It's Official: US Debt-To-GDP Passes 100%

Tyler Durden's picture

With precisely one year left for the world and all of its inhabitants, at least according to the Mayans, not to mention on the day of the Winter Solstice, it is only fitting that US debt, net of all settlements for all already completed bond auctions, is now at precisely $15,182,756,264,288.80. Why is this relevant? Because the latest annualized US GDP, according to the BEA, was $15,180,900,000.00. Which means that, as of today, total US debt to GDP is 100.012%. Congratulations America: you are now in the triple digit "debt to GDP" club!

(naturally, this is using purely "on the books" data. If one adds the NPV of all US liabilities, and adjusts GDP for such things as today's housing contraction, then the magical triple digit threshold was breached long, long ago).

And here is the breakdown for the forensically inclined ones:

I. Total debt as of December 20: $15,131,979,264,288,80 (source):

II. Net cash settlement of all completed auctions: $50,777,000,000.00 (source):

III. Total GDP: $15,180,900,000,000.00 (source):

=> Total Debt/GDP= $15,182,756,264,288.80/$15,180,900,000,000.00 = 100.012%

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Hansel's picture

yeah, fucking hilarious...

TruthInSunshine's picture

Der Sprockets, a widely read German Paper (similar to The Telegraph or Canada's Globe & Mail in terms of shitty content), has said that pointing out that the U.S. has a 100% debt-to-GDP ratio is fear mongering and a terrible thing to do.


***U.S. Debt is really 11 to 16 times higher than officially acknowledged [60 to 200 trillion USD] according to David M. Walker (former Comptroller General of the United States) or Laurence Kotlikoff.

JustObserving's picture

While people are focused on US debt to GDP ratio, many people buy the BEA number of US GDP of $15.18 trillion. Others like Dagong, the Chinese rating agency, estimate US GDP as $6 trillion. So US debt to GDP ratio may be as high as 30 while we officially  mark the ratio crossing 1.  There are lies, statistics and BEA statistics.

TeMpTeK's picture

Relax.... Its only paper

Long-John-Silver's picture

Each note has an intrinsic value of 12.44 BTU.

s2man's picture

Don't burn it, its toxic!  Thats according to the Fed.  The epa got "pissy" and made them stop burning it.  That's why the give those little bags of shredded FRNs to visitors.

willien1derland's picture

And because the developed world is all in the same boat, presently, we are graded on a curve....No Debt left behind Bitchez!

Jlmadyson's picture

Say it ain't so O.

Odin's picture

Time to sacrifice some virgins on high?

Calmyourself's picture

Keep them away from Penn state or the sacrifice doesn't work, just sayin..

sexcellent's picture

ok now congress really really promises to take it seriously

willien1derland's picture

Somewhere John Boehner is crying, while Harry Reid calls his Bookie in Vegas...

HungrySeagull's picture

That will be one check uncle sam will not be able to write and cash.

LouisDega's picture

My ass is only worth $13  and my soul belongs to Jesus. Hope that helps

LouisDega's picture

Wow. Thats a lot of spinach.

Kali's picture

Whoo Hoo! Happy New Year!

css1971's picture

If you taxed all income taxpayers at 100% of income. You still couldn't pay the US Government budget.


UP Forester's picture

I thought the limit was 140%.

Unless it's the City of London.

NOTW777's picture

and they are fighting over payroll taxes - ha

NotApplicable's picture

Gotta keep SS "solvent" don't you know.

catacl1sm's picture

Don't confuse debt, budget, and deficet.

css1971's picture

I know exacty what they are.

The point is, taxes are now almost irrelevant. They can tax all they want, literally take everything you earn. It doesn't make a blind bit of difference. The budget is still too large.


max2205's picture

I never believe govt #'s

John Law Lives's picture

100% FUBAR.

I wonder why S&P hasn't officially downgraded France.  Go ahead and do it and let's watch the show.

1835jackson's picture


Rob Jones's picture


How long until we pass 200% GDP? 6 years? 8 years? 10 years?

Do we get bonus miles?

Kali's picture

Awww, don't shortchange US!  12-31-2012

grunk's picture

Drinks for everyone... Ben and Timmy are buying.

Ben and Timmy go driving


Out9922's picture

Celebrate good times, come on

Schmuck Raker's picture

An insightful summation of how we got here. Kudos!

NoClueSneaker's picture

Xmass lynch party on lower Manhattan ? ( Plz. invite Jon Kerosine - no thug left behind ).

NJ citizens owe to be the game changers :-P

Or do they have something to loose ?

HardlyZero's picture

Does this new event horizon accelerate the Apocalypse Clock to a few days before midnight Dec. 21, 2012 ?

What is the real countdown clock setting ?

Long-John-Silver's picture

Dec. 21, 2012 is the beginning of the new calender. The Apocalypse leads up to that date. We all get a new start Dec. 22, 2012.   

kito's picture

i just dont get this mayan end of the world thing. as i understand it, their long calendar ends on december 21, 2012, but its not as if they didnt have a new calendar to follow, which they do. so if its the end of the world, why bother continuing with a new calendar? 

oh, and why tylers posting discrepancy with which has debt at 100.4?????