From the June 2003 Idaho Observer:

U.S. spending: A tool to bankrupt Americans

There is no legitimate reason compelling a government of the people to borrow funds from private bankers to finance its operations. Once government begins to borrow from bankers, it becomes indebted to them. Government, which produces nothing except debt, is not capable of repaying borrowed funds; it must harness the labors of the people to generate the funds necessary to service its debts. In this manner, government has no incentive to be fiscally responsible; it spends and spends and places the burden of its reckless spending on the shoulders of the people. One must only review the history of U.S. public indebtedness to see the truth of our collective fiscal plight. The numbers below beg the questions: “Where will it end? At what point will the government have collateralized all the assets of the American people into foreclosure and who will our creditors hire to seize our combined properties? The following information was taken from the U.S. Bureau of the Public Debt (www.publicdebt.treas.gov/opd/opd.htm).

1950-2000

Date        Amount

09/30/2000     $5,674,178,209,886.86

09/30/1999     5,656,270,901,615.43

09/30/1998     5,526,193,008,897.62

09/30/1997     5,413,146,011,397.34

09/30/1996     5,224,810,939,135.73

09/29/1995     4,973,982,900,709.39

09/30/1994     4,692,749,910,013.32

09/30/1993     4,411,488,883,139.38

09/30/1992     4,064,620,655,521.66

09/30/1991     3,665,303,351,697.03

09/28/1990     3,233,313,451,777.25

09/29/1989     2,857,430,960,187.32

09/30/1988     2,602,337,712,041.16

09/30/1987     2,350,276,890,953.00

09/30/1986     2,125,302,616,658.42

12/31/1985     1,945,941,616,459.88

12/31/1984     1,662,966,000,000.00 *

12/31/1983     1,410,702,000,000.00 *

12/31/1982     1,197,073,000,000.00 *

12/31/1981     1,028,729,000,000.00 *

12/31/1980     930,210,000,000.00 *

12/31/1979     845,116,000,000.00 *

12/29/1978     789,207,000,000.00 *

12/30/1977     718,943,000,000.00 *

12/31/1976     653,544,000,000.00 *

12/31/1975     576,649,000,000.00 *

12/31/1974     492,665,000,000.00 *

12/31/1973     469,898,039,554.70

12/29/1972     449,298,066,119.00

12/31/1971     424,130,961,959.95

12/31/1970     389,158,403,690.26

12/31/1969     368,225,581,254.41

12/31/1968     358,028,625,002.91

12/29/1967     344,663,009,745.18

12/30/1966     329,319,249,366.68

12/31/1965     320,904,110,042.04

12/31/1964     317,940,472,718.38

12/31/1963     309,346,845,059.17

12/31/1962     303,470,080,489.27

12/29/1961     296,168,761,214.92

12/30/1960     290,216,815,241.68

12/31/1959     290,797,771,717.63

12/31/1958     282,922,423,583.87

12/31/1957     274,897,784,290.72

12/31/1956     276,627,527,996.11

12/30/1955     280,768,553,188.96

12/31/1954     278,749,814,391.33

12/31/1953     275,168,120,129.39

06/30/1953     266,071,061,638.57

06/30/1952     259,105,178,785.43

06/29/1951     255,221,976,814.93

06/30/1950     257,357,352,351.04

* Figures rounded in millions

Discussion: The national debt has increased by over $1 trillion in the last three years. Even during the Korean and Vietnam wars the debt increased almost every year, but the increase was steady -- between two and eight billion dollars annually.

After the war in Vietnam in the early 70s, the debt began to increase exponentially. In 1981 we hit a $trillion.

