Help, verify USA debt levels

Discussion in 'Economics' started by FrostBead, Aug 19, 2011.

  1. Hi, all over Swedish news they're talking about the crisis (duh!). But the numbers they are throwing around confuses the hell out of me.

    During the Obama administration:

    Government debt 65 --> 81 %

    Private debt 100 --> 90 %

    Corporate debt 80 --> 74 %

    Financials' debt 123 --> 95 %

    If someone has anywhere to confirm numbers can they post source too? I thought government debt passed 100 % of GDP recently. Sucks to pike around on free services ;D, you don't know what the hell you're getting...
  2. Well you are asking a difficult question. I guess it means what should you include. The Repbulicans will include future liabilities, in which case you are looking at hundreds of trillions. If you want the current debt levels it is around $14 trillion but will now rise to around $17 trillion by the time Obama is finished. I think it is higher than that and it is off balance sheet.

    Anyway I am as confused as you.
  3. I guess you shouldn't include future pension liabilities, easier to compare. Pretty sure noone does that. :p
  4. You'd be surprised.
  5. Yeah, the gov't can just refuse to pay SS, Medicare, etc, somewhere down the road. Everyone would understand. So those aren't real obligations. :confused:

    FWIW, the studies that show the "solvency" of these programs have assumptions that are ridiculously optimistic (they assume both strong economic growth and austerity measures in the future...go figure!)
  6. Eight


    Once one accepts the idea that the promises cannot be met the game is then about who gets thrown under the bus...