US Debt in real time

[nicoff]

Originally Posted by Alki

That chart is not the national debt in dollars. It even states it right below the graph. It is "Federal debt held by the public as a percentage of GDP".

I am not an economist and I am sure that there are many charts to pick. Clinton raised taxes and tied to his other economic policies, the national debt trended down. Bush lowered taxes and started two foreign wars that cost us plenty. So it is no wonder that the national debt went up under his watch.
The national debt is what it is. No political party is clean.

[Douglas]

Originally Posted by PHC1

U.S. National Debt Clock : Real Time

Very cool. I would love to see this for my country.

[cma29]

You have to look at the debt as a percentage of annual GDP which in 2016 is about $18 trillion for the U.S.. The GDP in 1990 was $6 trillion, so a threefold increase in 25 years.

[GaryProtein]

The debt will never be repaid.

They should just zero it out and have a balanced budget.

Stuff will get cut and go by the wayside, some people will suffer, but that's just tough nuggies.

We have to get this fixed.

[GaryProtein]

Originally Posted by Douglas

Very cool. I would love to see this for my country.

At the upper left corner above the US National Debt, there is a box that says WORLD DEBT CLOCKS.

It shows other countries.



edit: I just clicked it. South Africa isn't shown.

[Alki]

Originally Posted by cma29

You have to look at the debt as a percentage of annual GDP which in 2016 is about $18 trillion for the U.S.. The GDP in 1990 was $6 trillion, so a threefold increase in 25 years.

IMO using the percentage of GDP is a governments way of trying to justify that the debt is not all that bad. Keep in mind that GDP could change and ultimately the percentage would change but the government still owes the debt. The bottom line is that the debt is spinning out of control with no end in sight.

What percentage do you consider acceptable? Ask several economists and you will get different answers, ask accountants and you will probably get a more conservative answer.

[Mike1998]

https://www.cbo.gov/sites/default/fi...tory_print.pdf

[Mike1998]

https://www.cbo.gov/sites/default/fi...tReduction.pdf


Interesting reading. Interest payments on debt are up to almost 10% off all revenue collected. The CBO illustrates very clearly why the current way of doing things is unsustainable...

[Douglas]

Originally Posted by GaryProtein

At the upper left corner above the US National Debt, there is a box that says WORLD DEBT CLOCKS.

It shows other countries.



edit: I just clicked it. South Africa isn't shown.

Thanks, Gary, Probably tricky to get South Africa's Numbers

[quinlanmw]

Congress controls the purse strings. Of note, last month the Congress passed and the President signed a budget that adds $700 billion to the deficit, nearly as large as the controversial stimulus package in 2009.

This news was duly reported and resulted in nary a whimper of outcry. Unbelievable.