The Mudcat Café TM
Thread #148981   Message #3464471
Posted By: Uncle_DaveO
11-Jan-13 - 08:41 AM
Thread Name: BS: debt limit. can nybody explain why
Subject: RE: BS: debt limit. can nybody explain why
Bobert, you said:

Yes, like anything that works, too much can work against you, your company or your nation... Think Greece here...

The US is not Greece... It produces more in one day than Greece produces in a year...


That last sentence means nothing much. What chiefly matters is the proportion of the debt to the national production. As the US is bigger and more productive than Greece, its very size has made possible the growth of a far greater debt.

I'm not an economist or fiscal wonk, but I do gather that Greece is proportionately in worse shape than the US. But we seem to be headed there.

Dave Oesterreich