Free Republic

The U.S. national debt exceeded the total amount of output from the entire economy as of March 31, The Wall Street Journal reported Thursday. The country’s publicly held debt was $31.265 trillion, while the nation’s Gross Domestic Product (GDP), the total value of goods and services in the economy, was $31.215 trillion. The ratio of GDP to Debt was 100.2%, up from 99.5% in September 2025, according to The Wall Street Journal. The government now spends $1.33 for every dollar it collets in revenue, with budget deficits running consistently at around 6% of GDP. That figure will continue to rise...

y DAVID M. WALKER, The Fiscal Times December 30, 2011 In Washington, if you want to make something public while minimizing press attention, you should release it on a Friday. The current Administration topped that by issuing the consolidated financial statements of the U.S. Government, which included the Government Accountability Office's (GAO) related independent audit report on the Friday before Christmas when the public was focused on the holiday season and key policymakers were either headed out of town or already gone. The report was simply posted on the Internet and provided to the press on request and without any...