Please do the right thing on Nov 7 and again in 2008 - Get Out and Vote!

National debt of the Uk is 7 trillion dollars; that is more than 400% of its GDP.

ND Germany: 3.6 trillion dollars, 156% of its GDP.

High taxes in those countries have not helped out their national debt problem has it?

 

You arent quoting the correct numbers. The UK debt figure is around £0.5Trillion which is 40% of GDP.

The US currently has a high national debt, you can disagree with this if you like but the numbers are there.

 

https://www.cia.gov/cia/publications/factbook/rankorder/2079rank.html

 

Thats the wrong number. That figure is all borrowing by citizens (mortgages etc).

Heres the correct like-for-like figure:

http://www.statistics.gov.uk/cci/nugget.asp?id=277

 

People really should worry about their own backyard before pretending to care about ours.

 

http://www.ukgovernmentdebt.co.uk/

 

If you insist on a CIA source:

https://www.cia.gov/cia/publications/factbook/fields/2186.html


The US has the same national debt percentage as Uganda.

 

More:

Sweden: 516billion debt, more than 200% of GDP
Denmark: 352billion debt, more than 200% GDP
France 2.8trillion debt, about 200% GDP
Netherlands 1.6trillion debt, about 400% GDP

High taxes haven't helped their debt.

 

Lorien, facts are facts. Why are you being silly? Ive given you a CIA and UK Government source, you can even check wiki and you give me a Made for adsense site?


I understand you are trying to defend Bush but the whole world knows about the national debt issue of the US - its fact.

 

I'm simply pointing out that almost every industrialized country has a debt problem. Not just the US. So while you pretend to care about our debt situation, maybe you should look a little closer to home.

Have high taxes stopped other countries from being in debt? No.

But you complain about a small tax cut that was done a few years ago here. Your argument is disingenuous.

 

You dont actually have an idea about what numbers you are posting. You are a joke.

this is the correct national debt page from the CIA:

https://www.cia.gov/cia/publications/factbook/fields/2186.html

Algeria 30.2% of GDP (2005 est.)
Angola 38.3% of GDP (2005 est.)
Argentina 72.5% of GDP (2005 est.)
Australia 16.1% of GDP (2005 est.)
Austria 65.1% of GDP (2005 est.)
Azerbaijan 11.3% of GDP (2005 est.)
Bahrain 33.5% of GDP (2005 est.)
Bangladesh 44.5% of GDP (2005 est.)
Belgium 94.3% of GDP (2005 est.)
Botswana 6.2% of GDP (2005 est.)
Brazil 51.6% of GDP (2005 est.)
Bulgaria 31.9% of GDP (2005 est.)
Cameroon 65.9% of GDP (2005 est.)
Canada 69.6% of GDP (2005 est.)
Chile 7.5% of GDP (2005 est.)
China 24.4% of GDP (2005 est.)
Colombia 49.5% of GDP (2005 est.)
Costa Rica 56.8% of GDP (2005 est.)
Cote d'Ivoire 64.5% of GDP (2005 est.)
Croatia 49.7% of GDP (2005 est.)
Cyprus Republic of Cyprus: 70.3% of GDP (2005 est.)
Czech Republic 25.9% of GDP (2005 est.)
Denmark 37% of GDP (2005 est.)
Dominican Republic 45.5% of GDP (2005 est.)

