-------------------- No longer eligible for government service due to lack of tax issues. Posts: 5178 | From: Up North | Registered: Dec 2005
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posted
the Japanese advertise debt of 200% GDP but about half of that is intragovernmental. That is similar to, but not exactly the same as our SS "tax" being owed to ourselves too.
I think that very few people relaise that if we were to stop "owing ourselves" for SS and other "entitlements" (i hate that word, it's not a good description of the situation) our debt issue would be much less too... about 2.5 trillion of our debt is in the form of US savings bonds held for SS...
IF our debt was 94% US natioanls held? We would be in *relatively* (to t'other top industrial countries) very good shape even with this debt of about 100% of GDP. The fact is we have a cumulative trade deficit of about 10 trillion. We have not had a trade surplus since 1975. That's what is really killing US and until the TParty comes to that issue? They are just aggravating the problem with these calls to cut govt spending dramatically, because it will cut jobs and GDP at the same time.
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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