Based on the table and graph, explain how the country's rate of GPD growth has compared to its debt growth over time and what the implication is for the debt/gdp rati

ENGR.ECONOMIC ANALYSIS
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Based on the table and graph, explain how the country's rate of GPD growth has compared to its debt growth over time and what the implication is for the debt/gdp rati

The table below shows, respectively, the debt/GDP ratio, nominal GDP (in billions of $), and the Federal debt, for the years
2000-2021:
Year
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
Total Public
(Federal) Debt as
Percent of GDP
55.61407
54.93145
56.64506
58.71754
60.11638
60.80830
61.48438
62.09817
67.13855
80.96044
88.95418
93.94041
98.36839
100.05000
101.42804
100.75724
104.56563
103.23531
104.43225
105.19024
124.15977
123.05398
GDO, Billions of
Dollars, Annual
10250.952
10581.929
10929.108
11456.450
12217.196
13039.197
13815.583
14474.227
14769.862
14478.067
15048.970
15599.732
16253.970
16843.196
17550.688
18206.024
18695.106
19477.337
20533.058
21380.976
21060.474
23315.081
Total Public Debt,
Millions of Dollars
5698931
5812865
6191611
6728045
7345150
7929140
8494599
8988542
9913533
11723348
13390438
14656620
15990131
16851000
17799837
18344213
19549201
20107155
21443717
22492986
26098561
28677035
Transcribed Image Text:The table below shows, respectively, the debt/GDP ratio, nominal GDP (in billions of $), and the Federal debt, for the years 2000-2021: Year 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Total Public (Federal) Debt as Percent of GDP 55.61407 54.93145 56.64506 58.71754 60.11638 60.80830 61.48438 62.09817 67.13855 80.96044 88.95418 93.94041 98.36839 100.05000 101.42804 100.75724 104.56563 103.23531 104.43225 105.19024 124.15977 123.05398 GDO, Billions of Dollars, Annual 10250.952 10581.929 10929.108 11456.450 12217.196 13039.197 13815.583 14474.227 14769.862 14478.067 15048.970 15599.732 16253.970 16843.196 17550.688 18206.024 18695.106 19477.337 20533.058 21380.976 21060.474 23315.081 Total Public Debt, Millions of Dollars 5698931 5812865 6191611 6728045 7345150 7929140 8494599 8988542 9913533 11723348 13390438 14656620 15990131 16851000 17799837 18344213 19549201 20107155 21443717 22492986 26098561 28677035
Below is the graph of the ratio of (Federal) Debt to GDP (everyone gray bars indicate a recession):
FRED
140
Percent of GDP
120
100
8
60
9
20
- Federal Debt: Total Public Debt as Percent of Gross Domestic Product
1970
1975
Shaded areas indicate U.S. recessions.
1980
1985
1990
1995
Sources: OMB; St. Louis Fed
2000
2005
2010
2015
2020
fred.stlouisfed.org
Transcribed Image Text:Below is the graph of the ratio of (Federal) Debt to GDP (everyone gray bars indicate a recession): FRED 140 Percent of GDP 120 100 8 60 9 20 - Federal Debt: Total Public Debt as Percent of Gross Domestic Product 1970 1975 Shaded areas indicate U.S. recessions. 1980 1985 1990 1995 Sources: OMB; St. Louis Fed 2000 2005 2010 2015 2020 fred.stlouisfed.org
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