4 ms·

Sure, it's not like an individual citizen could go to his bank and withdraw the funds, but it's a national wealth and is being expressed as an amount per person

Sure, it's not like an individual citizen could go to his bank and withdraw the funds, but it's a national wealth and is being expressed as an amount per person. It's the same with your $200k debt per US citizen number. The Norwegian government just happens to have $160k in an investment fund per citizen. I'm not sure what the overall budget for Norway looks like, but I'd guess it's a bit better than the US budget.

Someone 13y ago
For the curious: http://www.statsbudsjettet.no/Statsbudsjettet-2014/English/ http://www.statsbudsjettet.no/Statsbudsjettet-2014/English/. "the structural non-oil budget deficit is estimated at NOK 135.1 billion [...] Net cash flow from petroleum activities is estimated at NOK 314 billion. [...] The consolidated surplus on the Fiscal Budget and the Government Pension Fund, including NOK 147 billion in interest and dividends, is estimated at NOK 328 billion (corresponding to 10.6 of GDP)" I guess a percent sign is missing there. That would make the surplus 10.6% of GDP.
seanmcdirmid 13y ago
> It's the same with your $200k debt per US citizen number. Not really: in a progressive system, one's share of that debt when net worth is considered is probably more like $20k, thanks to wealth disparity. And again, given equitable spending per citizen (regardless of taxes paid), they really do have about $160k per citizen in that investment fund.
- lsaferite 13y ago
  I'm curious what you're getting at with 'progressive system' statement. I was just pointing out the absolute division of the numbers for both seem like a similar, if ultimately meaningless, metric. I won't profess to be an economist and/or understand the intricate differences between the US and NO government taxing/budgeting/accounting, so any enlightenment is welcome.
adventured 13y ago
Just for reference (these aren't exact, but close enough): 2013 Norway Govt expenditures: $182 billion, per person: $36,000 2013 US Govt expenditures: $3.93 trillion, per person: $13,000 ($22,000 counting local + state; I have no idea how Norway's government spending looks locally)
- qw 13y ago
  I think the number includes local spending. Municipals are given money by the government.
  - fulafel 13y ago
    WP: "Taxation in Norway is levied by the central government, the county municipality (fylkeskommune) and the municipality (kommune)."
    - qw 13y ago
      Yes, but the money is transferred by the central government and is included in the national budget numbers that were posted earlier.
- nhaehnle 13y ago
  Keep in mind that the price level in Norway is very high. Depending on how the NOK numbers are converted in USD, the numbers might be misleading.
  - adventured 13y ago
    I understand, it's just meant to put numbers to the parent's reference.

Someone 13y ago

For the curious: http://www.statsbudsjettet.no/Statsbudsjettet-2014/English/ http://www.statsbudsjettet.no/Statsbudsjettet-2014/English/. "the structural non-oil budget deficit is estimated at NOK 135.1 billion [...] Net cash flow from petroleum activities is estimated at NOK 314 billion. [...] The consolidated surplus on the Fiscal Budget and the Government Pension Fund, including NOK 147 billion in interest and dividends, is estimated at NOK 328 billion (corresponding to 10.6 of GDP)" I guess a percent sign is missing there. That would make the surplus 10.6% of GDP.

seanmcdirmid 13y ago

> It's the same with your $200k debt per US citizen number. Not really: in a progressive system, one's share of that debt when net worth is considered is probably more like $20k, thanks to wealth disparity. And again, given equitable spending per citizen (regardless of taxes paid), they really do have about $160k per citizen in that investment fund.

lsaferite 13y ago
I'm curious what you're getting at with 'progressive system' statement. I was just pointing out the absolute division of the numbers for both seem like a similar, if ultimately meaningless, metric. I won't profess to be an economist and/or understand the intricate differences between the US and NO government taxing/budgeting/accounting, so any enlightenment is welcome.

adventured 13y ago

Just for reference (these aren't exact, but close enough): 2013 Norway Govt expenditures: $182 billion, per person: $36,000 2013 US Govt expenditures: $3.93 trillion, per person: $13,000 ($22,000 counting local + state; I have no idea how Norway's government spending looks locally)

qw 13y ago
I think the number includes local spending. Municipals are given money by the government.
- fulafel 13y ago
  WP: "Taxation in Norway is levied by the central government, the county municipality (fylkeskommune) and the municipality (kommune)."
  - qw 13y ago
    Yes, but the money is transferred by the central government and is included in the national budget numbers that were posted earlier.
nhaehnle 13y ago
Keep in mind that the price level in Norway is very high. Depending on how the NOK numbers are converted in USD, the numbers might be misleading.
- adventured 13y ago
  I understand, it's just meant to put numbers to the parent's reference.