Of course, as we know not many people think that debt matters much at all; however, I see the USA just notched up another level to $21 Trillion. Maybe it’s of little consequence; however, once you add in the Budget deficit, Social Security, Medicare and unfunded liabilities to me at least it looks like serious money.
Interesting to see what this weeks (20th 21st) FOMC meeting will bring, a 0.25% interest rate rise would cause a little pain in my opinion and could be in the cards if the current Gold price is indicative.
One wonders when the debt levels do start to matter apparently 185% of GDP is still OK according to Greece at least. Mind you some people there are eating from the garbage bins!!!
Total debt, including obligations to programmes such as Social Security, more than doubled between 2000-10, when it exceeded $12tn.
It represented 128% of GDP last year, according to the OECD.
That was lower than Portugal (146%) and Greece (185%) similar to the UK (123%), but more than double Denmark (53%) and Sweden (60%).
