GDP = $14.4617 Trillion (Current Dollar, 2009 Q4 second estimate)
Public Debt = $8.09178961632488 Trillion (2010-03-11)
Total debt owed to foreign holders of treasury securities = $3.689 trillion (2010-01-01)
Debt/GDP ratio = 55.95%
Foreign ownership of debt/GDP ratio = 25.51%
Population = 309,026,611 (Resident Population + Armed Forces Overseas, 2010-02-01)
GDP per capita = $46,797.59
Public Debt / person = $26,184.77
Foreign Public Debt/ person = $11,937.48
GDP per capita minus Public Debt per person = $20,612.82
Tax Receipts = $2.044117 Trillion (Twelve month moving average¹, Monthly Treasury Statement, 2010-02-01)
Tax Receipts as percentage of GDP = 14.13%
Debt/Receipt ratio² = 395.86%
Federal Government Outlays = $3.521637 Trillion (Twelve month moving average¹, Monthly Treasury Statement, 2010-02-01)
Federal Government Outlays as percentage of GDP = 24.25%
For every $1.00 the US government gains, it spends $1.72
Fiscal Surplus/Deficit = -$1.47752 Trillion
Surplus/Deficit as percentage of GDP = -10.22%
- Tax receipts for February 2010 were higher than in February 2009. The debt/receipt ratio of 395.86% is slightly better than the 396.59% recorded last week.
- Federal government outlays were higher in February 2010 than in February 2009.
- Added tax receipt and outlay as percentage of GDP to give an idea of the size of the US government in comparison to the rest of the economy.
- Added GDP per capita figures (GDP ÷ population, which is one way of measuring GDP per capita) as well as "net worth" figures (GDP per capita minus public debt / person)
- October 2008 figures below have been recalculated. Some figures have changed from previous debt watch posts - this was because I used approximations early on in this series. Links have been provided to the raw data I have used to come up with these figures. Feel free to fact check and let me know of any errors in the comments section.
In October 2008, GDP was $14.2003 Trillion (Current Dollar, 2008 Q4 final estimate)
In October 2008, Public Debt was $6.18964742400511 Trillion (2008-10-20)
In October 2008, the total debt owed to foreign holders of treasury securities was $2.9797 Trillion
In October 2008, the Debt/GDP ratio was 43.59%
In October 2008, the foreign ownership of debt/GDP ratio was 20.98%
In October 2008, the Population (resident population + Armed Forces overseas) was 305,554,049 (2008-10-01)
In October 2008, GDP per capita was $46,473.94
In October 2008, Public Debt / person was $20,257.13
In October 2008, Foreign Public Debt/ person was $9,751.79
In October 2008, GDP per capita minus Public Debt per person was $26,216.81
In October 2008, Tax Receipts were $2.578156 Trillion (Twelve month moving average¹, November 2008 Monthly Treasury Statement)
In October 2008, Tax Receipts represented 18.16% of GDP
In October 2008, the Debt/Receipt² ratio was 240.08%
In October 2008, Federal Government outlays were $2.747197 Trillion (Twelve month moving average¹, November 2008 Monthly Treasury Statement)
In October 2008, Federal Government outlays represented 19.35% of GDP
In October 2008, for every $1.00 the US government gained, it spent $1.07.
In October 2008, the Fiscal Surplus/Deficit was −$0.169041 Trillion
In October 2008 the Surplus/Deficit as percentage of GDP was -1.19%
The historical tables of the FY2010 budget (page 24-25) show that:
Highest tax receipts as percentage of GDP: 20.9% in 1944 and 2000.
Lowest tax receipts as percentage of GDP: 2.8% in 1932.
The last time tax receipts were lower than they are now: 13.3% in 1943.
Highest Federal Government outlays as percentage of GDP: 43.6% in 1943 and 1944.
Lowest Federal Government outlays as percentage of GDP: 3.4% in 1930.
The last time Federal Government outlays were higher than they are now: 24.8% in 1946.
¹ Measures total tax receipts/outlays over the previous 12 months from the last month measured. eg April 2009 to March 2010.
² The Debt/Receipt ratio measures government revenue (twelve month moving average) as a percentage of current public debt. A good way to compare it would be to compare your current income to what you owe on your mortgage.