Supporters of republican presidential candidate Mitt Romney stand next to a national debt clock during a rally at Exeter High School on January 8, 2012 in Exeter, New Hampshire. (Getty Images)

(Newser)
–
It's official, at least according to USA Today: The national debt is as big as the country's entire economy, and sure to surpass it soon. The federal government owes more than $15.23 trillion to creditors and government programs like Social Security, which is more than the latest estimate for the value of all goods and services produced by the US economy in one year: $15.17 trillion. That number is as of September, and the economy probably grew to $15.3 trillion by last month, USA Today notes.

But the national debt will likely surpass even that number this month, and projections show that the debt will likely increase at a quicker rate than the economy. The economy would need to grow at least 6% per year to keep up, USA Today notes. But some economists say the national debt should be measured without including money owed to government beneficiaries, which would bring it down to the slightly-more-reassuring amount of $10.5 trillion. Even that amount, however, is high compared to historic levels.

So what will happen is that the American people will go back to a lower standard of living. We'll just go back to living in smaller homes and apartments, smaller and few cars, etc. Back to living in the inner city instead of sprawling all over suburbia. This is already in progress. No big deal.

Rational.-Anarchist

Jan 9, 2012 5:00 PM CST

This fantasy government will keep printing more toilet paper,er," money." So, what's the problem?

myflap.blow

Jan 9, 2012 2:49 PM CST

this turd has been being pushed out since Reagan sat down at the throne. it's only now cleared the sphincter and is currently free-falling into the shit water. Prepare for this year to be a big splash!