Brought to you by the food stamp president
Not to worry, the president will not rest until the US is once again upon the path to economic and financial recovery. That will have to wait however until he’s back from his multi-million US taxpayer funded vacation to Hawaii.
It’s Official: US Debt-To-GDP Passes 100%
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!
I. Total debt as of December 20: $15,131,979,264,288,80 (source)
II. Net cash settlement of all completed auctions: $50,777,000,000 (source)
III. Total GDP: $15,180,900,000,000 (source)
=> Total Debt/GDP= $15,182,756,264,288.80/$15,180,900,000,000 = 100.012%