The debt is high as balls of course, but really there is no specific significance to reaching the level of the GDP of one year. You could just as well say it has reached 400% of the quarterly GDP or 33% of the three year GDP.
Personally I’m more worried about concrete numbers like the cost of servicing the debt yearly. That has reached 17% of your yearly budget by now.
Every American, babies to retire owe like $100.000 (napkin math, IIRC it’s even more) if you split up the debt.
I’d start thinking about that if I were an economist over there. Or a politician. Someone is going to have a huge, huuge, leverage over the usa til you fix that.
The debt is high as balls of course, but really there is no specific significance to reaching the level of the GDP of one year. You could just as well say it has reached 400% of the quarterly GDP or 33% of the three year GDP.
Personally I’m more worried about concrete numbers like the cost of servicing the debt yearly. That has reached 17% of your yearly budget by now.
Every American, babies to retire owe like $100.000 (napkin math, IIRC it’s even more) if you split up the debt.
I’d start thinking about that if I were an economist over there. Or a politician. Someone is going to have a huge, huuge, leverage over the usa til you fix that.