According to CIA public records of country government current account balances, the US is in some deep ass debt, falling behind a myriad of third world countries. Not that our debt is any mystery, seeing the a point-blank ranking of countries definitely drives the point - the Feds suck at managing our money. of course there is all sorts of controversy (scroll to bottom) surrounding the CIA itself… so who can say how accurate this ranking truly is.
Rank Order - Current account balance
Rank Country Current account balance Date of Info. 1 China $ 363,300,000,000 2007 est. 2 Japan $ 201,300,000,000 2007 est. 3 Germany $ 185,100,000,000 2007 est. 4 Saudi Arabia $ 88,890,000,000 2007 est. 5 Russia $ 74,000,000,000 2007 est. 6 Switzerland $ 67,890,000,000 2007 est. 7 Netherlands $ 59,280,000,000 2007 est. 8 Norway $ 55,820,000,000 2007 est. 9 Kuwait $ 51,490,000,000 2007 est. 10 Singapore $ 41,390,000,000 2007 est. ... 160 Italy $ -57,940,000,000 2007 est. 161 United Kingdom $ -111,000,000,000 2007 est. 162 Spain $ -126,300,000,000 2007 est. 163 United States $ -747,100,000,000 2007 est.
ultra conversative Ron Paul to the rescue (ah, if only.)
2 Comments
I’m totally parroting something I’ve heard from the Republication camp, but apparently our deficit isn’t so bad when looking at in the context of our overall GDP.
Now I need to go wash my mouth out with soap.
my original comment didn’t go through (urgh?)
anyway, I said something to the effect of: yes, absolutely, while it’s true we have the world’s 2nd highest GDP, it’s also true that we constantly over spend and mismanage that income.
for some reason, the GOP (and most politicans for that matter) thinks that’s OK. is it any wonder so many american’s live in personal debt as well?
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