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U.S. Debt Expanding, Homeowner Equity Crashing: Report

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GDP for the full year 2008 was higher than 2007. But Q4 2008 GDP was lower compared to Q3. So towards the very end of the year, the denominator (GDP) is going down even as the numerator (Debt) is going up. On a percentage basis, this means Debt/GDP is presently rising at an accelerating rate.

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