Current‑dollar GDP increased 5.2 percent at an annual rate, or $360.0 billion, in the second quarter to a level of $28.63 trillion. In the first quarter, GDP increased 4.5 percent, or $312.2 billion. https://www.bea.gov/news/2024/gross-domestic-product-second-quarter-2024-advance-estimate
Debt to the Public was $27.613 trillion as of 6/30/24, so that makes a ratio of 96.4%.
One year ago, on 6/30/23, the revised GDP was $27.06 trillion, and debt to the public was $25.462 trillion, so the ratio then was 94.1%.
So, the debt increased $2.1 trillion, but GDP increased only $1.57 trillion.
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Update:
Current‑dollar GDP increased 5.5 percent at an annual rate, or $383.2 billion, in the second quarter to a level of $28.65 trillion. https://www.bea.gov/news/2024/gross-domestic-product-second-estimate-corporate-profits-preliminary-estimate-second.
Comment: Everyone seems really focused on this, but it is only a $23 billion adjustment upward.
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