[AnAmericanAbroad]

Wanna read a jaw-dropping stat that make you poop twinkies?

Uganda’s debt to GDP ration is 30.3%. In fairness, it has grown by 10% since 2007, but I’ve read the government is taking measures to bring it under control. I selected Uganda because one of my current students is from Kampala; I’m helping her in brushing up her English (she’s an online student, btw), and she’s an economist by training.

What’s ours these days? 100%, if I’m not mistaken?

Yeah, that’s right folks. Economically speaking, Uganda....yes, that Uganda, the land of Idi Amin Dada, is actually on sounder financial footing then the USA (and a good many parts of the EU as well).

I forgot who it was who said it, but wasn’t there a former US Representative that used to say, “Beam me up!” ?

Yeah. Beam me up. Please.

[wideawake]

Economically speaking, Uganda....yes, that Uganda, the land of Idi Amin Dada, is actually on sounder financial footing then the USA (and a good many parts of the EU as well).

Would you rather have 100% debt to GDP that costs you 2% in interest, or 30% debt to GDP that costs 11% in interest?

In terms of cash cost of debt service, the US pays out proportionally two-thirds of what Uganda is paying out.

Uganda is functionally more indebted than the US - certainly not on a sounder footing.

[DuncanWaring]

“Beam me up” ... don’t remember the guy’s name, but I think it started with a “T” (Toricelli or something like that?) and he was from Ohio.

[blam]

"I forgot who it was who said it, but wasn’t there a former US Representative that used to say, “Beam me up!” ? "

I believe he's still in prison too.
(Released September 2, 2009)

James Traficant