The US is the poorest country?

[file cabinet]

Go here:
http://www.cia.gov/cia/publications/factbook/rankorder/2187rank.html
Scroll to the bottom...

[SheepDog]

What does 'account balance' mean, in this context?

[file cabinet]

What does 'account balance' mean, in this context?

our national debt

[SheepDog]

What do you expect from a country that defines economic growth via the GDP, 2/3 of which is from consumer spending? It's a freaking pyramid scheme.

How sustainable do you think this is?

[file cabinet]

What do you expect from a country that defines economic growth via the GDP, 2/3 of which is from consumer spending? It's a freaking pyramid scheme.

How sustainable do you think this is?

well.. I don't know how sustainable it is.. but it is only going to get worse:
http://story.news.yahoo.com/news?tmpl=story&cid=544&e=11&u=/ap/20041103/ap_on_go_pr_wh/debt_ceiling

[SheepDog]

Damn tax-and-spend liberals...

I've said it here before. The "tax cut" was a loan. We ARE going to be paying it back.

[SheepDog]

I think the POTUS should spend his new "political capital" balancing the budget instead of raising the debt.

[Groty]

The Outstanding Public Debt as of 06 Nov 2004 at 09:52:40 PM GMT is:

$7,433,689,357,098.75

The estimated population of the United States is 294,729,560
so each citizen's share of this debt is $25,222.06.

The National Debt has continued to increase an average of
$1.61 billion per day since September 30, 2003!
Concerned?


http://www.brillig.com/debt_clock/

http://www.brillig.com/debt_clock/faq.html

Kinda makes you wonder if money is actually worth anything.

[Hypnos]

This ranking should be done as a fraction of GDP.

$500 billion is not that much -- 1/4 of the federal gov't annual budget.

That being said, if it continues, the dollar will become worthless and everyone will start using E-Gold (http://egold.com). :)

[SensEye]

What does 'account balance' mean, in this context?

our national debt

No, current account balance is not national debt. Here's a definition:

The current account has three main components. Trade in goods and services is by far the largest. The other two components--net investment income and net unilateral transfers--have had a much smaller effect on the overall balance in the account.(1) The balance of trade (exports minus imports) accounts for virtually all of the current-account balance

So basically, it means the US imports more than it exports. It's not the greatest thing in the world, but not an indicator that the US is poor.

[file cabinet]

What does 'account balance' mean, in this context?

our national debt

No, current account balance is not national debt. Here's a definition:

The current account has three main components. Trade in goods and services is by far the largest. The other two components--net investment income and net unilateral transfers--have had a much smaller effect on the overall balance in the account.(1) The balance of trade (exports minus imports) accounts for virtually all of the current-account balance

So basically, it means the US imports more than it exports. It's not the greatest thing in the world, but not an indicator that the US is poor.

:whistle: I figured I would say national debt instead of "I have no idea" thanks for the clarification