When you run a surplus, the national debt is smaller the following year, than it was this year.
When you run a deficit, the national debt is bigger the following year, than this year.
I was wrong: The national debt went down very slightly, in 1956 and 1957. The government ran a surplus in those two years. And also in 1947 and 1948.
Since 1957, we have never run a surplus. The national debt has increased every year since then, without exception.
The claim that GWB inherited a "surplus", is false.
Source: U.S. Government Treasury records, found at
http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt.htm
------------------------------------------------
National Debt, each year since 1920
Date Dollar Amount
9/30/2008 10,024,724,896,912.40
9/30/2007 9,007,653,372,262.48
9/30/2006 8,506,973,899,215.23
9/30/2005 7,932,709,661,723.50
9/30/2004 7,379,052,696,330.32
9/30/2003 6,783,231,062,743.62
9/30/2002 6,228,235,965,597.16
9/30/2001 5,807,463,412,200.06
9/30/2000 5,674,178,209,886.86
9/30/1999 5,656,270,901,615.43
9/30/1998 5,526,193,008,897.62
9/30/1997 5,413,146,011,397.34
9/30/1996 5,224,810,939,135.73
9/29/1995 4,973,982,900,709.39
9/30/1994 4,692,749,910,013.32
9/30/1993 4,411,488,883,139.38
9/30/1992 4,064,620,655,521.66
9/30/1991 3,665,303,351,697.03
9/28/1990 3,233,313,451,777.25
9/29/1989 2,857,430,960,187.32
9/30/1988 2,602,337,712,041.16
9/30/1987 2,350,276,890,953.00
9/30/1986 2,125,302,616,658.42
9/30/1985 * 1,823,103,000,000.00
9/30/1984 * 1,572,266,000,000.00
9/30/1983 * 1,377,210,000,000.00
9/30/1982 * 1,142,034,000,000.00
9/30/1981 * 997,855,000,000.00
9/30/1980 * 907,701,000,000.00
9/30/1979 * 826,519,000,000.00
9/30/1978 * 771,544,000,000.00
9/30/1977 * 698,840,000,000.00
6/30/1976 * 620,433,000,000.00
6/30/1975 * 533,189,000,000.00
6/30/1974 475,059,815,731.55
6/30/1973 458,141,605,312.09
6/30/1972 427,260,460,940.50
6/30/1971 398,129,744,455.54
6/30/1970 370,918,706,949.93
6/30/1969 353,720,253,841.41
6/30/1968 347,578,406,425.88
6/30/1967 326,220,937,794.54
6/30/1966 319,907,087,795.48
6/30/1965 317,273,898,983.64
6/30/1964 311,712,899,257.30
6/30/1963 305,859,632,996.41
6/30/1962 298,200,822,720.87
6/30/1961 288,970,938,610.05
6/30/1960 286,330,760,848.37
6/30/1959 284,705,907,078.22
6/30/1958 276,343,217,745.81
6/30/1957 270,527,171,896.43
6/30/1956 272,750,813,649.32
6/30/1955 274,374,222,802.62
6/30/1954 271,259,599,108.46
6/30/1953 266,071,061,638.57
6/30/1952 259,105,178,785.43
6/29/1951 255,221,976,814.93
6/30/1950 257,357,352,351.04
6/30/1949 252,770,359,860.33
6/30/1948 252,292,246,512.99
6/30/1947 258,286,383,108.67
6/28/1946 269,422,099,173.26
6/30/1945 258,682,187,409.93
6/30/1944 201,003,387,221.13
6/30/1943 136,696,090,329.90
6/30/1942 *72,422,445,116.22
6/30/1941 *48,961,443,535.71
6/29/1940 *42,967,531,037.68
6/30/1939 *40,439,532,411.11
6/30/1938 *37,164,740,315.45
6/30/1937 *36,424,613,732.29
6/30/1936 *33,778,543,493.73
6/29/1935 *28,700,892,624.53
6/30/1934 *27,053,141,414.48
6/30/1933 *22,538,672,560.15
6/30/1932 *19,487,002,444.13
6/30/1931 *16,801,281,491.71
6/30/1930 *16,185,309,831.43
6/29/1929 *16,931,088,484.10
6/30/1928 *17,604,293,201.43
6/30/1927 *18,511,906,931.85
6/30/1926 *19,643,216,315.19
6/30/1925 *20,516,193,887.90
6/30/1924 *21,250,812,989.49
6/30/1923 *22,349,707,365.36
6/30/1922 *22,963,381,708.31
6/30/1921 *23,977,450,552.54
7/1/1920 *25,952,456,406.16
