U.S. National Debt

[Jerome Scuggs]

I'm not too educated on the topic, but my AP Macroeconomics teacher taught us that our national debt isn't that bad. Relative to our GDP, our national debt is at the same level as all the other countries. We just produce a lot, so of course we spend a lot. So, as veloce said, not necessarily a bad thing.

but hey, i'm not too educated on the topic.

you realize if you remove govt expenditures, which should not count as production anyways, our GDP is only 45% of what it is thought to be?

Well, United States in fact has a damn big GDP and can take care of this debt.But what catch the attention is the fact that the GDP has been going down while the debt has been rising rapidly.So, it's good to put an eye on it.

[gran guerrero]

we're in debt

what's new

[Cops]

you need to take a course in international economics bolt, then you'll understand why our huge deficit isn't necessarily a bad thing.

I think Veloce is on to something. If every person in Mexico (for example) owes $10,000, but the average person only makes $2,000 a year then technically the country owes a lot more than America does.

This is assuming that the average American makes $30,000 a year. So technically, the debt is higher but America actually owes less per person, thus they actually have a chance of paying their debt back.

I'm no economics major though.

[genocidal]

pie chart indicates death by poop

[PaulOakenfold]

Here's a pie chart:
Believe me now? Yep, we're all going to Heaven... idiots.

[not in game]

I'm not too educated on the topic, but my AP Macroeconomics teacher taught us that our national debt isn't that bad. Relative to our GDP, our national debt is at the same level as all the other countries. We just produce a lot, so of course we spend a lot. So, as veloce said, not necessarily a bad thing.

but hey, i'm not too educated on the topic.

[Veloce]

you need to take a course in international economics bolt, then you'll understand why our huge deficit isn't necessarily a bad thing.

[Bolt]

Look this news of 1999...

http://news.bbc.co.uk/2/hi/business/411973.stm

LOOK AT THEIR PROJECTION LOL

haha, couldn't be any further off

[PjOtTeR]

If that chart is correct I just gotta comment:

Gotta love Bush....

Something funny...

Look this news of 1999...

http://news.bbc.co.uk/2/hi/business/411973.stm

LOOK AT THEIR PROJECTION LOL

[Galleleo]

Cops Bolt has been lightyears behind on everything on these forums.

[Cops]

Opinions?

Obviously the debt is extremely high. I find it weird that only now are people starting to notice or care about these things (just something I've noticed, not making any references to you). Public opinion and coverage of the debt when it was 20-24k was limited, but now that it's 30-30k everyone's flipping out. I'd like to think it was high when it was at around 15k per person.

I think the problem currently is that the countries caught between a rock and a hard place, you can't turn your back on your people but carrying this load is becoming increasingly difficult. I'm also not sure of the solution to this debt, when taking debt whether it's from a financial institution, government, or private investor it's good to have a plan on how to pay back the money owed. Has America, or rather the current government said how they plan on digging themselves out of this? Possibly, but does any of it make a whole lot of sense to me? Not really.

I feel bad for you guys, but I'll be honest America's debt isn't something that concerns me all that much.

[Bolt]

[Bolt]

This is a pie chart of who the national debt is owed to