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The real debt number is not the government debt-to-GDP ratio, but the total private and public debt-to-GDP ratio.
What's the number?
Well, when you add all the debt in the U.S. economy, it comes to a staggering 350 percent of the current GDP! The United States has entered its "Argentina" phase... YIKES!!!
Closer to 380% actually.
US Total Debt = $55.62 trillion
US GDP = $14.698 trillion
It gets even worse if you include all the US liabilities ($112.264 trillion). Which works out to just over $1,000,000 of liability per taxpayer.
In economies, most things produced are produced for sale, and sold.
Therefore, measuring the total expenditure of money used to buy things is one way of measuring production.
Note that if you cut your own firewood, it is production but does not get counted as GDP because it is never sold.Cutting Firewood for sale, is a small part of the economy, but if one counts some major activities such as child-rearing (generally unpaid) as production, GDP ceases to be an accurate indicator of production.
Similarly, say a lasting term shift from non-market provision of services (for example cooking, cleaning, child rearing, DIY repairs) to market provision of services, then this recent move will increase market provision of services and mask a dramatic decrease in actual domestic production.
The result, an overly optimistic and inflated reported GDP. This is a very big problem for nations economies, that have switched from big production economies to service economies.
I just came down by vehicle and ship from Alaska. When I hit Washington Oregon and Cali there is little doubt that a depression has hit. There were literally hundreds of homeless people in towns which hardly ever had them e.g. Grants Pass. Several large auto dealers in the Redding CA area built over 2006-2009 brand spanking new Ford dealers are now shut. Buildings are boarded up all over the Interstate 5 corridor and in all towns which I saw. Sacramento feels like a ghost town. Depression?
No doubt.
Beautifully Spoken ! And occuring in many cities . Closed dealerships and businesses. Many strip malls a ghost town..
I went to get my car fixed at my Dealership and they were closed. I drove around and * found * another dealership that would handle my car.
6 months later I drove to that dealership and it was CLOSED too !
And now our President who I have supported is in trouble fixing these debts due to the stalwart party of NO. Sad. sometimes I think that we should give the $1 for serving in Congress.
And now our President who I have supported is in trouble fixing these debts due to the stalwart party of NO. Sad. sometimes I think that we should give the $1 for serving in Congress.
I hate to be the one to break this news but that stimulus was just another same old money grab to feed the bankers and assorted other fat cats. The problem now is there is no one left to borrow from, and your idea of a pres can't just grab a few trillion more from thin air any more than you can.
Your congress is tax exempt and do not live by the same laws you and I do. They don't need your buck, but they sure won't turn it down.
While your pres stutters and mumbles trying to read the teleie, and looks up for a mirical in the sky, he is in fact hoping to find one in the sky, because he knows his a** is grass where he is, and pretty soon the only green thing of the remotest value will be green grass.
He lies telling us the economy is picking up, but it isn't and it is getting far worse. States as I type have fancy legal eagles drawing up state notes of bankruptcy.
Either America goes back to work or it dies. It's that simple and if the blasted fed would just get out of the way, instead of trying to spend the very last dime, maybe we could, but we can't hold up this waste and spending.
This economy is built like a pyramid, but at this point it's upside down, and because the Feds cut off the bottom a long time ago, before you and even Obama was born.
So it isn't all his fault, but with just 176 days as a senator he has 0 ability to do anything other than make a fool of himself, which by the way he excells at and then take the country with him.
He should have known better than to try and play with the big dogs.
And now our President who I have supported is in trouble fixing these debts due to the stalwart party of NO. Sad. sometimes I think that we should give the $1 for serving in Congress.
That party was not in charge between 2007-2010. Just to remind you.
And now our President who I have supported is in trouble fixing these debts due to the stalwart party of NO. Sad. sometimes I think that we should give the $1 for serving in Congress.
And your party of yes wants to hand a blanket amnesty out to any and all takers, they're still working to bring more cheap labor to take jobs here.
Not only that, Obama is trying to destroy truckers' jobs right now by permitting trucks from Mexico to take over our highways.
Time for the bond market vigilantes to come to the United States.
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