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Reply #23: "Total Debt to GDP ratio running at 360%, (more like 380% after all the recent idiocy) " [View All]

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Hannah Bell Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Sep-18-08 05:23 AM
Response to Original message
23. "Total Debt to GDP ratio running at 360%, (more like 380% after all the recent idiocy) "
2006 GDP = 13+ trillion
US debt = 9+ trillion

debt = 69% of gdp.

That's like me making 50K/year & taking out a mortgage for 34.5K.

Add the trillion or so that's been wiped out in the last couple of days to the debt, it's still nowhere near 360%.

I mistrust folks who come on hyping the fear. You seem to be promoting bank runs.
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