Reply #71: GDP is a terrible way to measure debt load.

[mbperrin]

In your own example, you use INCOME to compare personal debt to see if you have a problem. Right.

But GDP is not income. It is a "magic number" that includes unsold merchandise, claimed values rather than actual sold prices, no allowance for used goods or rentals.

Income is income. In the case of governments, taxes collected. Compare those numbers, and you'll see a more accurate picture of our actual debt. Once you include unfunded future liabilities, your hair may be a bit grayer.