Thursday, October 1, 2020

$21 Trillion in Debt Held By the Public

 As of 9/30/20, the Debt Held By the Public was at $21,018,952,080,385.63 (Source).  It exceeded $20 trillion on 6/3/20, about 4 months ago.  The public debt was at $16.2 trillion on 7/31/19, only 14 months ago, so it has increased $4.8 trillion since then.  It should hit $22 trillion about 5/1/2021, unless there is another stimulus package, which there probably will be.

When was the public debt at $10.5 trillion, half of the current amount?  That was on 1/30/2012.  So it took 8 years and 8 months to double.  Let's just call it 9 years.  So on 9/30/2029, the public debt will be $42 trillion, if current trends continue. 

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The total national debt hit $27 trillion on 10/1/2020.  It was at $13.5 trillion on 9/30/2010, 10 years ago.  So, if current trends continue, it will be at $54 trillion on 10/1/2030.

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