I was watching Chris Martenson's presentation at Marlboro Graduate School and at about the 11 minute mark he goes into US Debt to GDP. From the graph it looks like we have about 3x as much debt as GDP. However, I cannot verify these numbers and have actually found contradictory numbers. National debt is approaching 13 trillion from what I could find, but GDP seems to be about the same (source was BEA). I don't doubt Chris's numbers, but I'm trying to figure how to back into that graph. Any suggestions?
Debt Ceiling $14.3 Trillion (Are we there yet?) http://en.wikipedia.org/wiki/United_States_public_debt
Unfunded Liabilities $59 Trillion http://www.usatoday.com/news/washington/2007-05-28-federal-budget_N.htm
Our government borrowed all this money.
Debt is about 12.9 tn and if you add in the GSE's (Freddie and Fannie) on the Fed's sheet we are closer to 18 tn - it is breached.
The USA Today link is short, Social Security a 75 year governmental failure which was looted blind is out 14.3 tn, Medicare A & D are 94 tn so all toll it is 108 tn in unfunded liabilities, almost double what the USA Today pegged it at.
Debt to GDP isn't a number I look at because GDP is so baked. We take in 2 trillion and our debt service is about 2 trillion and we can borrow about 2 trillion, if you use GAAP we have nearly a 9 trillion dollar deficit.
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