Paying Down the Deficit…

I see the Saturday morning talkers being obsessed with the US Deficit, Mauldin, etc. In the moment, yes that is a concern. But where has a lot of our money gone since 1973, oil.

Here is what Bing says about this. “I’m sorry, but I couldn’t find any information on the percentage of US GDP spent on oil since 1973. However, according to the American Petroleum Institute (API), the oil and natural gas industry accounted for approximately 7.6% of U.S. GDP in 2015 1. The U.S. Energy Information Administration (EIA) also reports that energy intensity in the United States decreased by 58% per real dollar of GDP from 1950 to 2011.”

So as the trend to lower fossil fuel usage continues we will see more money available from our GDP being applied to debt paydown.