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In economics, the debt-to-GDP ratio is the ratio between a country's government debt (measured in units of currency) and its gross domestic product (GDP) (measured in units of currency per year). A low debt-to-GDP ratio indicates that an economy produces goods and services sufficient to pay back debts without incurring further debt. [ 1 ]
With GDP of $16.8 trillion in 2013, 1% GDP represents approximately $170 billion. Debt as a percentage of GDP: Debt held by the public ranged between 23% GDP and 50% GDP during the 1971–2007 period, then rose significantly during the Great Recession, ending FY2014 at about 75% GDP. As of September 30, 2014, debt held by the public was ...
E.g. with an advance report of a $400 billion increase of a $10 trillion GDP, for example, one could be 95% confident that the range in which the exact GDP dollar amount lies would be 0.0 to 3.3% different than 4.0% (400 ÷ 10,000) or within the range of $0 to $330 billion different than the hypothetical $400 billion (a range of $70–730 billion).
Spitznagel pointed out that total public household debt hit a record $17 trillion in the second quarter, with non-housing debt hitting an all-time high $4.7 trillion, and the U.S. debt to GDP ...
It’s six times the U.S. debt figure in 2000 ($5.6 trillion). Paid back interest-free at the rate of $1 million an hour, $33 trillion would take more than 3,750 years.
Next year, interest payments will top $1 trillion on national debt of more than $30 trillion, ... And in 2054, debt is forecast to hit 166% of GDP, slowing economic growth.
In 2018, global government debt reached the equivalent of $66 trillion, or about 80% of global GDP, [19] and by 2020, global government debt reached $87US trillion, or 99% of global GDP. [6] The COVID-19 pandemic caused public debt to soar in 2020, particularly in advanced economies that put in place sweeping fiscal measures. [6]
In 1993, for instance, the annual deficit amounted to 3.8% of GDP, and the debt, which seemed astronomically high at a “mere” $4.4 trillion, was Lilliputian by today’s standards. The trend ...