May 20, 2006
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United States public debt
From Wikipedia, the free encyclopedia
(Redirected from U.S. public debt)
The history of the United States national debt, relative to gross domestic product, since 1900.
The United States public debt, commonly called the national debt, gross federal debt or U.S. government debt, is the amount of money owed by the United States federal government to creditors who hold US Debt Instruments. This does not include the money owed by states, corporations, or individuals. As of April 18th, 2006, the total U.S. government debt was $8.395724 trillion.
The CIA’s World Factbook estimated the U.S’s 2005 GDP at $12.41 trillion, ranking it at the time as the 35th most indebted country in the world by percentage of GDP at 64.7% of GDP. By comparison, the Factbook’s 2005 estimate of China’s debt was $242 billion with an estimated 2005 GDP of $8.182 trillion. Of the 206 listed countries in the Factbook the combined debt was $38.54 trillion. Of that world wide debt, the US owes approximately 22%.
The Bureau of the Public Debt, a division of the United States Treasury Department, calculates the amount of money owed by the national government on a daily basis.
Comments (3)
I noticed you deleted my comment about how your graph shows that the defecit was a higher percentage of our country’s GDP under Clinton than it ever has been under Bush. How courageous of you.
Obviously, the Einstein who posted here can’t deal with stick-figures (let alone graphs as sophisticated as the one inquestion). If this imbecile would look at what the NATIONAL DEBT (not the deficit) was as a percentage of GDP beginning in 1980 with Ronald Reagan, he would see (as most people with an IQ above freezing could) that it wasn’t Clinton who began running this country into the fiscal crapper. It was the passage of the 1993 Omnibus Reconciliation Act which balanced our nation’s budget and began to slow the growth of the debt. It was the Clintonistas who began to slow the growth of the debt — and now that we’ve gone right back to Voodoo II under Shrub, the debt has once again begun to mushroom under irresponsible tax cuts for the already wealthy.
Perhaps TruePatriot could post something with a little more depth of analysis next time(?)
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