For the first Time in History, U.S. Debt Finally Exceeds $31 Trillion and 150% of Gross Domestic Product!
President Slo-Joe Big Debt Biden has finally achieved a signature victory. In fact, he has, on our behalf, achieved two signature victories in one!
The United States now has the largest debt of any country ever to exist on planet Earth!
Thanks to Slo-Joe and his accomplices, we now owe almost 31 trillion (https://www.foxbusiness.com/features/us-national-debt-nears-31-trillion ), a large part of it to China! Thanks to Slo-Joe and his accomplices, we are now top dog in the debt department. Hell, we are so far ahead that the country in second place (China) is a distant, very distant second, possessing a mere $13 trillion in debt. (Wikipedia https://en.wikipedia.org/wiki/ )
But Wait, There’s More!
We Now Owe 157% More Than We Make!
Biden has spent so much money without paying for it with tax increases that the U.S. now owes ($31 Trillion) far more than we produce (Est. 2022 Gross Domestic Product – $19.7 Trillion – https://ycharts.com/indicators/us_real_gdp)! We now join the illustrious countries of Venezuela, Sudan, Greece, Lebanon, Cabo Verde, and others who are now debtor nations!
With the addition of Slo-Joe’s (and his accomplices) debt, the United States owes 157% (I.e., 1.57 times) of what we make. This is the highest percentage of debt to GDP ever in the United States. Even in past times of great crisis, our debt to GDP ratio has never been that high! For example, during the Civil War and World War I, our debt only reached 30% of GDP. Even in World War II, our country’s greatest expenditure (until 20220), our debt to GDP ratio only reached 112.7%.
Way to go, Joe. We now owe with the best of them!!! Thank God I am elderly and only my children (and grandchildren) will have to pay the bill.
P.S. Chart below only goes to 2011 and is included for historical reference. Today’s (2012) Debt to GDP ratio is 157%. Almost three times the ratio in 2011.
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