Wednesday, 26 June 2013

The U.S. Debt to GDP Ratio hits 105.1% in Q1-13, Obama's Debt Track Record

The revised figures for the first quarter of this year show the total Federal Debt in the U.S. jump to US$ 16.796 trillion, an increase of US$ 338.40 billion (2.1 %) from the last quarter in 2012. As the GDP for the quarter only increased by US$ 120 billion (0.8%) the debt to GDP ratio increased from 103.7 % in Q4 2012 to 105.1 % in Q1 2013.

It was the highest debt to GDP ratio ever reported in the U.S. based on data going back to 1966.

During the Obama administration, the debt to GDP ratio has now increased from 76.0% when he took office  at the beginning of 2009 to the current 105.1 %. This is the biggest increase for any president based on data going back to 1969 when Nixon started his presidency. During Obama's time in office the total (reported) debt of the U.S. has increased by US$ 6.096 trillion (57.0%).

See also: U.S. Debt-to-Income Ratio is more than 560%, worse than Greece.

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