Using onlygov Websites report the current GDP the current Fe

Using only.gov Websites report the current GDP, the current Federal deficit, the current Federal debt, the bottom line of the current (last) budget approved by Congress (surplus or shortage).

Note that the fiscal year for the federal government is October 1 – September 31. What inference can you draw from the numbers collected?

Solution

Nominal GDP for 2014    : $1738.1 Billion

Real GDP for 2014            : $15961.7 Billion

Current Federal Deficit : $544 Billion   (as of January, 2016)

Current Federal Debt (2015): $18150.6 Billion

Bottom line of budget: deficit of $544 Billion in revenue and outlay

Individual figures of current year does not help in inferring any trend but review of historical data for the past years show following:

Though, figures are rising but growth trend is varied among different macroeconomic indicators.

Sources of data:

http://www.bea.gov

https://www.treasurydirect.gov

https://www.cbo.gov/