Global Economy Crisis Chatroom

[HappySqurriel]

Slimebeast said:

HappySqurriel said:
The United States has an employment to population ratio that is 57.8% and an unemployment rate of 22.5% (when you use the pre-1992 calculation), with a debt-to-gdp ratio above 100% and a deficit that is nearly 10% of GDP, and inflation above 6% (when you use the pre-1990 calculation). The government is growing in complexity and there is an constantly increasing cost of doing buisness in America, and this can be demonstrated simply by examining the complexity of the tax code which has grown from 8,200 pages in 1945 to 71,684 pages in 2010.

Is the government budget deficit really 10% of GDP? That can't be true.

In the past couple of years it has fallen below 10% of GDP, and the 2012 budget deficit of $1.3 Trillion represents (roughly) 9% of the entire $14.5 Trillion GDP of the USA.