1900-1949

Date        Amount

06/30/1949    252,770,359,860.33

06/30/1948     252,292,246,512.99

06/30/1947     258,286,383,108.67

06/28/1946     269,422,099,173.26

06/30/1945     258,682,187,409.93

06/30/1944     201,003,387,221.13

06/30/1943     136,696,090,329.90

06/30/1942     72,422,445,116.22

06/30/1941     48,961,443,535.71

06/29/1940     42,967,531,037.68

06/30/1939     40,439,532,411.11

06/30/1938     37,164,740,315.45

06/30/1937     36,424,613,732.29

06/30/1936     33,778,543,493.73

06/29/1935     28,700,892,624.53

06/30/1934     27,053,141,414.48

06/30/1933     22,538,672,560.15

06/30/1932     19,487,002,444.13

06/30/1931     16,801,281,491.71

06/30/1930     16,185,309,831.43

06/29/1929     16,931,088,484.10

06/30/1928     17,604,293,201.43

06/30/1927     18,511,906,931.85

06/30/1926     19,643,216,315.19

06/30/1925     20,516,193,887.90

06/30/1924     21,250,812,989.49

06/30/1923     22,349,707,365.36

06/30/1922     22,963,381,708.31

06/30/1921     23,977,450,552.54

07/01/1920     25,952,456,406.16

07/01/1919     27,390,970,113.12

07/01/1918     14,592,161,414.00

07/01/1917     5,717,770,279.52

07/01/1916     3,609,244,262.16

07/01/1915     3,058,136,873.16

07/01/1914     2,912,499,269.16

07/01/1913     2,916,204,913.66

07/01/1912     2,868,373,874.16

07/01/1911     2,765,600,606.69

07/01/1910     2,652,665,838.04

07/01/1909     2,639,546,241.04

07/01/1908     2,626,806,271.54

07/01/1907     2,457,188,061.54

07/01/1906     2,337,161,839.04

07/01/1905     2,274,615,063.84

07/01/1904     2,264,003,585.14

07/01/1903     2,202,464,781.89

07/01/1902     2,158,610,445.89

07/01/1901    2,143,326,933.89

07/01/1900     2,136,961,091.67

Discussion: The effect of war and the national debt is readily seen during the period of 1900-1949. From the turn-of-the century until 1916 the debt kept climbing by a few $million a year. The debt jumped by over $2 billion during the first year of our involvement in WWI, then almost tripled to $14.592 billion by 1918; almost doubling again to nearly $28 billion in 1919.

The nation was whittling down its WWI debt and was just a few billion dollars away from reaching its pre-WWI level of indebtedness when the Great Depression began. Through the Depression Era the debt climbed at an average of $3 billion a year. Then the Japanese were allowed to bomb Pearl Harbor and our involvement in WWII began. Between 1940 and 1946, the U.S. debt had increased by some $226 billion.

1850-1899

Date        Amount

07/01/1899     1,991,927,306.92

07/01/1898     1,796,531,995.90

07/01/1897     1,817,672,665.90

07/01/1896     1,769,840,323.40

07/01/1895     1,676,120,983.25

07/01/1894     1,632,253,636.68

07/01/1893     1,545,985,686.13

07/01/1892     1,588,464,144.63

07/01/1891     1,545,996,591.61

07/01/1890     1,552,140,204.73

07/01/1889     1,619,052,922.23

07/01/1888     1,692,858,984.58

07/01/1887     1,657,602,592.63

07/01/1886     1,775,063,013.78

07/01/1885     1,863,964,873.14

07/01/1884     1,830,528,923.57

07/01/1883     1,884,171,728.07

07/01/1882     1,918,312,994.03

07/01/1881     2,069,013,569.58

07/01/1880     2,120,415,370.63

07/01/1879     2,349,567,482.04

07/01/1878     2,256,205,892.53

07/01/1877     2,205,301,392.10

07/01/1876     2,180,395,067.15

07/01/1875     2,232,284,531.95

07/01/1874     2,251,690,468.43

07/01/1873     2,234,482,993.20

07/01/1872     2,253,251,328.78

07/01/1871     2,353,211,332.32

07/01/1870     2,480,672,427.81

07/01/1869     2,588,452,213.94

07/01/1868     2,611,687,851.19

07/01/1867     2,678,126,103.87

07/01/1866     2,773,236,173.69

07/01/1865     2,680,647,869.74

07/01/1864     1,815,784,370.57

07/01/1863     1,119,772,138.63

07/01/1862     524,176,412.13

07/01/1861     90,580,873.72

07/01/1860     64,842,287.88

07/01/1859     58,496,837.88

07/01/1858     44,911,881.03

07/01/1857     28,699,831.85

07/01/1856     31,972,537.90

07/01/1855     35,586,956.56

07/01/1854     42,242,222.42

07/01/1853     59,803,117.70

07/01/1852     66,199,341.71

07/01/1851     68,304,796.02

07/01/1850     63,452,773.55

Discussion: During this period the national debt climbed from $63 million to almost $2 billion. A few significant events can be identified to account for this increase. Debts that had been increasing since President Jackson fought off the bankers in the 1830s rose to a zenith of $68.3 million by 1851. Pre-Civil War prosperity had knocked the debt back to $28.7 million in 1857. Then it started climbing again as the U.S. government began its westward expansion -- fighting Indians along the way.

