Bill Lear wrote: > If the U.S. [government's] debt is 90% of GDP, is it valid then to say that is > similar to a household that earns $100K per year having a $90K debt? > I realize of course that households cannot tax and cannot print > money...
One difference is that the US government owes a lot of money to itself, i.e., to its own agencies such as the Federal Reserve and the Social Security system. Another it that the US government owes a lot of the money that's left (roughly half) to the folks that officially own it, i.e., the citizens of the US. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
