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To: wotan




Discussing the national debt without mentioning America's GDP is either a demonstration of ignorance or an attempt at deception.
28 posted on 05/10/2006 5:59:17 AM PDT by ElTianti
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To: ElTianti
Discussing the national debt without mentioning America's GDP is either a demonstration of ignorance or an attempt at deception.

Depends on how it's discussed.

Thanks for your very interesting graphs.

The significance of debt varies from country to country. (Should I accuse you of ignorance or deception for not pointing this out?) For example, in Japan there is an extremely high savings rate with corresponding extremely low interest rates, whereas in the US there are negative savings (last time I looked) and a real estate market increasingly in trouble. Japan also has a very large trade surplus where we have an even greater trade deficit.

Your second graph shows that under the current administration debt growth has exploded. It's rising faster than GDP now. An unsustainable rate, I think you'll agree. Don't forget that in addition to the national debt (what the government promised to pay with an instrument of indebtedness) there are other promises to pay not accounted for by it (medicare, medicaid, social security, etc.). When you add these up you get $43T last time I looked, but that is probably way too low now. Not good for your daughter or almost anybody else.

29 posted on 05/10/2006 6:39:17 AM PDT by wotan
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