Elected Politicians – Biggest Borrowers

Increase in Debt, GDP and the Excess (-) During Tenure

The following table discloses for each current (C) and past (P) member of the 115th, 116th, 117th and 118th Congress (House (H) and Senate(S)) and president (E) during those times, the amount in trillions of dollars ($T) of debt  incurred on behalf of U.S. Taxpayers relative to the change in Gross Domestic Product (GDP) and the difference while she or he was in office to December 31, 2022.

The debt is the Total Public Debt Outstanding at December 31, 2022 of $31.4 Trillion for current members (C) and the debt for each past member is the the debt on day the member left office (P), minus the debt (or in some cases the approximate debt) when that member first assumed office. Adjustments were made for those members who left office and returned. A similar calculation was used for Gross Domestic Product.

The amount of debt is the Total Public Debt Outstanding from the US Treasury’s “Debt to the Penny” website. It does not include the costs of accrued expenses, present value of federal pensions, certain government guaranteed entities and the present value of unfunded, future obligations for social insurance (social security and medicare) incurred during their tenure. For many members this will add tens of trillions of dollars to their total. The Securities and Exchange Commission and Generally Accepted Accounting Principles (GAAP) would require a public corporation to include these amounts on their balance sheet as would the Government Accounting Standards Board for states, cities and municipalities. The Financial Accounting Standards Advisory Board (FASAB) which only establishes accounting standards for the federal government does not require the federal government to do so. The GDP was calculated using the Bureau of Economic Analysis – Current Dollar GDP Advance Estimate.

To the best of our knowledge, no Elected Politician has taken credit or ownership for our skyrocketing national debt.  If a member of Congress believes the amount of debt or GDP attributed to her or him is different, the member may submit written documentation for review to support their calculation. When reviewed, and if accepted, the amounts attributed to that Elected Politician will be adjusted accordingly. In the meantime, they will be credited with the full amount borrowed during their tenure representing US taxpayers.

At 12/31/22 – Total Public Debt Outstanding was $30.4 Trillion and GDP was was approximately $25.5 Trillion (Current Dollars Estimate)

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