U.S. debt approaching 100% of GDP

So when does one stop spending and cut back?

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.

Read the full, very long report here.

Read the rest of the story IMF: U.S. debt approaching 100% of GDP – The Hill’s Blog Briefing Room.

About Albert N. Milliron 6987 Articles
Albert Milliron is the founder of Politisite. Milliron has been credentialed by most major news networks for Presidential debates and major Political Parties for political event coverage. Albert maintains relationships with the White House and State Department to provide direct reporting from the Administration’s Press team. Albert is the former Public Relations Chairman of the Columbia County Republican Party in Georgia. He is a former Delegate. Milliron is a veteran of the US Army Medical Department and worked for Department of Veterans Affairs, Department of Psychiatry.

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