Between 1857 and 1861 the debt had multiplied fourfold. Then the Union dramatically increased its spending to prevent the South from seceding. The debt increased 30 percent between 1860 and 1861, then lept to $524.2 million in 1862, then it doubled again to $1.2 billion by 1863.

Civil War/Reconstruction-era debt kept increasing until it maxed out at $2.73 billion in 1866. By 1891 Americans' productivity by had pared the debt back to $1.46 billion -- close to where it had been around the start of the Civil War 30 years before. And then it began to increase again -- climbing by $446 million over the next eight years as the American west began to grow. From that point on, deficit spenders never looked back.

1791-1849

Date        Amount

07/01/1849    63,061,858.69

07/01/1848     47,044,862.23

07/01/1847     38,826,534.77

07/01/1846     15,550,202.97

07/01/1845     15,925,303.0l

07/01/1844     23,461,652.50

07/01/1843     32,742,922.00

01/01/1843     20,201,226.27

01/01/1842     13,594,480.73

01/01/1841     5,250,875.54

01/01/1840     3,573,343.82

01/01/1839     10,434,221.14

01/01/1838     3,308,124.07

01/01/1837     336,957.83

01/01/1836     37,513.05

01/01/1835     33,733.05

01/01/1834     4,760,082.08

01/01/1833     7,001,698.83

01/01/1832     24,322,235.18

01/01/1831     39,123,191.68

01/01/1830     48,565,406.50

01/01/1829     58,421,413.67

01/01/1828     67,475,043.87

01/01/1827     73,987,357.20

01/01/1826     81,054,059.99

01/01/1825     83,788,432.71

01/01/1824     90,269,777.77

01/01/1823     90,875,877.28

01/01/1822     93,546,676.98

01/01/1821     89,987,427.66

01/01/1820     91,015,566.15

01/01/1819     95,529,648.28

01/01/1818     103,466,633.83

01/01/1817     123,491,965.16

01/01/1816     127,334,933.74

01/01/1815     99,833,660.15

01/01/1814     81,487,846.24

01/01/1813     55,962,827.57

01/01/1812     45,209,737.90

01/01/1811     48,005,587.76

01/01/1810     53,173,217.52

01/01/1809     57,023,192.09

01/01/1808     65,196,317.97

01/01/1807     69,218,398.64

01/01/1806     75,723,270.66

01/01/1805     82,312,150.50

01/01/1804     86,427,120.88

01/01/1803     77,054,686.40

01/01/1802     80,712,632.25

01/01/1801     83,038,050.80

01/01/1800     82,976,294.35

01/01/1799     78,408,669.77

01/01/1798     79,228,529.12

01/01/1797     82,064,479.33

01/01/1796     83,762,172.07

01/01/1795     80,747,587.39

01/01/1794     78,427,404.77

01/01/1793     80,358,634.04

01/01/1792     77,227,924.66

01/01/1791     75,463,476.52

Discussion: This period is punctuated by attempts by international bankers to assume the responsibility of being in control of Americans' money system. The most notable national debt figures in U.S. history are those from 1835 and 1836 -- the last two years of Andrew Jackson's two-term administration.

When President Jackson, opposed to private central banking and government debt, took office in 1829, the national debt was $58.42 million. By the end of his first term he had slashed it to $7 million. By the time he left office, President Jackson had all but eliminated the national debt by getting us within $33,733.05 of solvency.

After one term, President Van Buren, a staunch supporter of Jackson and vice-president since 1832, grew the debt to$5.25 million. President Jackson's desire to keep our monetary system “central bank-free died with his administration.

There are 86,400 seconds in a day. To count to a trillion one second at a time would take just over 11, 574,074 days or about 31,710 years. In just 22 years we have increased our debt five-fold to over $6.5 trillion. One second at a time, it would take 158,549 years of counting to reach 6.5 trillion.