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February 23, 2012
'Worse Than Greece'
Topics: Political News and commentariesIt's apparently now more or less official, according to a new analysis by the office of Sen. Jeff Sessions, R-Ala., ranking member on the Senate Budget Committee, the United States has a higher per capita debt burden than any European country, including riot-ridden Greece:
Last month, the U.S. government's total out standing debt, $15,419,800,222,325, surpassed the nation's gross domestic product ($15,294,300,000,000).Zero Hedge reports that US debt to GDP passed 101% this week:
... it has taken the US 21 days to add a full percentage point to this most critical of debt sustainability ratios: but fear not, with just under $1 trillion in new debt issuance on deck in the next 9 months, we will be at 110% in no time.Greece's debt now stands at 160% of GDP, but under Barack Obama we're headed for a fast track in their direction.
Posted by Hyscience at February 23, 2012 3:45 PM
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