- Columns are US debt to GDP
- Black line is annual total US population growth (%)
- Yellow line is annual under 65yr/old US population growth (%)
What is "growth"? The chart below shows the annual change in gross domestic product after subtracting the annual federal deficit spending essentially included as part of that GDP figure. The US hit peak growth in 2000, adding a half trillion in economic activity above and beyond the deficit spending incurred that year. Since then, the wheels have fallen off and economic activity (subtracting the annual deficit incurred) has been spectacularly negative. Said otherwise, there is no growth but the growth of debt. And this takes no account of the far larger and more pernicious unfunded liabilities.