What is the % of GDP is the national debt?
My Answer: The percentage of GDP is national debt is approx. 77%. Is this correct?
Please post the figures you're using for GDP and national debt.
I went and used the latest figure of Real GDP which was the third quarter of 2006 being $11,443,000,000,000.50, which came from the Economic Report of the President “Transmitted to the Congress February 2007.”
I used the current national debt as of May 4, 2007 being $8,816,009,655,724.63 which that information comes from the TreasuryDirect’s website.
To calculate the percentage of GDP that is the national debt, you divide the national debt by the GDP and then multiply by 100.
Using the figures you provided, the calculation would be as follows:
National Debt: $8,816,009,655,724.63
GDP: $11,443,000,000,000.50
Percentage of GDP = (National Debt / GDP) * 100
= ($8,816,009,655,724.63 / $11,443,000,000,000.50) * 100
Please note that the figure you provided for GDP is from the third quarter of 2006, and the national debt figure is from May 4, 2007. It's important to use the most up-to-date figures for accurate calculations.
Calculating the percentage using these figures gives us:
Percentage of GDP = (0.7702) * 100
= 77.02%
Therefore, based on the figures you provided, the national debt is approximately 77.02% of the GDP.