824,000,000.00 | $798,480,688,995.22 | -$108,848,526,315.79 |
| 1973 | $469,898,039,554.70 | $1,641,307,148,302.62 | $184,715,000,000.00 | $716,394,662,162.16 | $200,118,000,000.00 | $776,133,324,324.32 | -$59,738,662,162.16 |
| 1974 | $492,665,000,000.00 | $1,576,894,293,680.30 | $209,299,000,000.00 | $731,060,604,462.48 | $217,270,000,000.00 | $758,902,515,212.98 | -$27,841,910,750.51 |
| 1975 | $576,649,000,000.00 | $1,745,148,643,233.74 | $216,633,000,000.00 | $693,386,665,427.51 | $271,892,000,000.00 | $870,256,550,185.87 | -$176,869,884,758.36 |
| 1976 | $653,544,000,000.00 | $1,857,100,277,227.72 | $231,671,000,000.00 | $701,120,319,859.40 | $302,183,000,000.00 | $914,515,159,929.70 | -$213,394,840,070.30 |
| 1977 | $718,943,000,000.00 | $1,898,803,444,785.28 | $278,741,000,000.00 | $792,066,009,900.99 | $328,502,000,000.00 | $933,466,079,207.92 | -$141,400,069,306.93 |
| 1978 | $789,207,000,000.00 | $1,871,920,735,537.19 | $314,169,000,000.00 | $829,753,095,092.02 | $369,089,000,000.00 | $974,802,542,944.79 | -$145,049,447,852.76 |
| 1979 | $845,116,000,000.00 | $1,766,128,339,805.83 | $365,309,000,000.00 | $866,476,719,008.26 | $404,054,000,000.00 | $958,376,016,528.93 | -$91,899,297,520.66 |
| 1980 | $930,210,000,000.00 | $1,762,180,000,000.00 | $403,903,000,000.00 | $844,078,842,233.01 | $476,618,000,000.00 | $996,039,072,815.53 | -$151,960,230,582.52 |
| 1981 | $1,028,729,000,000.00 | $1,835,721,593,782.38 | $469,097,000,000.00 | $888,652,402,640.26 | $543,053,000,000.00 | $1,028,753,867,986.80 | -$140,101,465,346.54 |
| 1982 | $1,197,073,000,000.00 | $2,069,638,259,036.14 | $474,299,000,000.00 | $846,365,676,683.94 | $594,351,000,000.00 | $1,060,593,183,419.69 | -$214,227,506,735.75 |
| 1983 | $1,410,702,000,000.00 | $2,338,045,085,659.29 | $453,242,000,000.00 | $783,617,192,771.08 | $661,277,000,000.00 | $1,143,292,162,650.60 | -$359,674,969,879.52 |
| 1984 | $1,662,966,000,000.00 | $2,661,363,802,973.98 | $500,411,000,000.00 | $829,362,600,577.48 | $686,061,000,000.00 | $1,137,052,013,474.49 | -$307,689,412,897.02 |
| 1985 | $1,945,941,616,459.88 | $3,057,400,970,386.78 | $547,918,000,000.00 | $876,872,486,988.85 | $769,615,000,000.00 | $1,231,670,102,230.48 | -$354,797,615,241.64 |
| 1986 | $2,125,302,616,658.42 | $3,221,629,494,617.78 | $568,986,000,000.00 | $893,972,529,197.08 | $806,962,000,000.00 | $1,267,872,777,372.26 | -$373,900,248,175.18 |
| 1987 | $2,350,276,890,953.00 | $3,421,113,107,541.05 | $640,951,000,000.00 | $971,582,413,732.39 | $810,290,000,000.00 | $1,228,274,102,112.68 | -$256,691,688,380.28 |
| 1988 | $2,602,337,712,041.16 | $3,613,891,564,624.90 | $667,812,000,000.00 | $972,081,372,781.07 | $861,798,000,000.00 | $1,254,451,526,627.22 | -$282,370,153,846.15 |
| 1989 | $2,857,430,960,187.32 | $3,764,725,411,968.30 | $727,525,000,000.00 | $1,010,321,008,064.52 | $932,760,000,000.00 | $1,295,332,838,709.68 | -$285,011,830,645.16 |
| 1990 | $3,233,313,451,777.25 | $4,087,933,747,401.19 | $750,314,000,000.00 | $988,554,482,019.89 | $1,028,133,000,000.00 | $1,354,586,859,984.70 | -$366,032,377,964.81 |
| 1991 | $3,665,303,351,697.03 | $4,498,683,087,400.06 | $761,157,000,000.00 | $962,343,872,246.70 | $1,082,716,000,000.00 | $1,368,896,440,528.63 | -$406,552,568,281.94 |
| 1992 | $4,064,620,655,521.66 | $4,843,790,151,424.43 | $788,853,000,000.00 | $968,214,444,761.23 | $1,129,345,000,000.00 | $1,386,124,084,105.49 | -$417,909,639,344.26 |
| 1993 | $4,411,488,883,139.38 | $5,125,900,038,303.65 | $842,467,000,000.00 | $1,003,964,134,256.06 | $1,142,925,000,000.00 | $1,362,018,581,314.88 | -$358,054,447,058.82 |
| 1994 | $4,692,749,910,013.32 | $5,302,437,890,448.12 | $923,601,000,000.00 | $1,073,172,012,145.75 | $1,182,530,000,000.00 | $1,374,032,834,008.10 | -$300,860,821,862.35 |
| 1995 | $4,973,982,900,709.39 | $5,459,017,562,155.24 | $1,000,751,000,000.00 | $1,130,769,830,708.66 | $1,227,173,000,000.00 | $1,386,608,862,204.72 | -$255,839,031,496.06 |
| 1996 | $5,224,810,939,135.73 | $5,605,685,007,596.09 | $1,085,570,000,000.00 | $1,191,428,642,447.42 | $1,259,668,000,000.00 | $1,382,503,694,072.66 | -$191,075,051,625.24 |
| 1997 | $5,413,146,011,397.34 | $5,718,673,270,936.33 | $1,187,302,000,000.00 | $1,273,852,986,915.89 | $1,290,656,000,000.00 | $1,384,741,203,738.32 | -$110,888,216,822.43 |
| 1998 | $5,526,193,008,897.62 | $5,711,947,395,751.32 | $1,305,999,000,000.00 | $1,379,711,826,993.86 | $1,336,007,000,000.00 | $1,411,413,530,061.35 | -$31,701,703,067.48 |
| 1999 | $5,656,270,901,615.43 | $5,656,270,901,615.43 | $1,382,986,000,000.00 | $1,429,472,924,369.75 | $1,382,262,000,000.00 | $1,428,724,588,235.29 | $748,336,134.45 |
| 2000 | $5,674,178,209,886.86 | $5,489,289,256,980.43 | $1,479,489,000,000.00 | $1,479,489,000,000.00 | $1,460,633,000,000.00 | $1,460,633,000,000.00 | $18,856,000,000.00 |
| Association of Monroe County Taxpayers, PO Box 3066, Bloomington, Indiana 47402 | updated: June 16 2008 12:20:01 PM |