The Cellar - The National Debt

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richlevy

11-02-2007 08:12 PM

The National Debt

I had a conversation with a co-worker in which I mentioned the national debt.

She took the line that the national debt vs GDP is actually low and better than many EU nations.

This is the theory put forward here, where the author doesn't see any issues until the debt/GDP rations is %75!

So, is this guy out to lunch or is he correct? Personally, if my credit card debt were %75 of my income, I'd be in deep trouble.

Undertoad

11-02-2007 08:55 PM

Do you have a mortgage?

richlevy

11-02-2007 10:36 PM

Quote:

Originally Posted by Undertoad (Post 403073)

Do you have a mortgage?

Not for %75 of the value. Also, like a mortgage, the GDP can decrease in value while the debt never will unless payments are made.

Undertoad

11-03-2007 12:15 AM

My mortgage is three times my annual salary, what's yours?

xoxoxoBruce

11-03-2007 10:41 AM

Does that mean when the national debt is paid, I'll own Halliburton?

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