We all know what a debt is. It’s what we owe. If we owe too much, more than we can conveniently handle, we’re likely to be in trouble.
What is our “national debt”? It’s what we — the people of the United States — owe collectively. How much is it? It is a shocking $13.6 trillion!
That’s such a huge number that we really cannot grasp or fully understand it. But we do have to pay interest on it through our taxes!
There is another big number that is very important for us to understand. It’s our “gross domestic product.” What is that? Gross domestic product, or GDP, is our nation’s total economic output, the market value of all the goods and services that we make in the United States in a year.
We are proud to report that our gross domestic product is nearly $15 trillion a year!