Featured Article
Jan 09, 2012

U.S. debt is now equal to economy

By Richard Wolf | USA TODAY

By Justin Sullivan, Getty Images

We're going into the hole big time. We've got to stop spending and create tax reform that broadens the tax base and encourages job creation in order to create net worth in America again.

From USA Today

The amount of money the federal government owes to its creditors, combined with IOUs to government retirement and other programs, now tops $15.23 trillion.

That's roughly equal to the value of all goods and services the U.S. economy produces in one year: $15.17 trillion as of September, the latest estimate.
 

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