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Friday, February 24, 2012

Numerology class

(just to break things up a bit)
Greece's debt-to-GDP ratio is about 190%

US debt-to-GDP ratio is about 105%
2011: US debt increased by an average of over $3billion a day

US debt is greater than the economies of the EU combined

National debt would be $25 TRILLION by 2021 under President Obama's FY13 budget proposal
Greek economy:

Jobless rate among ages 15-24 yrs reached 48%! Holy Crap!
(no numbers in US on our numbers in that same age range)
see DPs1e4 for explanation of "hyper debt" ... Think of paying $8 for a loaf of bread -- that is what will happen if we simply try to print more money to get out of debt

Short of this the only way to do it is not only to cut entitlement programs which means people can't depend on the government - but they will also have to raise taxes, even though there are fewer actual tax payers out there


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