This month’s GDP estimate (by the Bureau of Economic Analysis) resulted in a significant upward revision of our economy’s growth rate. That’s good news, and I have recalibrated the new Debt Clock accordingly (see top right of this blog).
Here are the latest numbers. I'm still using the two-quarter method for estimating growth, because it has been more reliable than the one-quarter method used by the BEA.
When the economy grows faster than the debt grows, our debt burden drops. I like it when that happens.
[UPDATE: Click here for a brief, explicit summary of the math.]