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$19 TRILLION in Debt - US Debt Clock

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posted on May, 16 2016 @ 11:25 AM
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That's a lot of damn bog roll.




posted on May, 16 2016 @ 11:40 AM
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originally posted by: Ove38

originally posted by: ScepticScot

originally posted by: Ove38

originally posted by: ScepticScot
a reply to: Ove38

Why would 105% be bad? On its own debt to GDP is a meaningless measure.
Somalia has a lower debt to GDP ratio, does it have a better economy?


A low debt-to-GDP ratio indicates an economy that produces and sells goods and services sufficient to pay back debts without incurring further debt. That's why 105,27 % is bad.

No it doesn't. For a country with its own currency a higher or lower Debt/GDP ratio is neither a good nor a bad thing.
A country paying back its nominal debt with zero % growth & high unemployment would be reducing the the debt/GDP ratio but it would not be in most peoples opinion doing well.
A nations debt is just the accumulation of the deficits it runs over time. Deficits are neither inherently good or bad. If a economy needs stimulated then running a deficit is entirely the correct thing to do.


So USA will become Greece at $24 trillion debt is wrong ?


Totally and utterly wrong.
The US situation is in no way comparable to Greece as the US is the issuer of its own currency and it's debt is in that currency.
Anyone who says the US is going to become like Greece is either an idiot or a liar. If a politician says it I would assume both.



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