| mrstickball said: Mirgro, You are sorely mistaken: http://en.wikipedia.org/wiki/List_of_countries_by_public_debt Greece - 108% UK - 69% US - 53% As for your argument about debt and capitalism, I'd argue that it is hard to have public indebtedness to others, when you control any and all entities that could loan you money (e.g. the banks). |
I was using this, and I was talking about Gross debt, not just public debt, since the not public debts also influence just how much money is in the US. But yes, if you look at public debt solely then it's closer to 50% than 100%.
As for the whole bank issue, debt is debt. It's money that you should not have. If Reagan hadn't driven up the debt back in the early 80s during the stagflation, the US would have cllapsed just as grandiosely as Russia. Reagan's missile thing never actually ruined Russia, it ruined itself, but what it did was save the US from the exact same fate. It's like saying I won in the number of HDTVs I have because I maxed out my credit card at $75k, while the other people paid in cash.
