Analyzing what has contributed to US national debt since 2000

[Pres Mike]

The US national debt is currently 34.5 trillion dollars (3/22/24). In 2000, it was 5.6 trillion.

I have done some research and can point to the following for what caused the national debt to get so high

1. The Bush and Trump tax cuts: 10 trillion
2. War on Terror: 8 trillion
3. 2009 Stimulus: 831 billion
4. 2008 TARP: 475 billion
5. Mar 2020 CARES Act: 2.2 trillion
6. Dec 2020 CARES Act: 900 billion
7. ARP 2021: 1.9 trillion

Thats about 4.5 trillion left over I couldn't find why. Apprently its a combination of higher spending on welfare and foodstamps during the Great Recession combined with higher spending on Medicare and Social Security with retiring boomers

Thoughts?

Sources
https://www.americanprogress.org/article/tax-cuts-are-primarily-responsible-for-the-increasing-debt-ratio/#:~:text=Taken%20together%2C%20the%20Bush%20tax,the%20debt%20ratio%20since%20then.

https://www.brown.edu/news/2021-09-01/costsofwar

Edit: I've done some more research

Apparently, the Great Recession lowered tax revenue by about 1.6 trillion from 2008-13

Social security and Medicare spending also increase by 109 billion in the 2015-2017 period as more people retired but revenue levels stayed the same


For 2023, the deficit was 1.7 trillion. In FY 2022, it was 1.4 trillion. Despite spending being cut by 200 million, revenues were cut by 400 million

So, thats an additional 300 million added to the debt

So about 2 trillion still accounted for

[Benjamin Frank 2.0]

The US national debt is currently 34.5 trillion dollars (3/22/24). In 2000, it was 5.6 trillion.

I have done some research and can point to the following for what caused the national debt to get so high

1. The Bush and Trump tax cuts: 10 trillion
2. War on Terror: 8 trillion
3. 2009 Stimulus: 831 billion
4. 2008 TARP: 475 billion
5. Mar 2020 CARES Act: 2.2 trillion
6. Dec 2020 CARES Act: 900 billion
7. ARP 2021: 1.9 trillion

Thats about 4.5 trillion left over I couldn't find why. Apprently its a combination of higher spending on welfare and foodstamps during the Great Recession combined with higher spending on Medicare and Social Security with retiring boomers

Thoughts?

Sources
https://www.americanprogress.org/article/tax-cuts-are-primarily-responsible-for-the-increasing-debt-ratio/#:~:text=Taken%20together%2C%20the%20Bush%20tax,the%20debt%20ratio%20since%20then.

https://www.brown.edu/news/2021-09-01/costsofwar

In September 2008, the federal government through the the Federal Housing Finance Agency (FHFA) announced that it would take over the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).

The debts of Fannie Mae and Freddie Mac had not previously been included as part of the U.S government Federal debt. If I recall correctly, that increased the U.S federal debt by somewhere between $4-6 trillion.

It seems those two agencies have paid off some of their debts since.

[Pres Mike]

The US national debt is currently 34.5 trillion dollars (3/22/24). In 2000, it was 5.6 trillion.

I have done some research and can point to the following for what caused the national debt to get so high

1. The Bush and Trump tax cuts: 10 trillion
2. War on Terror: 8 trillion
3. 2009 Stimulus: 831 billion
4. 2008 TARP: 475 billion
5. Mar 2020 CARES Act: 2.2 trillion
6. Dec 2020 CARES Act: 900 billion
7. ARP 2021: 1.9 trillion

Thats about 4.5 trillion left over I couldn't find why. Apprently its a combination of higher spending on welfare and foodstamps during the Great Recession combined with higher spending on Medicare and Social Security with retiring boomers

Thoughts?

Sources
https://www.americanprogress.org/article/tax-cuts-are-primarily-responsible-for-the-increasing-debt-ratio/#:~:text=Taken%20together%2C%20the%20Bush%20tax,the%20debt%20ratio%20since%20then.

https://www.brown.edu/news/2021-09-01/costsofwar

In September 2008, the federal government through the the Federal Housing Finance Agency (FHFA) announced that it would take over the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).

The debts of Fannie Mae and Freddie Mac had not previously been included as part of the U.S government Federal debt. If I recall correctly, that increased the U.S federal debt by somewhere between $4-6 trillion.

It seems those two agencies have paid off some of their debts since.

I see, yeah further research does not show Fannie Mae and Freddie Mac in the total US debt. I think it was probably in a different category. My research also shows it was largely repaid

I still want to know where 5 trillion in additional debt comes from that is largely unaccounted for

[Benjamin Frank 2.0]

The US national debt is currently 34.5 trillion dollars (3/22/24). In 2000, it was 5.6 trillion.

I have done some research and can point to the following for what caused the national debt to get so high

1. The Bush and Trump tax cuts: 10 trillion
2. War on Terror: 8 trillion
3. 2009 Stimulus: 831 billion
4. 2008 TARP: 475 billion
5. Mar 2020 CARES Act: 2.2 trillion
6. Dec 2020 CARES Act: 900 billion
7. ARP 2021: 1.9 trillion

Thats about 4.5 trillion left over I couldn't find why. Apprently its a combination of higher spending on welfare and foodstamps during the Great Recession combined with higher spending on Medicare and Social Security with retiring boomers

Thoughts?

