Quote:
Originally posted by onetime2
US debt as a percent of GDP is comparable to other developed nations' debt and we have far better prospects for the future than most of them.
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Well yes and no. Who do you want to compare yourself to?
Britain has no debt. (It's illegal to run a deficit in the UK)
Canada's debt rate is less than that of the US.
Germany's debt rate is less than that of the US.
France and Italy, both have rediculous debts.
Japan is a financial basket case.
Quote:
Originally posted by onetime2
Common sense with regard to money lying around would be to invest it rather than retire national debt since the interest rates paid by the government are less than what investments typically earn.
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I hear you and i understand the concept, but if you ever listen to any investment expert they will always tell you that if you should come into some money, it is best to pay off your debts.
Not all debt is bad, i understand that, and I do it myself, but there has to be a limit. I have borrowed money to make investments, but they are investments. There in lies a fundamental difference. I am not borrowing cash to finance my day to day operations of my household. I might borrow to buy an asset, but not to buy food.
I am also trying to pay my debts down.
Here's a link to US federal DEBT, not deficit, DEBT.
http://www.publicdebt.treas.gov/opd/opdpenny.htm
Here's a link to stats can for the situation that i am more familiar with...
http://142.206.72.67/03/03a/03a_005d_e.htm