The National Debt

richlevy · 11-02-2007, 08:12 PM

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

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?

11-02-2007, 08:12 PM	#1
richlevy King Of Wishful Thinking Join Date: Jan 2001 Location: Philadelphia Suburbs Posts: 6,669	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. __________________ Exercise your rights and remember your obligations - VOTE! I have always believed that hope is that stubborn thing inside us that insists, despite all the evidence to the contrary, that something better awaits us so long as we have the courage to keep reaching, to keep working, to keep fighting. -- Barack Hussein Obama

11-03-2007, 10:41 AM	#5
xoxoxoBruce The future is unwritten Join Date: Oct 2002 Posts: 71,105	Does that mean when the national debt is paid, I'll own Halliburton? __________________ The descent of man ~ Nixon, Friedman, Reagan, Trump.

11-02-2007, 08:55 PM	#2
Undertoad Radical Centrist Join Date: Jan 2001 Location: Cottage of Prussia Posts: 31,423	Do you have a mortgage?

11-03-2007, 12:15 AM	#4
Undertoad Radical Centrist Join Date: Jan 2001 Location: Cottage of Prussia Posts: 31,423	My mortgage is three times my annual salary, what's yours?

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