Results 1 to 5 of 5

Thread: America's Debt Is Greater than Entire Eurozone's (and U.K.'s) Combined Debt



  1. Did you find this post helpful? Yes | No

    Default America's Debt Is Greater than Entire Eurozone's (and U.K.'s) Combined Debt

    We are so screwed as a nation.
    .....

    America's Debt Is Greater than Entire Eurozone's (and U.K.'s) Combined Debt

    The Republican side of the Senate Budget Committee will release this chart later today, clearly showing that America's debt is greater than the combined debt of the entire Eurozone and the U.K.:


    As the chart shows, America's debt is currently $15.1 trillion, while the Eurozone (which includes France, Germany, Greece, Italy, Spain, the U.K., and others) has a combined debt of $12.7 trillion. (All dollar amounts are in U.S. dollars, and the data refers to closing 2011 numbers.)

    The Eurozone is larger than the United States, so America's debt per capita also exceeds the Eurozone's. According to the Census Bureau, the U.S. has a population of 313 million, whereas the Eurozone has a population in excess of 331 million.

    Republican presidential candidate Mitt Romney frequently warns that the United States should not become like Greece. "We need to rein in government and unleash the extraordinary vitality and creativity of the American people," Romney wrote in a December op-ed. "We must not wait to suffer a crisis like Greece's or Portugal's to right the ship of state."

    But with charts like this, that formulation might already be out of date, considering the enormity of America's debt burden.

    http://www.weeklystandard.com/blogs/...bt_636847.html
    .
    .
    "America -- This Will Remain The Land Of The Free Only So Long As It Is The Home Of The Brave." -- Elmer Davis

  2. #2
    Join Date
    Mar 2011
    Location
    Galt's Gulch, Texas
    Posts
    2,756


    Did you find this post helpful? Yes | No

    Default Re: America's Debt Is Greater than Entire Eurozone's (and U.K.'s) Combined Debt

    "Rein in Government" as in cutting the spending on the couch potatoes (i.e. welfare recipients). I understand Governor Christy said something similar, and he's being called "racist" this morning. I don't recall Governor Christy mentioning anything about the sex, color or creed of the couch potatoes.
    Gold and silver are money. Everything else is credit. - J.P. Morgan

    divitiae perpetuum

  3. #3
    Join Date
    May 2009
    Location
    Colorado
    Posts
    14,221


    Did you find this post helpful? Yes | No

    Default Re: America's Debt Is Greater than Entire Eurozone's (and U.K.'s) Combined Debt

    Maybe welfare recipients are a new race?
    "In this present crisis, government is not the solution to our problem; government is the problem." Ronald W. Reagan



  4. Did you find this post helpful? Yes | No

    Lightbulb Re: America's Debt Is Greater than Entire Eurozone's (and U.K.'s) Combined Debt

    An interesting tidbit: some economists have estimated American residents and businesses may hold close to US$15 TRILLION in liquid assets now sitting in financial institutions beyond US borders--the so-called offshore financial centers. All done legally through careful use of tax laws as a means to avoid taxes on these assets, no wonder why we have way too many underfunded banks and a national debt problem.
    Raymond in Sacramento, CA

    End the IRS tyranny and foster real economic growth--support FairTax (H.R. 25/S. 13)

  5. #5
    Join Date
    Mar 2011
    Location
    Galt's Gulch, Texas
    Posts
    2,756


    Did you find this post helpful? Yes | No

    Default Re: America's Debt Is Greater than Entire Eurozone's (and U.K.'s) Combined Debt

    I would think it would benefit the USA "in general" if all of those offshore funds were repatriated to the USA. If companies are going to efforts to legally reduce taxes, there must be higher taxation in having those funds in the US, versus "elsewhere". I have said before that the US Government is in tax competition with the rest of the World. If "we" treated investors better, funds would be pouring into the USA for all sorts of purposes. Rebuilding businesses, building new businesses, hiring people to do all of the above.

    When we had low unemployment, "the Employees" essentially dictated their wages. If I didn't pay them enough, they'd leave and go somewhere else that would pay them more. The Employees would be in a much stronger position as per getting a job, or leaving somewhere and getting a higher paying job. As long as unemployment is high, I The Employer can almost enforce pay cuts on employees. I won't, but other Employers would.

    Ranting over. It would be best if US tax policy treated earnings and money better. There would be a lot of cash in the US, rather than cash leaving for foreign shores. As long as the US government is hell bent on spending, raising taxes, and beating the hell out of taxpayers for those last few nickels owed, we're going to fall further and further behind in the World.
    Gold and silver are money. Everything else is credit. - J.P. Morgan

    divitiae perpetuum

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •