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July 28, 2012

Deficits, Debt and GDP for the USA, China

US Government deficits have been running at about $1.3 trillion per year or about 9% of GDP.

China has a federal deficit of 1.5 to 2.4% of GDP. However, China is ramping up spending at the provincial and city level. China is increasing spending on high speed rail and other infrastructure.

The White House projection is for a deficit of $1.2 trillion in 2012. The 2013 deficit forecast was increased from $901 billion to $991 billion. The White House is calling for $195 billion in economic stimulus.

The US is still likely to run $1 trillion per year deficits.



45%

The CIA lists China's public debt at 45% of GDP in 2011

The CIA lists US public debt at 69% of GDP in 2011.

If China maintains 7-8% annual GDP growth that would lead to double the GDP in 2020.

The US current plans are to have 2.5% annual GDP growth.



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