Same.
Cool visual of America's National Debt...
- Thread starter Spit
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Same.
look at the last picture of the mega money tower, the dude left the truck on the top
It's to stop it blowing away.
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That link Hola Adios posted is a little alarming and worth a look
http://www.usdebtclock.org/world-debt-clock.html
For all the talk of the US debt, look at the UK! The US public/external debt to GDP ratio is 77%/100% and they are bricking it. Ours on the other hand is 80%/388%!!!! The only country on the list worse than us is Portugal
http://www.usdebtclock.org/world-debt-clock.html
For all the talk of the US debt, look at the UK! The US public/external debt to GDP ratio is 77%/100% and they are bricking it. Ours on the other hand is 80%/388%!!!! The only country on the list worse than us is Portugal
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They don't. That number is a projection.
That's because all the news (here and the UK) is mainly concerned with the budget deficit. Not much of the general public knows about the debt, they're more concerned with Posh and Beck's children.
Rght, is that basically if they raise the borrowing level what it could go to then?
Theoretically I suppose, but not overnight
It's the amount of money extra needed to pay for all the future costs over the next X years based on current projections (I don't know how many years in the future it is projected, 20,30 40, 50?).
Things like their healthcare, military & civil service pensions, social security etc..
It doesn't. The number, essentially, comes from silly games (I also love the way that in the OP's image they've artificially raised the height of the 114.5 trillion by halving it's basal area).
Depends if they balance the books or not.
If they can reduce spending and raise taxes then they can turn the deficit into a surplus and reduce the debt.
Easier said than done though
Not at all. The US's current debt problem comes - mostly - from Bush Era tax cuts. A modest rise in taxation for the rich, combined with a small decrease in spending (easily achieved from the US's hideously bloated military, especially as the wars in Iraq/Afghanistan wind down) and a recovery in the economy would put the US's budget into balance. At that point inflation and continued growth will deal with the debt problem.
The only reason for the US to default is the lunacy of the debt ceiling; a completely artificial limit on their ability to pay their debts.
Debt can't increase as a % of GDP forever but it can increase in numerical value for ever.
Not really. America's economy is already growing, Germany and France are growing, China and India are growing. Assuming the idiots in congress don't cause a default, it's very likely the US economy will grow over the next 12 months and carry on growing in the following years.
It does seem more difficult to directly influence your own growth now though as the global capital market has introduced far more external factors out of each sovereign countries abilities to control.
And as has been shown over the last few years, the wests 'growth' has basically been based on consumption, funded by credit bubbles, which are unsustainable.
Yes I saw on the Daily Mail that Becks is also a good cook as well.
Amy Whinehouse died as well which is more important to DAYBREAK than the top EU finance ministers emergency summit this weekend.