Josh-Daniel S. Davis (joshdavis) wrote,
Josh-Daniel S. Davis
joshdavis

National Debt...

Shooman did some legwork and told me this:
The national debt clock website reports the Outstanding Public Debt as of 26 Oct 2010 at 01:03:09 PM GMT is: $ 13,682,716,591,148.67, The estimated population of the United States is 309,363,683 so each citizen's share of this debt is $44,228.58. The National Debt has continued to increase an average of $4.16 billion per day since September 28, 2007!

Also Wiki lists:
As of October 10, 2010, the "Total Public Debt Outstanding" was approximately 94% of annual GDP, ($13.616 Trillion) with the constituent parts of the debt ("Debt held by the Public") being approximately 66% of GDP ($9.01 Trillion) and "Intergovernmental Debt" standing at 34% of GDP .[2][3] The United States has the 20th highest debt to GDP ratio of all nations, and has the fourth highest of the G8 Nations

This was prompted by an Esquire article about a group who spent 3 days working on a high level budget with the target of balancing the budget and dropping national debt to 60% of GDP by 2020. The article is here:
http://www.esquire.com/blogs/politics/balance-federal-budget-101310

The Final Numbers:
Total Projected Revenues in 2020: $4.693 trillion (20.8% of GDP)
Total Projected Spending in 2020: $4.681 trillion (20.8% of GDP)
Total Projected Surplus in 2020: $12 billion
Projected Debt-to-GDP Ratio in 2020: 52%

Details: http://www.esquire.com/blogs/politics/federal-budget-statistics-1110
Tags: government, money
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