Anyone else hear this stat?

[Charles_Main]

To lazy to look this up. Heard some talking head the other day say that at current spending and Borrowing Levels by 2020 The US Debt held around the world will equal 20% of the Worlds GDP.

Like I said I have not looked it up to try and confirm it. However if that is true the Tea Party people should buy Full page adds around the nation and TC spots that do nothing but repeat those words over and over.

At Current Levels US debt held around the world will equal 20% of the Worlds GDP in just 8 short years.

Just wrap your head around that one.

 

[oreo]

To lazy to look this up. Heard some talking head the other day say that at current spending and Borrowing Levels by 2020 The US Debt held around the world will equal 20% of the Worlds GDP.

Like I said I have not looked it up to try and confirm it. However if that is true the Tea Party people should buy Full page adds around the nation and TC spots that do nothing but repeat those words over and over.

At Current Levels US debt held around the world will equal 20% of the Worlds GDP in just 8 short years.

Just wrap your head around that one.

I misread your statement--and this is no surprise. The Federal Government is currently borrowing .43 cents on every dollar it spends.

In fact, the Cut--Cap & Balance bill was in an effort to keep the U.S. from NOT spending more than 18% of GDP. Greece went all the way to 150% of GDP and collapsed.

 

[Charles_Main]

To lazy to look this up. Heard some talking head the other day say that at current spending and Borrowing Levels by 2020 The US Debt held around the world will equal 20% of the Worlds GDP.

Like I said I have not looked it up to try and confirm it. However if that is true the Tea Party people should buy Full page adds around the nation and TC spots that do nothing but repeat those words over and over.

At Current Levels US debt held around the world will equal 20% of the Worlds GDP in just 8 short years.

Just wrap your head around that one.

I misread your statement--and this is no surprise. The Federal Government is currently borrowing .43 cents on every dollar it spends.

In fact, the Cut--Cap & Balance bill was in an effort to keep the U.S. from NOT spending more than 18% of GDP. Greece went all the way to 150% of GDP and collapsed.

I'm not talking about the % of our GDP our Debt is. The Stat I heard was talking about all the Bonds and T Bills held around the world that is our Debt, and stated that by 2020. Those holdings will equal 20% of the entire worlds GDP.

 

[McDowell's]

Soon we won't need a military. If we're ever attacked, all of our creditors will jump to our defense in order to protect their investments.

 

[BoycottTheday]

What a great time to devalue the dollar.

 

[dblack]

Soon we won't need a military. If we're ever attacked, all of our creditors will jump to our defense in order to protect their investments.

Or will they just be squabbling over repo rights?

 

[McDowell's]

Soon we won't need a military. If we're ever attacked, all of our creditors will jump to our defense in order to protect their investments.

Or will they just be squabbling over repo rights?

That's the other way of looking at it.

 

[Missourian]

To lazy to look this up. Heard some talking head the other day say that at current spending and Borrowing Levels by 2020 The US Debt held around the world will equal 20% of the Worlds GDP.

Like I said I have not looked it up to try and confirm it. However if that is true the Tea Party people should buy Full page adds around the nation and TC spots that do nothing but repeat those words over and over.

At Current Levels US debt held around the world will equal 20% of the Worlds GDP in just 8 short years.

Just wrap your head around that one.

I misread your statement--and this is no surprise. The Federal Government is currently borrowing .43 cents on every dollar it spends.

In fact, the Cut--Cap & Balance bill was in an effort to keep the U.S. from NOT spending more than 18% of GDP. Greece went all the way to 150% of GDP and collapsed.

I'm not talking about the % of our GDP our Debt is. The State I heard was talking about all the Bonds and T Bills held around the world that is our Debt, and stated that by 2020. Those holdings will equal 20% of the entire worlds GDP.

I think our debt is around 95% of our own GDP now.

Wouldn't surprise me a but if it was 20% of world GDP by 2020.

http://en.wikipedia.org/wiki/File:Federal_debt_to_GDP_-_2000_to_2010.png
​

 

[Big Black Dog]

Old saying... If you owe the bank $100,000, the bank owns you. If you owe the bank 4 trillion dollars, you own the bank.

 

[hellofromwarsaw]

Very scary, dupes, way to screw up the recovery. Japan's debt is 270% of gdp...

 

[Missourian]

Very scary, dupes, way to screw up the recovery. Japan's debt is 270% of gdp...

That made me LOL.

 

[hellofromwarsaw]

What was our debt after WWII? Did we survive that? You are hopelessly fear mongered...

 

[Charles_Main]

What was our debt after WWII? Did we survive that? You are hopelessly fear mongered...

Did you Bother to check the answer to your own question before you asked it?

I doubt it.

Our Debt never approached the % of WORLD GDP we are talking about.

 

[Lakhota]

Yep, Bush really screwed us!

 

[Lakhota]

Well, at least it ain't the black guy's fault...

Economists: GOP Cites Deeply Flawed CBS Report To Blame Debt On Obama | TPMDC

 

[auditor0007]

What was our debt after WWII? Did we survive that? You are hopelessly fear mongered...

Did you Bother to check the answer to your own question before you asked it?

I doubt it.

Our Debt never approached the % of WORLD GDP we are talking about.

U.S. National Debt Graph + Amazing YouTube Story of the Debt

 

[Missourian]

The Gross National Debt now stands at 97.6 percent of the nation's Gross Domestic Product - the total value of goods and services produced by labor and property in the U.S.

National debt has increased $4 trillion under Obama - Political Hotsheet - CBS News​

Worse than I thought.

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I'll take CBS's word over Talking Points Memo every day of the week...and twice on Sundays.

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Talking Points Memo (or TPM) is a web-based political journalism organization created and run by Josh Marshall, journalist and historian covering issues from a "politically left perspective,"[2].

Talking Points Memo - Wikipedia, the free encyclopedia​

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