Tuesday, February 9, 2010

Deficit facts

Douglas Elmendorf of the Congressional Budget Office,

…. accumulating deficits will push federal debt held by the public to significantly higher levels. At the end of 2009, debt held by the public was $7.5 trillion, or 53 percent of GDP; by the end of 2020, debt is projected to climb to $15 trillion, or 67 percent of GDP.

USA: 53%
UK: ~100%
Japan: approaching 180%

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