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Today, the national debt is approaching $28 trillion while the GDP is only a little more than $21 trillion. An ugly, upside-down debt-to-GDP ratio like that is a turnoff to investors for obvious ...
Balancing the budget is virtually impossible, and even stabilizing the long-term debt at today's 100 percent of GDP requires wildly unpopular changes to Social Security and Medicare (and will ...
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 ...
That’s basically how we got from a $6 trillion national debt in 2001 to a $33 trillion debt in 2023. So what’s the plan? There are a variety of ways to get the debt under control. It doesn’t ...
At $33 trillion and counting — actually, it's presently above $33.75 trillion — America’s national debt is astonishingly high. But government deficits don’t exactly work like household ...
The U.S. government’s gross national debt has surpassed $34 trillion, a new record. ... Economists don’t agree on how worrisome the debt levels are today, but studies show an increasing number ...
The national debt was up to $80,885 per person as of 2020. [153] The national debt equated to $59,143 per person U.S. population, or $159,759 per member of the U.S. working taxpayers, back in March 2016. [154] In 2008, $242 billion was spent on interest payments servicing the debt, out of a total tax revenue of $2.5 trillion, or 9.6%. Including ...
The U.S. national debt is nearing $33 trillion, but Janet Yellen isn’t worried just yet. The Treasury Secretary pointed to a key statistic on Monday that, she believes, illustrates that the ...