Reply #19: Your NYTimes piece bring a question to mind - [View All]

[54anickel]

European countries like Germany and France have budget deficits that are at least proportionate to that of the United States. But that has not prevented European leaders from complaining about the United States' rising indebtedness to the rest of the world.

I am assuming they are comparing it to percentage of GDP. What I would like to know is what percentage of their GDP goes to debt service? The US figure is now at 78% of GDP for debt service. We learned earlier this week we will be borrowing how much just to make the interest payments on our debt?

I don't know the debt service figures for Germany and France, but I do not believe they are at all comparable. Perhaps someone has that figure available.

Gotta love this quote from that same article:

"The irreconcilable differences are clear," Mr. Greenberg said. "The Europeans have staked out a position that the weak dollar is the Americans' fault. The American view is that they don't really care."

Suck it up and bring 'em on. Sheesh, I hate this misadministration.

:grr: :nuke: :grr: :nuke: :grr: :nuke: :grr: :nuke: :grr: :nuke: