Quote:
Originally Posted by krynski
I don't see the US paying off their debt. Its wayyy to fricken large. There will be permanent long-standing issues for the US. I don't really see them being a permanent powerhouse anymore. longevity seems to be severely impacted, and I do not believe domestic taxation will make any significant cut towards the US's debt. Ultimately, they are almost most-definitely SCREWED. I don't know so much about Canada's debt, but im pretty sure we are in a much better position. 566.7 billion in debt is a lot more manageable than 14 trillion.
|
Usually when comparing debt, you look at external debt.
The US's debt really is nowhere near as bad as many other countries when measured on a per capita or % of GDP basis:
http://en.wikipedia.org/wiki/List_of..._external_debt
You've also compared Canada's federal debt to the US's total debt. Canada's total debt is over 1 trilliion now. Slightly less than the US on a per capita and % of GDP basis but pretty comparable.