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Off-Topic Discussion => General Discussion => Topic started by: Kosh on October 18, 2008, 06:55:18 pm

Title: The $1 trillion deficit...........
Post by: Kosh on October 18, 2008, 06:55:18 pm
http://www.msnbc.msn.com/id/27247139/


Even for such big spenders as Bush, this is a new high, or should I say low..........
Title: Re: The $1 trillion deficit...........
Post by: BloodEagle on October 18, 2008, 08:26:10 pm
I'm going to have to start collecting bottle-caps, now.  :nervous:
Title: Re: The $1 trillion deficit...........
Post by: Polpolion on October 18, 2008, 08:48:33 pm
*waits for this to directly affect me.
Title: Re: The $1 trillion deficit...........
Post by: Androgeos Exeunt on October 19, 2008, 12:23:11 am
Now this is called over-spending. :rolleyes:
Title: Re: The $1 trillion deficit...........
Post by: BengalTiger on October 19, 2008, 04:38:25 am
Well... let's see:

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

Pretty high on the list- 27-th place out of 126, 151% GDP below the highest, and 57% above the lowest.
Title: Re: The $1 trillion deficit...........
Post by: Kosh on October 19, 2008, 05:26:02 am
Well... let's see:

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

Pretty high on the list- 27-th place out of 126, 151% GDP below the highest, and 57% above the lowest.


And alot of those countries ahead of us have really crappy economies, coincidence?
Title: Re: The $1 trillion deficit...........
Post by: Uchuujinsan on October 19, 2008, 06:20:45 am
And thats the current total debt, normally built up over 50 years or more...
To judge the situation/behaviour now, its quite irrelevant.

Quote
Since the end of August, the national debt has jumped from $9.6 trillion to $10.3 trillion
That's the interesting part
Title: Re: The $1 trillion deficit...........
Post by: Androgeos Exeunt on October 19, 2008, 06:24:51 am
I wonder how they calculate it...
Title: Re: The $1 trillion deficit...........
Post by: Mobius on October 19, 2008, 06:37:58 am
Quote
Rank                    Country              Public debt (% of GDP)
  1                                Zimbabwe                                        211.90    
  2                                   Japan                                           195.50
  3                                 Lebanon                                          186.60
  4                                Seychelles                                       144.30
  5                                 Jamaica                                          127.20
  6                                  Egypt                                             105.80
  7                                  Italy                                            104.00
  8                                Singapore                                       101.20    
  9                                  Sudan                                            98.90    
  10                                Greece                                            89.70

Wow, I thought Italy was the "best"...I found Japan's 2nd place a bit amazing, anyway...
Title: Re: The $1 trillion deficit...........
Post by: Uchuujinsan on October 19, 2008, 06:42:59 am
I wonder how they calculate it...
Well, how would you calculate your total debt..?
Title: Re: The $1 trillion deficit...........
Post by: Mobius on October 19, 2008, 06:47:51 am
You check what's missing, right? :nervous:
Title: Re: The $1 trillion deficit...........
Post by: Uchuujinsan on October 19, 2008, 08:09:37 am
How do you calculate your own total debt? You add what you owe you neighbour, the guy who sold you the car and maybe your mother -of course you are supposed to know how much you owe them, and thats your total debt.
Not different for a government, you add what you owe other countries, banks or your citizens via "treasury bonds" (I think thats how they are called in the USA), and you got your total debt.
Or am I completely misunderstanding the question?

P.S.: Spell Check not working, just lost the post because of it :/
Title: Re: The $1 trillion deficit...........
Post by: Mongoose on October 19, 2008, 02:05:16 pm
This (http://www.youtube.com/watch?v=mHRxfn-DTV4) should explain everything nicely.
Title: Re: The $1 trillion deficit...........
Post by: Excalibur on October 19, 2008, 06:32:34 pm
Australia is 105th ;)

Are there any that aren't in debt?
Title: Re: The $1 trillion deficit...........
Post by: Ghostavo on October 19, 2008, 07:02:58 pm
Australia is 105th ;)

Are there any that aren't in debt?

There are 195 countries in the world, give or take, so...
Title: Re: The $1 trillion deficit...........
Post by: Androgeos Exeunt on October 19, 2008, 07:28:44 pm
How do you calculate your own total debt? You add what you owe you neighbour, the guy who sold you the car and maybe your mother -of course you are supposed to know how much you owe them, and thats your total debt.
Not different for a government, you add what you owe other countries, banks or your citizens via "treasury bonds" (I think thats how they are called in the USA), and you got your total debt.
Or am I completely misunderstanding the question?

P.S.: Spell Check not working, just lost the post because of it :/

Yes, that's how debt is calculated. :nod:

But how do they do it on Wikipedia?
Title: Re: The $1 trillion deficit...........
Post by: Kosh on October 19, 2008, 11:53:34 pm
I just realized something, those numbers don't count the massive future unfunded liabilities we will have in the next 10 years (namely social security and medicare). If those numbers are included then the debt will increase 2 or 3 times as much as it is today.