CBO says debt will reach 62 percent of GDP by year's end

[Heracles 417]

As a recap to ########'s recent posts for anyone else who might visit this thread, he has stated that the unemployed are "whiners" and if they can't make it, they should be allowed to die without assistance..........

I am just amazed that someone paid attention to ##########.

[mawilson 2,133]

62 percent? Our debt is already close to 91% of GDP.

http://usdebtclock.org/

US National Debt: $13,120 billion

US GDP: $14,428 billion

13,120 / 14,428 = 90.93%

[I AM NOT THAT GUY 5,715]

62 percent? Our debt is already close to 91% of GDP.

http://usdebtclock.org/

US National Debt: $13,120 billion

US GDP: $14,428 billion

13,120 / 14,428 = 90.93%

You know the answer to that one: Total debt, which includes funds the Government owes itself versus National Debt, which monies the Government actually borrowed, not justed moved from one account to another.

[mawilson 2,133]

You know the answer to that one: Total debt, which includes funds the Government owes itself versus National Debt, which monies the Government actually borrowed, not justed moved from one account to another.

Yes I do, and it's still debt. When the government "borrows" money from itself (i.e. the Social

Security trust fund) and puts IOUs in its place, it counts. It's still an unfunded liability.

[I AM NOT THAT GUY 5,715]

Yes I do, and it's still debt. When the government "borrows" money from itself (i.e. the Social

Security trust fund) and puts IOUs in its place, it counts. It's still an unfunded liability.

I agree, and when you project the unfunded liabilities over the next 25 years, then you get a really scary number 5 or 6 times the number you prefer.