U.S. Debt to GDP 2011


Gross US Debt Surges By $240 Billion Overnight, US Debt To GDP Hits Post World War II High 97.2%, Official Debt Ceiling Increase Only $400 Billion

Tyler Durden on 08/03/2011

Two things happened when the Senate voted in the “Bipartisan” plan into law yesterday: i) deferred debt on the Treasury’s balance sheet finally caught up with reality, and ii) as a result of i) America’s Debt/GDP just hit a post World War 2 High … . Based on the latest gross debt number of $14.581 trillion, and the just reported Q2 GDP of $15.003 billion, total US debt to GDP is now a post World War II high of 97.2% (and that excludes the GSE off balance sheet debt). …

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National Debt Tops $14 Trillion

Posted by Mark Knoller
January 3, 2011 5:57 PM

It took just 7 months for the National Debt to increase from $13 trillion on June 1, 2010 to $14 trillion on Dec. 31. (approaching a govt debt to GDP of 100%. U.S. GDP for 2010 was $14.66 trillion. And according to John Browne, “However, this represents only some 22 percent of Washington’s $62 trillion of unfunded obligations, which include Social Security, Medicare, housing, and other guarantees.” And of course we haven’t added in debt in the private sector.)

(Since everyone always wants to blame the current president, of whom I am no fan, I must say here that this blame-game is a red herring. Fractional reserve banking and lending at interest for profit is the culprit. The math forces a debt balloon to inflate that always gets bigger, and grows at an ever-increasing rate, until the balloon pops. This math will always cause the newest regime to be the biggest borrowers. There can be temporary reverses, but only temporary. Until this money system is dismantled and replaced, the balloon will increase in size until it blows us all up. We will soon see hyper-inflation of the money supply. This will cause price inflation in primary commodities and the cost of manufacture but will not increase consumer purchasing power – so called “cost-push” inflation. This lack of purchasing power will suppress the prices of discretionary items, stall the economy, and bankrupt businesses. A hyper-inflationary depression. You can thank the bankers.)

About icliks

Biding my time in central ms ... yours too, if ur reading this.
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