Friday, March 2nd, 2012 and is filed under News
According to analysis by Americans for Limited Government, our gross federal debt is larger than our GDP, even factoring in recent economic growth.
“Since the beginning of the year, the national debt has grown by $265.58 billion, or about $4.42 billion every day, to $15.488 trillion. That compares with an economy that is probably only growing by about $1.66 billion a day to a current level of about $15.420 trillion.
Therefore, the current debt to GDP ratio is already 100.4 percent — and climbing.”
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