US debt exceeds 100 percent of GDP
Summary
The U.S. national debt has grown to more than 100 percent of the country’s total economy, called gross domestic product (GDP). This means the debt is now larger than the value of all goods and services produced in the U.S. in one year.Key Facts
- The national debt reached 100.2 percent of GDP at the end of March.
- This level of debt surpasses the total annual economic output of the U.S.
- The last time debt was this high was right after World War II, at 106 percent of GDP.
- Data was released by the Bureau of Economic Analysis.
- The rising debt could approach or exceed the post-WWII record soon.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.