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[quote:RoXY:MV8xNTc4NDI2XzM0MDc4NjY2X0Y4RUQzMURD] [b]One Chart Explains Why Government Debt Is Dragging on the Economy[/b] Dan Steinhart, Managing Editor Wednesday, October 24, 2012 Casey Research The US has too much debt. This is no longer a controversial statement. Some may believe other problems are more urgent, or that we need to grow our way out rather than slash spending. But even the most spendthrift pundits acknowledge that the debt-to-GDP ratio of the US must decrease if we are to have a stable, prosperous economy. The private sector has reacted to this over-indebted reality as you would expect: by deleveraging. Since 2008, households and businesses have extinguished of 67% of their debt when measured against GDP. Some paid debt down purposefully, and others defaulted. For our purposes, it doesn't matter how the debt went away. Only that it did. Meanwhile, the government has done the exact opposite. It has upped its own borrowing by 52% of GDP since 2008. [b]CONTINUE: http://www.activistpost.com/2012/10/one-chart-explains-why-government-debt.html[/b] [/quote]
Economic Armageddon and You
Wondering about the American economy? This animated video explains inflation, stagflation, recession and more, all in 5 minutes.
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