3 ms·
GDP and government debt comparison: http://www.wolframalpha.com/input/?i=gdp%2C+debt http://www.wolframalpha.com/input/?i=gdp%2C+debt
by falava 15y ago
GDP and government debt comparison:
http://www.wolframalpha.com/input/?i=gdp%2C+debt http://www.wolframalpha.com/input/?i=gdp%2C+debt
- david927 15y agoIt's not so simple. First, GDP has reflective aspect, so that if you sell me something for $10 and I sell it to Bob for $20, GDP goes up $30. It's a much rougher figure than we expect and if there is a crisis, it may decline rapidly where the debt figure will not. Secondly and more importantly, not included in that government debt amount are future obligations. For example, in the US, unfunded obligations for government employee retirement and veterans' benefits, Social Security, Medicare and other programs are around $50 trillion. Add that in. The coming crisis will be a surprise to many. But Thanksgiving is only a black swan to the turkey, not to the butcher.