Sources
https://www.americanprogress.org/article/tax-cuts-are-primarily-responsible-for-the-increasing-debt-ratio/#:~:text=Taken%20together%2C%20the%20Bush%20tax,the%20debt%20ratio%20since%20then.

https://www.brown.edu/news/2021-09-01/costsofwar

In September 2008, the federal government through the the Federal Housing Finance Agency (FHFA) announced that it would take over the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).

The debts of Fannie Mae and Freddie Mac had not previously been included as part of the U.S government Federal debt. If I recall correctly, that increased the U.S federal debt by somewhere between $4-6 trillion.

It seems those two agencies have paid off some of their debts since.

I see, yeah further research does not show Fannie Mae and Freddie Mac in the total US debt. I think it was probably in a different category. My research also shows it was largely repaid

I still want to know where 5 trillion in additional debt comes from that is largely unaccounted for

Fannie Mae and Feddie Mac repaid $5 trillion? Wow.

[Pres Mike]

The US national debt is currently 34.5 trillion dollars (3/22/24). In 2000, it was 5.6 trillion.

I have done some research and can point to the following for what caused the national debt to get so high

1. The Bush and Trump tax cuts: 10 trillion
2. War on Terror: 8 trillion
3. 2009 Stimulus: 831 billion
4. 2008 TARP: 475 billion
5. Mar 2020 CARES Act: 2.2 trillion
6. Dec 2020 CARES Act: 900 billion
7. ARP 2021: 1.9 trillion

Thats about 4.5 trillion left over I couldn't find why. Apprently its a combination of higher spending on welfare and foodstamps during the Great Recession combined with higher spending on Medicare and Social Security with retiring boomers

Thoughts?

Sources
https://www.americanprogress.org/article/tax-cuts-are-primarily-responsible-for-the-increasing-debt-ratio/#:~:text=Taken%20together%2C%20the%20Bush%20tax,the%20debt%20ratio%20since%20then.

https://www.brown.edu/news/2021-09-01/costsofwar

In September 2008, the federal government through the the Federal Housing Finance Agency (FHFA) announced that it would take over the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).

The debts of Fannie Mae and Freddie Mac had not previously been included as part of the U.S government Federal debt. If I recall correctly, that increased the U.S federal debt by somewhere between $4-6 trillion.

It seems those two agencies have paid off some of their debts since.

I see, yeah further research does not show Fannie Mae and Freddie Mac in the total US debt. I think it was probably in a different category. My research also shows it was largely repaid

I still want to know where 5 trillion in additional debt comes from that is largely unaccounted for

Fannie Mae and Feddie Mac repaid $5 trillion? Wow.

I don't think it was 5 trillion they owed, that was the amount of existing loans they managed. The actual debt they needed to repay to be solvent was much lower

[Benjamin Frank 2.0]

The US national debt is currently 34.5 trillion dollars (3/22/24). In 2000, it was 5.6 trillion.

I have done some research and can point to the following for what caused the national debt to get so high

1. The Bush and Trump tax cuts: 10 trillion
2. War on Terror: 8 trillion
3. 2009 Stimulus: 831 billion
4. 2008 TARP: 475 billion
5. Mar 2020 CARES Act: 2.2 trillion
6. Dec 2020 CARES Act: 900 billion
7. ARP 2021: 1.9 trillion

Thats about 4.5 trillion left over I couldn't find why. Apprently its a combination of higher spending on welfare and foodstamps during the Great Recession combined with higher spending on Medicare and Social Security with retiring boomers

Thoughts?

Sources
https://www.americanprogress.org/article/tax-cuts-are-primarily-responsible-for-the-increasing-debt-ratio/#:~:text=Taken%20together%2C%20the%20Bush%20tax,the%20debt%20ratio%20since%20then.

https://www.brown.edu/news/2021-09-01/costsofwar

In September 2008, the federal government through the the Federal Housing Finance Agency (FHFA) announced that it would take over the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).

The debts of Fannie Mae and Freddie Mac had not previously been included as part of the U.S government Federal debt. If I recall correctly, that increased the U.S federal debt by somewhere between $4-6 trillion.

It seems those two agencies have paid off some of their debts since.

I see, yeah further research does not show Fannie Mae and Freddie Mac in the total US debt. I think it was probably in a different category. My research also shows it was largely repaid

I still want to know where 5 trillion in additional debt comes from that is largely unaccounted for

Fannie Mae and Feddie Mac repaid $5 trillion? Wow.

I don't think it was 5 trillion they owed, that was the amount of existing loans they managed. The actual debt they needed to repay to be solvent was much lower

It could be. It could also be that the debt that they owed has been amortized into the already existing U.S debt rather than left on its own. I remember in 2009/2010 when the federal government took control of Fannie Mae and Freddie Mac that their debt was added into the U.S Federal debt in one go and the U.S debt climbed from something like $8 to $14 trillion. So, the numbers we see now may have been revised since then.

It's also true that some of that $5-6 trillion may not have been 'bad debt' and that they've also repaid some of it since. I would still expect that some of the 'missing debt' is from Fannie Mae and Freddie Mac.

[President Johnson]

"Fiscal responsible Republicans"

"Tax and spend Democrats"