I don't know if its a threadjack, but I'm having trouble understanding what you are asking. Are you asking for the relationship of the national debt to globalization? I don't know that there is any. Normally people and businesses go in debt to make money. A person or business would take out a note on a capital loan, invest that capital in a worthwhile way earn back the money to pay back the loan, plus some. That is what government deficit spending is supposed to do; spend beyond the budget, spur the economy, increase the tax base, pay off the "loan" and have more money than before hand. The problem we can all agree on is that a lot of the spending going on in the government doesn't relate to spurring the economy or increasing the tax base, but is the fat in the pork-barrel. What this has to do with the significance of nation-state level data like this in the globalizing capitalist context, I don't know. But what I do know is that tax money is going to have to pay for the deficit spending one day. Today, tomorrow, it doesn't matter as much as how much we'll have to pay in taxes. In other words, by the look of it either the tax rate is going to go up or the tax base will have to expand, while at the same time the politicians remember that the money is already spent.
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"If I am such a genius why am I drunk, lost in the desert, with a bullet in my ass?" -Otto Mannkusser
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