- debt (total
government obligations) grew
33x’s188x’s ($533 B à $17.5 T$100 T*)
- GDP grew 10.5x’s ($1.7 T to 18 T)
- Household net worth grew 15x’s ($5.4 to $82 T), median household income grew 3x’s (est. $17k to $51k), Real median household income grew 1.1x’s ($45k to $51k)
- $16.8 Trillion US economy (gross domestic product)
- $2.8 Trillion Federal tax revenue (taxes in)
- $3.5 Trillion Federal budget (spending out)
- -$680 Billion budget deficit (bridged by sale of Treasury debt spent now and counted as a portion of GDP)
- = $550 Billion economic growth?!?
- PLEASE NOTE - The ’13 GDP “growth” is less than the new federal debt incurred (although the new debt spent is counted as new GDP) and the interest on the debt will need be serviced indefinitely?!?
Lastly, America's declining job creation over time. Below compares the growth in population vs. net growth in jobs (both in millions and %)...or the % of new jobs per the rising population. The entire jobs gain since '08 is due to rising part time offsetting declining full time jobs.
Source, US BLS