Comments on: Is the United States Going Broke? http://www.neatorama.com/2006/12/20/is-the-us-going-broke/ The Neat Side of the Web Thu, 16 Feb 2012 03:26:26 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Don Turner http://www.neatorama.com/2006/12/20/is-the-us-going-broke/comment-page-1/#comment-59131 Don Turner Thu, 21 Dec 2006 18:11:43 +0000 http://www.neatorama.com/2006/12/20/is-the-us-going-broke/#comment-59131 Just keep that head in the sand, Bryan. Just keep that head in the sand, Bryan.

]]> By: XuYu http://www.neatorama.com/2006/12/20/is-the-us-going-broke/comment-page-1/#comment-59012 XuYu Thu, 21 Dec 2006 03:03:13 +0000 http://www.neatorama.com/2006/12/20/is-the-us-going-broke/#comment-59012 Deficit? Or debt? I'm confused. Deficit? Or debt? I’m confused.

]]> By: Bryan http://www.neatorama.com/2006/12/20/is-the-us-going-broke/comment-page-1/#comment-58933 Bryan Wed, 20 Dec 2006 16:30:08 +0000 http://www.neatorama.com/2006/12/20/is-the-us-going-broke/#comment-58933 So he's kind of comparing apples to oranges isn't he? He's using an extremely loose interpretation of the budget deficit (using things that aren't normally included in the deficit) and an extremely strict interpretation of the GDP. Shouldn't he be noting that the US household net worth was over 50 trillion last year? Sure, that's not normally included in the GDP but if we're going to be fudging numbers why not go whole hog? So he’s kind of comparing apples to oranges isn’t he? He’s using an extremely loose interpretation of the budget deficit (using things that aren’t normally included in the deficit) and an extremely strict interpretation of the GDP. Shouldn’t he be noting that the US household net worth was over 50 trillion last year? Sure, that’s not normally included in the GDP but if we’re going to be fudging numbers why not go whole hog?

]]> By: DJ http://www.neatorama.com/2006/12/20/is-the-us-going-broke/comment-page-1/#comment-58929 DJ Wed, 20 Dec 2006 15:46:16 +0000 http://www.neatorama.com/2006/12/20/is-the-us-going-broke/#comment-58929 I believe the 8 trillion is only the 'normal' budget, where this guy is including off-budget programs like Social Security, which could be considered part of the gov's bigger dept picture with all of the new pay-outs coming up. I believe the 8 trillion is only the ‘normal’ budget, where this guy is including off-budget programs like Social Security, which could be considered part of the gov’s bigger dept picture with all of the new pay-outs coming up.

]]> By: Bryan http://www.neatorama.com/2006/12/20/is-the-us-going-broke/comment-page-1/#comment-58916 Bryan Wed, 20 Dec 2006 13:26:01 +0000 http://www.neatorama.com/2006/12/20/is-the-us-going-broke/#comment-58916 I wonder where the 50 trillion number came from. Even the most pessimistic sources (http://www.brillig.com/debt_clock/) have it pegged as only 8 trillion (that's on an almost 13 trillion GDP). Taken in historical context, the US national debt after WWII was 150% of GDP and Britain's national debt after the Napoleonic Wars was 250% of their GDP, yet both post-war periods were times of unprecedented prosperity. I think the Union will survive. I wonder where the 50 trillion number came from. Even the most pessimistic sources (http://www.brillig.com/debt_clock/) have it pegged as only 8 trillion (that’s on an almost 13 trillion GDP).

Taken in historical context, the US national debt after WWII was 150% of GDP and Britain’s national debt after the Napoleonic Wars was 250% of their GDP, yet both post-war periods were times of unprecedented prosperity.

I think the Union will survive.

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