Iran 28.9% of GDP (2005 est.)
Ireland 26.7% of GDP (2005 est.)
Jamaica 128.7% of GDP (2005 est.)
Korea, South 20% of GDP (2005 est.)
Lebanon 180.5% of GDP (2005 est.)
Malawi 195.9% of GDP (2005 est.)
Malaysia 46.2% of GDP (2005 est.)
Mauritius 67.5% of GDP (2005 est.)
Mexico 17.4% of GDP (2005 est.)
Moldova 79.6% of GDP (2005 est.)
Montenegro % of GDP NA
Morocco 72% of GDP (2005 est.)
Namibia 32.7% of GDP (2005 est.)
Netherlands 52.7% of GDP (2005 est.)
New Zealand 21.3% of GDP (2005 est.)
Nicaragua 82.3% of GDP (2005 est.)
Nigeria 11% of GDP (2005 est.)
Norway 50.1% of GDP (2005 est.)
Oman 8.1% of GDP (2005 est.)
Pakistan 53.8% of GDP (2005 est.)
Panama 64.9% of GDP (2005 est.)
Papua New Guinea 42.9% of GDP (2005 est.)
Paraguay 36% of GDP (2005 est.)
Peru 38% of GDP (2005 est.)
Philippines 72.3% of GDP (2005 est.)
Poland 47.7% of GDP (2005 est.)
Portugal 63.9% of GDP (2005 est.)
Qatar 35.6% of GDP (2005 est.)
Romania 20.3% of GDP (2005 est.)
Russia 12.9% of GDP (2005 est.)
Saudi Arabia 44.2% of GDP (2005 est.)
Senegal 46% of GDP (2005 est.)
Serbia 53.1% of GDP (2005 est.)
Seychelles 167% of GDP (2005 est.)
Singapore 102.9% of GDP (2005 est.)
Slovakia 36.9% of GDP (2005 est.)
Slovenia 28.5% of GDP (2005 est.)
South Africa 35.8% of GDP (2005 est.)
Spain 42.9% of GDP (2005 est.)
Sri Lanka 92.8% of GDP (2005 est.)
Sudan 107% of GDP (2005 est.)
Sweden 50.4% of GDP (2005 est.)
Switzerland 52% of GDP (2005 est.)
Syria 40.1% of GDP (2005 est.)
Taiwan 33.6% of GDP (2005 est.)
Tanzania 65.8% of GDP (2005 est.)
Thailand 47.6% of GDP (2005 est.)
Trinidad and Tobago 43% of GDP (2005 est.)
Tunisia 59.1% of GDP (2005 est.)
Turkey 68% of GDP (2005 est.)
Uganda 64.3% of GDP (2005 est.)
Ukraine 17% of GDP (2005 est.)
United Arab Emirates 17.5% of GDP (2005 est.)
United Kingdom 43.1% of GDP (2005 est.)
United States 64.7% of GDP (2005 est.)
Uruguay 81.9% of GDP (2005 est.)
Uzbekistan 36.1% of GDP (2005 est.)
Venezuela 34.2% of GDP (2005 est.)
Vietnam 48.2% of GDP (2005 est.)
Wallis and Futuna 5.6% of GDP
Yemen 34.4% of GDP (2005 est.)
Zambia 71.5% of GDP (2005 est.)
Zimbabwe 109.8% of GDP (2005 est.)​

 

As I said, you are simply missing my point

 

YOU ARE POINTING OUT NOTHING - THE NUMBERS YOU HAVE QUOTED ARE WRONG

If you dont understand macro economics then please dont respond to my posts about macro economics.

If you want to insist that US national debt is not at a 50 year high and the uk has national debt that is 4 times the size of its GDP then go ahead!

 

Dear lorien, you have made a silly mistake with numbers please give it up now.

 

I've pointed it out several times. Are you denying that every industrialized country has a debt problem? Every country on the last, but 1 or 2 has a national debt. Is this wrong.

The numbers I quoted were for something else, but the point holds.

 

Yes I am denying that every industrialized country has a debt problem. Every country should have some debt, so the debt alone is not a bad thing. Debt is worse for non-industrialised countries.

Its the level of debt that is the issue. I am talking about the deficit Bush has maintained and the debt problem it has given the US economy. Do you not want to evaluate his economic performance? National debt as a percentage of GDP is a common benchmark and also has a significant impact on an economy.

Its a given that the rising national debt in the US is a problem, I am not going to debate this with you.

You can pretend that its not an issue and every industrialised country has the same problem (when in fact the problem is worse for non-industrialised countries).

Why don't you ask an economist about US national debt instead of getting into misinformed quibbles with me.

 

I'm not pretending it is not an issue; I'd prefer the country have little or no debt. But it isn't the case right now. Raising taxes in other (the point I've been making all along) countries has not made their debts go away. It will not help our debt go away, either. Can you not see this?

The fact is the deficit has been cut in half by about 40% because of a growing economy combined with lower taxes. This country will only grow its way out of the debt, you cannot tax it away. Which is what you'd like to let everyone believe.

 

Exactly.

mistermix, how do you plan to resolve your country's debt problem and even worse, the massive unemployment?

 

I'm getting the impression you dont fully know what you are talking about. You are saying that raising taxes in other countries hasnt made their debts go away but you are wrong.

First of all no country wants their debt to go away, they want to manage it, I'll assume this is what you meant.

Secondly national debt is a function of Government spending and taxation, these are the two macro economic figures that contribute to national debt. A universally accepted economic fact is that, all other things being equal, higher taxation will reduce national debt. Reduced gov. spending will also reduce national debt. Its the same as reducing your own personal spending and increasing your own personal income - it has the same affect on your personal debt.

Higher taxation does reduce national debt​

You are pointing at other countries and saying it didnt work for them but actually you dont have a clue. Governments all over the world increase and reduce taxation to keep their national debt figure at a sustainable level.

If you want to end this on a high note for yourself then go ahead and say something about higher taxation not reducing national debt. Go ahead but please understand that you are incorrect.

 

The difference between the UK and US debt is about 22%. Not that significant.

But how much are any of the European countries spending defending themselves from the current global wave of islamic fascism and invasion? Little, which is why they are fading quickly.

Their limp wristed socialism is their death nell especially when the US can no longer defend them. 10-20 years from now they will wish they spent the resources to defend themselves, in fact many of them can't believe whats going on right now, they are saddened their countries are being invaded.

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