Great infographic from CBC News … re: the U.S. Debt limit.
Takeaways below the chart …
As commonly known, the debt limit has surged under both Bush and Obama.
The debt to GDP ratio has soared under Obama … after being flat for about 20 years.
Of course, part of the ratio increase is tied to the denominator … the debt has increased faster than the slow economic recovery.
Biggest surprise (to me) is that The “inflection point” – when the debt really started to takeoff was during the Reagan presidency.
So what?
Upward trajectory has to end some day, right?
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click to play with the infographic … worth browsing.
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October 10, 2013 at 5:03 pm |
As an Argentinean I saw a country go bust in 2001 and I blame in part to the economists, mass media, and economic think tanks that they did not produce and/or publish freely in advance projections or scenario regarding debt, debt / gdp ratio, and foreign reserves / metals stock. And citizens (including myself) meanwhile enjoyed that present without questioning about the future and the risks.
Americans should demand, publish and generate public discussions of the projections of these three variables at least 5 years into the future, the implications, and propose soft landing measures.
Would love to see politicians explain directly to the public where the country is heading just like CEOs in Stockholder meetings in the corporate world.