“TEN TRILLION AND COUNTING”
By Conner Oxford
Congressional Budget Office and other federal agencies that deal with budget policy, many of the national debt, spending, and revenue figures in this research are express as a percentage of gross domestic product (GDP). Debates about the size of government and the effects of its debt are center upon how much of a nation’s economy is consumed by government. This measure also accounts for population growth, some of the effects of inflation, and the relative capacity of government to service its debt.
"National Debt – Just Facts." National Debt – Just Facts. Accessed May 05, 2016. http://www.justfacts.com/nationaldebt.asp#quantifying.
- Interest per Year $478,217,992,436
- Interest per Second $15,164
- Debt per Citizen $59,468
- Debt as % of GDP 106.28%
- GDP $18,060,200,000,000
- Population 322,778,960
"United States National Debt Clock :: National Debt Clocks." National Debt Clocks. Accessed May 05, 2016. http://www.nationaldebtclocks.org/debtclock/unitedstates.
Obama Fiscal Policy vs. Republican Stand-off
Budget breakdown: What the White House wants to spend money on
- Obama’s final budget proposal calls for an almost 5 percent spending boost
- House Republicans are having a ‘family conversation’ on budget
- Budget deficit set to rise thanks to year-end tax deal