U.S. Debt To GDP Ratio Passes 100%
*Cue playing of the world's smallest violin*
According to ZeroHedge blogger Tyler Durden, we have finally broken through that three digit barrier. Using "on the books" data from the U.S. Bureau of Economic Analysis, the last annualized U.S. GDP was pinned at $15,180,900,000.00. Then, utilizing Treasury Direct, formed by the U.S. Department of the Treasury Bureau of the Public Debt to allow the purchase and redemption of securities from the U.S. Department of Treasury in electroni form, Mr. Durden calculated the total U.S. Debt to be $15,182,756,264,288.80.
This puts the U.S. Debt to GDP Ratio, as of December 20, at 100.012%
Alas, this is a regrettable milestone, but this by no means changes anything significantly; Personally, I don't believe that our national debt should be the foremost of our economic concerns (I've been reading too much Paul Krugman). What do you guys think?