It's Official: US Debt-To-GDP Passes 100%

ZeroHedge.com ^ | on 12/21/2011 16:58 -0500 | by Tyler Durden

[DeaconBenjamin]

With precisely one year left for the world and all of its inhabitants, at least according to the Mayans, not to mention on the day of the Winter Solstice, it is only fitting that US debt, net of all settlements for all already completed bond auctions, is now at precisely $15,182,756,264,288.80. Why is this relevant? Because the latest annualized US GDP, according to the BEA, was $15,180,900,000.00. Which means that, as of today, total US debt to GDP is 100.012%. Congratulations America: you are now in the triple digit "debt to GDP" club!

(naturally, this is using purely "on the books" data. If one adds the NPV of all US liabilities, and adjusts GDP for such things as today's housing contraction, then the magical triple digit threshold was breached long, long ago).

And here is the breakdown for the forensically inclined ones:

I. Total debt as of December 20: $15,131,979,264,288,80 (source):

II. Net cash settlement of all completed auctions: $50,777,000,000.00 (source) :

III. Total GDP: $15,180,900,000,000.00 (source):

=> Total Debt/GDP= $15,182,756,264,288.80/$15,180,900,000,000.00 = 100.012%

[DeaconBenjamin]

Obama, the gift that keeps on giving!

[Don Corleone]

12/21/12 looking more plausible every day!

[EagleUSA]

If the Repubs cannot beat Obama on this and Obamacare, there is no hope for America.

[Psycho_Bunny]

This is High Treason.

[TheConservativeParty]

Fan-freaking-tastic.
We are sunk if that Alinsky socialist retains office.
Even if a RINO gets in, we’re done for.

[Qbert]

And yet Harry Reid and Obozo refuse to cut a dime of spending.

[elpadre]

and the spending never recedes

and the cuts in spending never happen

drastic changes are needed now. The problem people need to be identified and turned out either by election or recall.

time is short

[elpadre]

and the spending never recedes

and the cuts in spending never happen

drastic changes are needed now. The problem people need to be identified and turned out either by election or recall.

time is short

[WOBBLY BOB]

[VicVega]

"If the Repubs cannot beat Obama on this and Obamacare,"

There are some, a minority of Republicans that want to overturn this.
BUT, I truly believe that the majority of the republican leadership will do not want to overturn this legislation.
They will scream and holler about it to get campaign funds, but at the end of the day, nothing will change.

[Principled]

Doesn’t that put us with PIIGS?

[microgood]

The only possibility left now is default. I say we offer them 10 cents on the dollar.

[upchuck]

I feel so much better. It’s all downhill from here.

[tumblindice]

http://www.usdebtclock.org/
pretty Christmas colors

[Gritty]

Terrific.

I always wanted to live for a while in Greece.

Now I don’t need to move to do it.

[Electric Graffiti]

Obama and his Communist cronies looted America 6 ways to Sunday. Trillions of dollars stolen.

Revenues to the Federal Gubbermint are way down and spending tripled under the marxist muslim America hating faggot illegal alien.

We are ‘printing’ money to cover the entire debt nut. It's going ballistic-—exponential and will soon explode into hyperinflation and total collaspe.

There is no way back now except to rise out of the ashes.

[bmwcyle]

And some Americans still support the bastard illegal child.

[tennmountainman]

And with that, will soon come the crash.
Stock up.

[fortheDeclaration]

Lets spend our way to growth!

[fortheDeclaration]

Most spending has been locked in by earlier Congress's so there is very little to cut in terms of the overall budget which just grows automatically now.

The entire system needs to be revamped, but the GOP doesn't have the nerve to do what it takes.