Debt

[Chris]

https://www.visualcapitalist.com/69-...e-infographic/

[Dr. Who]

https://www.visualcapitalist.com/69-...e-infographic/

Ironic isn't it.

[Cotton1]

https://www.visualcapitalist.com/69-...e-infographic/

All things being relative the US is 16% of the worlds GDP and 20% of the worlds income. We are the largest economy in the world. Its still a high debt load, nevertheless. Our domestic debt to GDP is 104% which is far above acceptable levels generally about 60-70% depending on if an economy is an established one as ours is or an emerging economy. In the case of the latter 30-40% is a stretch. For comparison dsake it was 60% when Bush left office and 105% when Obama left. My concern is we are in an almost perfect world scenario with a debt to GDP of 104%. A hiccup here could be a disaster. The phrase " systemic collapse " could enter the picture.

[Peter1469]

All things being relative the US is 16% of the worlds GDP and 20% of the worlds income. We are the largest economy in the world. Its still a high debt load, nevertheless. Our domestic debt to GDP is 104% which is far above acceptable levels generally about 60-70% depending on if an economy is an established one as ours is or an emerging economy. In the case of the latter 30-40% is a stretch. For comparison dsake it was 60% when Bush left office and 105% when Obama left. My concern is we are in an almost perfect world scenario with a debt to GDP of 104%. A hiccup here could be a disaster. The phrase " systemic collapse " could enter the picture.

I am prepared, are you?

[Cotton1]

I am prepared, are you?

Its hard to know. I keep a hedge on my stock portfolio in case we have a meltdown. As for the rest of my preparedness i dont know if any level of preperation is enough.

[Chris]

Ironic isn't it.

What?

[Peter1469]

Its hard to know. I keep a hedge on my stock portfolio in case we have a meltdown. As for the rest of my preparedness i dont know if any level of preperation is enough.

You can at least not have to be those people hurrying to the store for basics once an emergency happens.

[Dr. Who]

What?

All the so-called socialistic countries in the world provide all of those evil social safety nets without incurring a remotely similar level of indebtedness as America (and that's with universal healthcare!). It would seem that they are far more fiscally responsible without throwing the baby out with the bath water. What's America's excuse?

[Peter1469]

All the so-called socialistic countries in the world provide all of those evil social safety nets without incurring a remotely similar level of indebtedness as America (and that's with universal healthcare!). It would seem that they are far more fiscally responsible without throwing the baby out with the bath water. What's America's excuse?

Social countries? Or capitalist countries with large social welfare nets? You know, like the Nordics.

[Dr. Who]

All things being relative the US is 16% of the worlds GDP and 20% of the worlds income. We are the largest economy in the world. Its still a high debt load, nevertheless. Our domestic debt to GDP is 104% which is far above acceptable levels generally about 60-70% depending on if an economy is an established one as ours is or an emerging economy. In the case of the latter 30-40% is a stretch. For comparison dsake it was 60% when Bush left office and 105% when Obama left. My concern is we are in an almost perfect world scenario with a debt to GDP of 104%. A hiccup here could be a disaster. The phrase " systemic collapse " could enter the picture.

The bigger question is why is America's debt so high? What is America doing that most countries with similar standards of living are not? America is ground zero for capitalism today. It should have the lowest level of debt, not the highest.

Take the UK for instance:
"The welfare state is a big part of British family life, with 20.3 million families receiving some kind of benefit (64% of all families), about 8.7 million of them pensioners. For 9.6 million families, benefits make up more than half of their income (30% of all families), around 5.3 million of them pensioners. The number of families receiving benefits will be between 1 and 2 million fewer now because of changes to child tax credits that mean some working families who previously got a small amount now get nothing."
https://www.theguardian.com/politics...in-facts-myths

But by comparison the UK is only 3.5% indebted as a percentage of GDP and they have a national healthcare program.

In the US 21.3 percent of U.S. population participates in government assistance programs each month. https://www.census.gov/newsroom/pres...5/cb15-97.html

Clearly 'welfare' is not the problem, nor is public healthcare.