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Trivia Tidbit of the Day: Part 799 -- America's Debt.

Raging Debt-

We're not in good shape, people:

The U.S. national debt will soon reach 100% of GDP, the IMF predicts in a new report.

The following graph shows the sharp rise in U.S. debt starting in around 2006. By 2015, the IMF suggests, debt could reach well over 100% of GDP.

The IMF predicts that the U.S. would need to reduce its structural deficit by the equivalent of 12% of GDP, a much larger portion than any other country analyzed except Japan. Greece, in the midst of a financial crisis, needs to reduce its structural deficit by just 9% of GDP, according to the IMF's analysis.

And yet, the wasteful spending just keeps ratcheting upward.

Previous Trivia Tidbit: States With No Income Taxes Do Better Than Other States.

Posted by Will Franklin · 17 May 2010 11:24 AM

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