The U.S. Public Debt
On January 1, 1790, the United States' public debt stood at $52,788,722.03. It consisted of the debt of the Continental Congress and $191,608.81 borrowed by Secretary of the Treasury Alexander Hamilton in the spring of 1789 from New York banks. [ 1 ]
According to the CIA's World Factbook in 2005 the public debt was 64.7% of GDP. This meant that the U.S. public debt was the 35th largest in the world by percentage of GDP. However in absolute value, the U.S. is worlds largest debtor nation.
[ 1 ] The National Loans of the United States from July 4, 1776, to June 30, 1880, Rafael A. Bayley