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Note federal govt debt is 420-some billion so no clue where the just-under 1 trillion figure is coming from. But then, THANKFULLY, I'm NOT an economist!!
Also worth looking at government dept to GDP ratio - a more indicative figure of what constitutes too much debt. Greece over 170% (very bad), US over 100% (bad), Australia ~30% (not bad at all).[/QUOTE]
That's a cool graphic. There's a similar one in New York Times Square I think it is that shows US national debt and its flying up.
$420 billion is a big number but 30% debt to GDP is a low number. It just shows how poorly off a lot of western countries are. Also how many got suckered into debt over the GFC scare that made their deficit spending go through the roof funded by debt.
A good sales tactic.
Greg.
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