Chart of the Day: GDP vs. Public Debt in Q1
You may have heard at the end of last week that gross domestic product (GDP) grew by 2.2% in the first quarter of 2012. While the number is still good news, showing our economic is growing, the rate of growth was much lower than anticipated, leading many to fear that our recovery may continue on the slow trend we’ve seen in the last two years.
However, what hasn’t been mentioned much is the rate of growth in the national debt in the first quarter. It’s no secret that the United States government is still hemoraging money, creating a river of red ink from Washington. And while we may have some growth in the economy, fiscal concerns seem like an afterthought to many in the nation’s capital.
That’s not a pretty sight, folks.