Failcascade

Endgame ahead

US GDP-to-debt crosses 100%

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Well isn’t that just swell? For the first time in 70 years the US debt/GDP today crossed above 100%. Almost exactly one year after the US downgrade at the beginning of August 2011. Happy Anniversary, I guess!

According to the latest data available from the Bureau of Economic Analysis (GDP at 6-30-12), U.S. Treasury (Public Debt at 8-2-12), and U.S. Census Bureau (Population at 8-4-12):
Public Debt $15.921 trillion
GDP $15.596 trillion
Population 314.090 million
Annualized Interest Expense $501.157 billion
Effective Interest Rate 3.39%

And the outlook at the current rate of progression? (Thanks to ZH)

2016:

  • Total US debt: $22.2 trillion (an increase of over $6 trillion from today)
  • Total debt per US taxpayer: $180,000
  • Debt to GDP: 130% (30% higher than today)
  • Food stamp recipients: 50 million
  • M2: $14.3 trillion (an increase of over $4 trillion from today)

and:

  • Total US Unfunded liabilities of $147 trillion (or $1.2 million per taxpayer)
  • $950 trillion in currency and credit derivatives, margined courtesy of TBTF banks’ cash deposits.

Written by mo

August 5th, 2012 at 10:46 pm

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