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As of September 30, 2014, debt held by the public was approximately $12.8 trillion. Intra-governmental debt, such as the Social Security trust fund, was at $5.0 trillion, giving a combined public debt or national debt of $17.8 trillion or about 105% GDP. [9] The debt-to-GDP ratio is projected to continue rising if the U.S. continues current ...
Penn Wharton Budget Model analysis outlines policies the Trump administration could pursue to reduce the long-term growth of the national debt while spurring additional economic growth.
It publishes a monthly "Debt position and activity report" which includes the debt held by the public, the intra-governmental debt, and national debt ("Total public debt outstanding"). As of December 31, 2016, these amounts were: Debt held by the public: $14.43 trillion. Intra-governmental debt: $5.54 trillion. National debt: $19.97 trillion. [50]
In March 2017 they wrote of rising national debt, "Both parties have contributed to the problem, and leaders in both are unwilling to ruffle feathers and make the tough choices needed." [ 6 ] They said of gross national debt exceeding $22 trillion in February 2019, "This milestone is another sad reminder of the inexcusable tab our nation's ...
While budget deficits have historically averaged 3 percent of GDP—ensuring the debt grows no faster than the overall economy—the deficit reached 7.5 percent of GDP last year and is projected ...
Today, the national debt actually exceeds the GDP of the entire U.S. economy, hitting $33.84 trillion. In the past few years, the national debt has risen dramatically due to increased spending on ...
Since then, the federal debt has ballooned from $0.5 trillion to $36 trillion — from 20 percent to 120 percent of GDP. In essence, every American man, woman and child now living owes $100,000 in ...
The Joint Select Committee on Deficit Reduction, [1] colloquially referred to as the Supercommittee, was a joint select committee of the United States Congress, created by the Budget Control Act of 2011 on August 2, 2011. This act was intended to prevent the sovereign default that could have resulted from the 2011 United States debt-ceiling crisis.
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