Tuesday, 19 July 2011

US government Debt


As of June 29, 2011, the Total Public Debt Outstanding of the United States of America was $14.46 trillion and was approximately 98.6% of calendar year 2010's annual gross domestic product (GDP) of $14.66 trillion.Using 2010 figures, the International Monetary Fund places the total U.S. debt at 96.3% of GDP, ranked 12th highest against other nations.
The federal government's budget deficit should not be confused with the trade deficit, which is the difference between net imports and net exports. State and Local Government Series securities, issued by state and local governments, are not part of the United States government debt. The deficit is presented on a cash rather than an accruals basis, although the accrual deficit provides more information on the longer-term implications of the government's annual operations.

Below is graphic of US Debt:











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