Trump First President To See National Debt Hit 100% Of GDP Since Harry Truman

[Guno צְבִי]

• Publicly held debt hit 100% of GDP for the first time since 1946, when post-WWII borrowing pushed the ratio to a record 106%.
• The ratio was 34% in 2000 when the government ran surpluses; tax cuts, emergency spending, and an aging population drove it to triple digits.
• With 10-year Treasury yields at 5%, every 0.1 percentage point above CBO forecasts adds $379 billion in interest costs over a decade.
  
  Debt held by the public hit 100% of gross domestic product for the fiscal year that ended Sept. 30. The Wall Street Journal reported Thursday that this is the first time the ratio has reached triple digits since 1946. Harry Truman was president in 1946, so President Trump is the first president since Truman to see the fiscal-year ratio this high
  
  
  

  Trump First President To See National Debt Hit 100% Of GDP Since Harry Truman

  For the first time in generations, a milestone in the federal debt-to-GDP ratio has arrived that most economists hoped never to see again, and the forces that drove it there make it nearly impossible to reverse.

  www.yahoo.com
  
  
  
  
  
  
  
  

 

[ThatOwlWoman]

I don't know about you, but I'm tired of all this winning.

 

[Guno צְבִי]

Wait until the BBB bill kicks in.

 

[Guno צְבִי]

I don't know about you, but I'm tired of all this winning.

So much winning!!!!

 

[ThatOwlWoman]

So much winning!!!!

Says Putin to himself every night. lol

 

[Into the Night]

• Publicly held debt hit 100% of GDP for the first time since 1946, when post-WWII borrowing pushed the ratio to a record 106%.
• The ratio was 34% in 2000 when the government ran surpluses; tax cuts, emergency spending, and an aging population drove it to triple digits.
• With 10-year Treasury yields at 5%, every 0.1 percentage point above CBO forecasts adds $379 billion in interest costs over a decade.
  
  Debt held by the public hit 100% of gross domestic product for the fiscal year that ended Sept. 30. The Wall Street Journal reported Thursday that this is the first time the ratio has reached triple digits since 1946. Harry Truman was president in 1946, so President Trump is the first president since Truman to see the fiscal-year ratio this high
  
  
  

  Trump First President To See National Debt Hit 100% Of GDP Since Harry Truman

  For the first time in generations, a milestone in the federal debt-to-GDP ratio has arrived that most economists hoped never to see again, and the forces that drove it there make it nearly impossible to reverse.

  www.yahoo.com
  
  
  
  
  
  
  

Total debt, credit derivatives, currency derivatives, and combined debt is now about $943 trillion, about 2946% of GDP.
The GDP is currently around $32 trillion.

 

[Into the Night]

I don't know about you, but I'm tired of all this winning.

Assumption of victory fallacy.

 

[Into the Night]

Wait until the BBB bill kicks in.

It already has, Gunky.

 

[Hawkeye10]

There is actually no equivalence, because these days the GDP number is jacked up, and because the 1946 debt was caused by a one time existential threat but todays debt is systemic......will continue to build till the financial system collapses.

 

[Into the Night]

So much winning!!!!

Assumption of victory fallacy.