reply to post by anthonygillespie2012
Per Capita is a pretty stupid way to measure debt. In reality you have to measure (if per capita) by Personal Income. Total outstanding debt vs.
Of course there is actually only one relevant
way to calculate Government debt and that is Debt vs. Revenue. The same way we measure personal
debts.. what is the total outstanding government debt vs. revenue.
Let's break it down:
Fiscal Year 2011 USA Government Revenue: $2.3T
Fiscal Year 2011 USA Government Spending: $3.6T
Fiscal Year 2011 USA Government Deficit: $1.3T
Or 156% of total revenue.
Fiscal Year 2011 Greek Government Revenue: $90B Euros
Fiscal Year 2011 Greek Government Spending: $114B Euros
Fiscal Year 2011 Greek Government Deficit: $24B Euros
Or 126% of total revenue.
That would make the United States significantly worse off than Greece. Of course.. the United States can Monetize it's debt (print money, buy it's
own treasuries, pay back the interest and call it a profit)
Now consider this.. The power of fraud:
The United States bailed out Freddie Mae and Freddie Mac, two privately owned corporations, with public stock. The companies benefit no one but share
holders and employees of the company.
Total bailout size: $400 billion dollars.
Greece, a country of 10.7 million people.. runs a deficit of $24 billion euros. ($32.2 billion dollars)
We could finance the entire Greek deficit for 12 and a half years, benefiting the lives of millions of people... just in the amount that we gave TWO
I find it a fascinating display of Human psychology.. I'm not advocating bailing out Greece.. but the scope of the Bailouts vs. the garbage the Euro
Zone is calling a "dire situation" is well ....... fascinating.