Today's unprecedented $31 trillion national debt has been building for decades. See how much each president racked up from Richard Nixon to Joe Biden.
, Anna Moneymakers /Getty Images / Getty Images)Following Nixon, Republican Gerald Ford was able to tack another $223.8 billion onto the debt in only three years in office during a period of stagflation. Democrat Jimmy Carter added $299 million during his single term, marred by a recession.Ronald Reagan was the first president to push debt accumulation into the trillions, contributing $1.86 trillion to what the U.S. owed during his terms from 1981 to 1989.
President Bill Clinton, left, and Speaker of the House Newt Gingrich share a few words on June 4, 1998. Spending surged again, however, under GOP President George W. Bush when another $6.1 trillion was added to the debt from 2001-2009. Bush was president during the terrorist attacks on the U.S. on Sept. 11, 2001, which led to the U.S. war in Afghanistan that lasted 20 years. The U.S. also launched the Iraq War under Bush in 2008, and Congress famously passed a $700 billion bank bailout during his tenure in reaction to the financial crash of 2008.
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