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‘Worse Than World War II’ – Visualizing US National Debt (As A Percent Of GDP) Since 1900

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‘Worse Than World War II’ – Visualizing US National Debt (As A Percent Of GDP) Since 1900

This year, U.S. national debt is set to approach 100% of GDP, up from 36% in 2005.

By 2035, the tab is projected to reach 118.5% of GDP as higher debt costs steepen the deficit, fueling further government borrowing. Today, the deficit stands at $1.9 trillion with net interest and mandatory spending outpacing revenues.

This graphic, via Visual Capitalist’s Dorothy Neufeld, shows U.S. federal debt projections to 2035, based on data from the Congressional Budget Office.

Swimming in Debt

Below, we show how national debt held by the public is set to mushroom over the next decade:

Year U.S. Federal Debt as a % of GDP
2035P 118.5
2034P 117.1
2033P 115.3
2032P 113.0
2031P 111.1
2030P 109.2
2029P 107.2
2028P 105.4
2027P 103.4
2026P 101.7
2025P 99.9
2024 97.8
2023 96.0
2022 95.0
2021 96.9
2020 98.6
2019 78.9
2018 77.1
2017 75.7
2016 76.0
2015 72.2
2014 73.3
2013 71.8
2012 70.0
2011 65.5
2010 60.6
2009 52.2
2008 39.2
2007 35.2
2006 35.4
2005 35.8
2004 35.7
2003 34.7
2002 32.7
2001 31.5
2000 33.7
1999 38.3
1998 41.7
1997 44.6
1996 47.0
1995 47.7
1994 47.8
1993 47.9
1992 46.8
1991 44.1
1990 40.9
1989 39.4
1988 39.9
1987 39.6
1986 38.5
1985 35.3
1984 33.1
1983 32.2
1982 27.9
1981 25.2
1980 25.5
1979 25.0
1978 26.7
1977 27.1
1976 26.7
1975 24.6
1974 23.2
1973 25.2
1972 26.5
1971 27.1
1970 27.1
1969 28.4
1968 32.3
1967 31.9
1966 33.8
1965 36.8
1964 38.8
1963 41.1
1962 42.3
1961 43.6
1960 44.3
1959 46.5
1958 47.8
1957 47.3
1956 50.7
1955 55.8
1954 58.0
1953 57.2
1952 60.1
1951 65.5
1950 78.6
1949 77.4
1948 82.4
1947 93.9
1946 106.1
1945 103.9
1944 86.4
1943 69.2
1942 45.9
1941 41.5
1940 43.6
1939 42.4
1938 42.2
1937 39.6
1936 42.5
1935 42.4
1934 43.5
1933 38.6
1932 34.0
1931 22.0
1930 16.3
1929 14.8
1928 17.0
1927 18.0
1926 19.0
1925 21.6
1924 23.5
1923 25.2
1922 31.1
1921 31.6
1920 27.3
1919 33.4
1918 30.2
1917 13.3
1916 2.7
1915 3.3
1914 3.5
1913 3.2
1912 3.4
1911 3.6
1910 3.7
1909 3.8
1908 4.3
1907 4.0
1906 4.0
1905 4.3
1904 4.7
1903 5
1902 5.4
1901 5.7
1900 6.6

By 2029, federal debt is forecast to exceed the post-WWII record based on an outlook that doesn’t factor in recessions.

This comes amid a widening deficit during a period of low unemployment and a growing U.S. economy. In many ways, this counters the theory of shrinking the deficit during economic expansion and increasing the deficit during downturns.

Looking ahead, net interest on the federal debt is expected to nearly double from 2024 levels, reaching $1.8 trillion by 2035. To put it in perspective, interest costs will be 1.7 times higher than defense spending that year.

While Modern Monetary Theory suggests that countries that have control over their currencies will never face default since they can print more money, evidence from history suggests a different outcome.

From the British Empire and Habsburg Spain to the Ottoman Empire, historian Niall Ferguson finds that superpowers that have spent more on debt servicing costs than defense have not held onto power for very long.

To learn more about this topic amid swelling debt, check out this graphic on the top holders of U.S. debt.

Tyler Durden Fri, 02/07/2025 – 21:20


Source: https://freedombunker.com/2025/02/07/worse-than-world-war-ii-visualizing-us-national-debt-as-a-percent-of-gdp-since-1900/


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