Wednesday, May 10, 2023

GDP is $26.47 trillion

 Current‑dollar GDP increased 5.1 percent at an annual rate, or $327.9 billion, in the first quarter, to a level of $26.47 trillion. 

https://www.bea.gov/news/2023/gross-domestic-product-first-quarter-2023-advance-estimate

The national debt is currently stuck at about $31.45 trillion.  When the debt limit is raised, this number will rapidly increase.  The debt held by the public, the number I am concerned with, is $24.6 trillion.  Thus the debt to GDP ratio is currently at 92.9%.  This percentage will be much higher in a few months.


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