[almcbean]

“That’s like having $50,000 in debt on a $50,000-a-year salary”.

That’s a wrong statement, and leaves the impression that it’s not that bad.

This is the federal government’s debt we’re talking about, and the author is comparing it to the economic activity of the entire nation. The Government’s “income” is currently about 2.3-2.4 trillion, and if its debt becomes equal to 100% of GDP, that debt is 14 to 15 trillion.

So it’s more like having a $350,000 debt on a $50,000 income.

[bolobaby]

Darn. You beat me to #10.

[2001convSVT]

So it’s more like having a $350,000 debt on a $50,000 income.

And having to pay $50,000 a year in interest payments alone.