Bad news: The US government was short a record $374.2 billion in 2003 (the fiscal year ends September 30th).
Good news: The deficit is about 3.5 percent of GDP, not in itself a stratospheric share.
Context: the US national debt today is $6,834,248,759,903.16, or about 63 percent of its $10. 8 trillion economy measured in GDP; in 2003, we paid $318 billion in interest payments on that debt.
Posted at October 21, 2003 02:18 PM | TrackBack