Yay! US debt just exceeded annual GDP for first time ever. Thank you Mr. Trump!
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Date: May 1st, 2026 12:54 PM Author: Hairraiser big-titted sound barrier trailer park
https://finance.yahoo.com/economy/article/americas-national-debt-is-now-larger-than-the-entire-economy-171830542.html
The US national debt passed another grim milestone Thursday when the latest data showed that government debt held by the public — the most conservative way to measure what is owed — has surpassed America’s total annual economic output.
As of Tuesday, government debt held by the public is about $31.27 trillion, according to the US Treasury. Meanwhile, the US nominal gross domestic product (GDP) from April 1, 2025, to March 31, 2026, was an estimated $31.22 trillion, according to new Commerce Department data released Thursday.
Already in this fiscal year, which began last October, the US has spent $1.17 trillion more than it has collected, according to the federal government, with the annual deficit projected to grow to nearly $2 trillion in the coming months.
(http://www.autoadmit.com/thread.php?thread_id=5862459&forum_id=2Reputation#49856941) |
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