Below is the US National Debt as a portion of the economy expressed as a graph. Since this graph was created, we have now surpassed World War II levels of debt, pushing debt to over 100% of GDP. You can see the most accurate calculation of national debt, which updates every second as it grows, here: https://www.usdebtclock.org/
The incredible debt size (almost $24 trillion and counting) depicted below was before the $2 trillion stimulus that was just passed to help the economy during the COVID-19 crisis. And now there’s talk of the relief package stretching to $6 trillion more.
I am not piling on, just pointing out that our debt was already out of control as of April 2020, and is now on the rise in a hurry.
Call or email me if you would like to discuss.
Craig
602.954.3762
ccoppola@leearizona.com
Quantifying the National Debt
By James D. Agresti and Rachel McCutcheon
* As of March 25, 2020, the official debt of the United States government is $23.5 trillion, or more precisely, $23,542,522,737,423.[1] This amounts to:
- $71,483 for every person living in the U.S.[2]
- $183,098 for every household in the U.S.[3]
- 108% of the U.S. economy.[4]
- 6.4 times annual federal revenues.[5]
- 46% more than the combined consumer debt of every household in the U.S.[6]
* At the close of 2019, the size of the national debt relative to the U.S. economy was 3.6 times higher than its average over U.S. history:
