In 2012 the public debt was $16.4 trillion. Put this number in perspective by relating the debt to GDP, to other countries’ debt, to the amount of interest payments on the debt, and to ownership of the debt.
What will be an ideal response?
In 2012 debt was a slightly larger proportion of GDP than it was in 2000; it was about 45 percent of GDP in 1995 and 70 percent of GDP in 2012. In 2012 public debt was a greater percentage of GDP in Japan, Greece, Italy, Belgium, France, the United Kingdom, Canada, Spain, and Germany than in the United States. Interest charges as a percentage of GDP are about 2.3 percent of GDP. The share held by foreigners was about 33 percent of the total. About 40 percent was held by the Federal government and the Federal Reserve.
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Which of the following is NOT considered capital?
A) an assembly line at a General Motors plant B) a computer used by your instructor for presentations in class C) stocks and bonds that are sold by Pepsico D) the furniture in the President's office E) a nail gun used for building houses
Unions support minimum wage laws because an increase in the minimum wage
A) increases the supply of union labor. B) decreases the supply of union labor. C) increases the demand for union labor. D) decreases the demand for union labor.