USA Today posted a story today that the U. S. National Debt is now equal to all goods and services produced by the entire U. S. economy in one year.

The article reports:

The amount of money the federal government owes to its creditors, combined with IOUs to government retirement and other programs, now tops $15.23 trillion.

The article includes a graph:

The graph shows how rapidly the national debt has risen in recent years.

The article concludes:

The White House and Congress agreed in August to cut about $1 trillion from federal agencies over 10 years. An additional $1.2 trillion in automatic spending cuts looms beginning next year if lawmakers can’t agree on a better way to do it.

Economist Mark Zandi of Moody’s Analytics says reaching the 100% mark shows “the grave need to address our long-term fiscal problems.”

We need to elect people in November who will stop the runaway spending.