mirgro said:
Correcty me if I'm wrong, but the US debt is still 100% of the US's GDP. I was also not sarcastic at all. The only reason the US is so ahead of everyone else right now is because back in the 80s the US started taking on huge amounts of money. Give 13 trillion to any other country in Europe, and they will be just as "great." If it hadn't started incurring huge amounts of debt what would have happened is the same thing to the other super power of the time, the one that didn't take on any debt, Russia. We know how that went. For a reference, Russia has only about $80bil, and most of that is post 2000. Just something to think about, and what all this American "greatness" really stems from, it's certainly not the rampant Capitalism that most historically challenged people in the US would have you believe though. |
Wait, what?
First off, I'm almost scared to argue with you because I'm afraid you'll launch personal attacks at me.
Second off, how is the U.S. only great now because of all the money it borrowed? If anything, the U.S. would be better off without a huge reliance on loans and a humongous national debt. Nations in Europe have huge debts too, several numbering in the trillions as well, and much higher relative to their GDP. So why aren't they great? Are trillions of dollars not enough for France and Germany to be "great?" You also forgot to mention that Russia defaulted on its debt and in the course of only a decade or so has already incurred almost 100 billion dollars in debt. That's not a huge sum, but it's a far cry from "didn't take on any debt." And yeah, America's power (or "greatness") was built on capitalism. And if American's unparalleled manufacturing and industrial capabilities aren't the result of capitalism, what would it be? Communism?
