U.S. Debt Now Larger Than Whole Economy

The amount owed by the federal government to its creditors, combined with IOUs to government retirement and other schemes, now stands at $15.23 trillion. The government estimated the value of goods and services produced by the economy in a year at $15.17 trillion as of September.

According to long-term forecasts, debt will carry on growing faster than the economy, which would need to expand by at least 6 percent per year to keep pace.

Read More Here: http://www.dailymail.co.uk/news/article-2084353/Size-U-S-debt-entire-economy--15-23-TRILLION.html


Lydia said...

Even though we're dealing with scary numbers, we should also consider how we're doing compared with other countries. Guess what, we're doing better than others. I have high hopes that we will pull through this, just like my loan modification attorney helped me out of my debt situation.

Madeth said...

On the bright side, the president is doing his best to handle the problem. It is just inevitable to apply for loans and debts from banks.

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