Difference between revisions of "National debt of the United States"

From Conservapedia
Jump to: navigation, search
m (→‎Further reading)
(img)
Line 1: Line 1:
 +
[[File:Obama deficits 2009-2010.JPG|275px|right|thumb|Under President Obama, the federal deficit is approaching 100% of [[Gross Domestic Product]] (GDP). The Greek Debt Crisis of 2010 was preciptated when the Greek deficit reached 115% of GDP.]]
 
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 10.7 trillion dollars. <ref>http://www.treasurydirect.gov/NP/BPDLogin?application=np</ref>
 
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 10.7 trillion dollars. <ref>http://www.treasurydirect.gov/NP/BPDLogin?application=np</ref>
  

Revision as of 18:52, October 16, 2010

Under President Obama, the federal deficit is approaching 100% of Gross Domestic Product (GDP). The Greek Debt Crisis of 2010 was preciptated when the Greek deficit reached 115% of GDP.

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 10.7 trillion dollars. [1]

Debt of the US

In January 20, 2001; the same year of George W. Bush's inauguration into office, the national debt of the United States was 5.7 trillion dollars and by the end of his run in office (January 19, 2009) it was at 10.6 trillion dollars. [2]

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.[3] The US Debt to GDP ratio is getting larger, as the US economy's debt is growing faster than the GDP.[4] 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. ↑ National Debt burden: Full history 29-Jan-05
  4. ↑ Steve McGourty United States National Debt (1938 to Present)May 6, 2007

Further reading

Retrieved from "https://conservapedia.com/index.php?title=National_debt_of_the_United_States&oldid=823148"