US Ends 2012 With 103.8% Debt To GDPby Tyler Durden
Jan. 31, 2013
MAGA Hat Thief Edith Macias Faces Up to One Year in Jail After DA Files Charge
Moore Campaign: Key Witnesses 'Completely Bust' Story Of Beverly Young Nelson And Gloria Allred
'Problematic' Makeup Removing App 'MakeApp' Causes Mass Triggering
Marshawn Lynch Stands Only For Mexican National Anthem
Charlie Rose, Loyal Servant To The Establishment, Taken Down By Sexual Harassment Claims
Previously, when calculating debt/GDP metrics for the US, we naturally assumed some GDP growth in Q4. Following today's GDP data we now know what Q4 GDP is. We also know that, at least on a preliminary basis, it posted a decline on an annualized basis. This means that we now have an official print for US Debt/GDP as of December 31, 2012. The numerator, or debt: $16.432 trillion, or the debt ceiling, which as we know was breached on the same day, and which has yet to be formally raised. The denominator, or GDP: $15.829 trillion. This means that the formal debt/GDP is now 103.8% and growing fast.