Another Danger Sign: US Debt Eclipses Economic Output

By Forrest Jones

The United States has joined the rogues gallery of nations whose debt has exceeded its annual economic output, or gross domestic product (GDP).

The U.S. national debt has broken $15.033 trillion, higher than the $15.032 trillion gross domestic product, meaning as of now, the country’s debts are higher than its annual output, according to usdebtclock.org, citing government data.

That’s serious, says Gennaro Bernile, a professor of finance at the University of Miami.

Read more: http://www.moneynews.com/StreetTalk/US-Debt-Economic-Output/2011/11/21/id/418767