National debt of the United States

From Conservapedia
This is an old revision of this page, as edited by KirjathSepher (Talk | contribs) at 17:38, 1 September 2007. It may differ significantly from current revision.

Jump to: navigation, search

The National Debt is the amount of money the United States government owes various creditors due to deficit spending. The current national debt is approximately 9 trillion dollars. [1]

Debt of the US

In January 20, 1993; the same year of Clinton's inauguration into office, the national debt of the United States was 4.1 trillion dollars and by the end of his run in office (January 19, 2001) it was at 5.7 trillion dollars. [2] By August 8, 2007; the debt has grown to 8.9 trillion dollars.[3]

Debt to GDP Ratio

Instead of measuring an absolute number, the Debt to GDP ratio is the measurement of the national debt as a percentage of the gross domestic product. It is a measure of the debt in relation to the economy and of our capacity to carry and repay debt.[4] The US Debt to GDP ratio is getting larger, as the US economy's debt is growing faster than the GDP.[5] This has not always been the case.

References

  1. http://www.treasurydirect.gov/NP/BPDLogin?application=np
  2. http://www.treasurydirect.gov/NP/NPGateway
  3. http://www.treasurydirect.gov/NP/NPGateway
  4. National Debt burden: Full history 29-Jan-05
  5. Steve McGourty United States National Debt (1938 to Present)May 6, 2007

Further reading