With precisely one year left for the world and all of
its inhabitants, at least according to the Mayans, not to mention on the day of
the Winter Solstice, it is only fitting that US debt, net of all settlements
for all already completed bond auctions, is now at precisely
$15,182,756,264,288.80. Why is this relevant? Because the latest annualized US
GDP, according to the BEA, was $15,180,900,000.00. Which means that, as of today, total US debt to
GDP is 100.012%.
Congratulations America: you are now in the triple
digit "debt to GDP" club!
(naturally, this is using purely "on the
books" data. If one adds the NPV of all US liabilities, and adjusts GDP
for such things as today's housing contraction, then the magical triple digit
threshold was breached long, long ago).
And here is the breakdown for the forensically
inclined ones:
II. Net cash settlement of all completed auctions: $50,777,000,000.00 (source):
III. Total GDP: $15,180,900,000,000.00 (source):
=> Total Debt/GDP= $15,182,756,264,288.80/$15,180,900,000,000.00 = 100.012%
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