Re: Mythical Thinking


WannabeSomeone wrote:


The public debt to GDP ratio is rather misleading because it is only a
ratio. Now look at the real debt load of all countries:


The ratio is the useful figure, that is why it is used. Comparing the
public debt load to the GDP is more useful than just looking at the
public debt number and saying "wow thats huge". Canada is carrying a
higher debt load compared against their GDP than the US is.

http://en.wikipedia.org/wiki/List_of_countries_by_external_debt


1. This is external debt only, it doesn't include all the public debt
and does include a lot of private debt. It is not the applicable
figure when talking about government borrowing.

2. This list is comparing our gross external debt against Canda's net
external debt. Apples and oranges.

Here is a comparison of external debt calculating figures the same way.

http://www.cia.gov/cia/publications/factbook/rankorder/2079rank.html

However, we aren't talking about external debt, we are talking about
public debt. So, let's look at those figures.

Canada public debt according to CIA world factbook=734,514,000,000
per capita=22,390

US public debt=8,003,390,000,000
per capita=27,062

So, per capita our debt is slightly higher. But when you factor in the
fact that the average American also produces about 9,000 more a year
than the average Canadian you'll see we are actually doing better than
you guys by a bit. So stop your yammering about our debt and worry
about your own.

Bryce

.

Relevant Pages

  • Henry George on Public and Private Debt
    ... In favor of public debt jubilee and against state enforcement of private ... Yet the world-wide proclamation of a Jewish jubilee would at the blast of a trumpet sweep away this whole vast mass of indebtedness without the lessening by a single iota the wealth of the world. ... preparations for war. ...
    (sci.econ)
  • Official Debt and Public Debt
    ... Official Debt and Public Debt ... on whether it is accounted for on-budget or off-budget. ... spending, including interest paid on the debt, is on-budget. ...
    (sci.econ)
  • Re: U.S. national debt - Clinton did NOT balance the budget)
    ... Clinton did not have a balanced budget. ... makes up the national debt. ... The public debt is debt held by the public, ...
    (misc.survivalism)
  • Re: OT: Miguel you might like this
    ... Are the basic details on how the Federal reserve was created correct? ... The Treasury issues public debt, ...
    (rec.music.classical.guitar)
  • Re: Holy budget deficit, Batman
    ... > figures for National Debt totals for every year of the Clinton ... You will find that the Public Debt went up every ...
    (sci.econ)