U.S. Per Person Debt Now 35 Percent Higher than that of Greece !
According to estimates from the International Monetary Fund, America’s total government debt will be $16.8 trillion by the end of the calendar year, compared to $441 billion for Greece," the Republican side of the Senate Budget Committee explains. "On a per person basis, that means U.S. debt is $53,400 for every man, woman, and child, compared to $39,400 for every man, woman, and child in Greece. The disparity between per capita debt in the U.S. and Greece has grown 40 percent (roughly $8,400) since 2011. Now, U.S. per person debt is 35 percent higher than that of Greece, and is also higher than per capita debt in Portugal, Italy, or Spain (which together with Greece make up the so-called PIGS countries)."
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(c) The weekly Standard:
http://www.weeklystandard.com/blogs/us-person-debt-now-35-percent-h...
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Comment by Peter jcp on December 5, 2012 at 1:57pm -
LOL - Its amazing what you can produce with stats and numbers ;-)) Yes US as got a massive debt and is in trouble etc etc - But it is also one of the worlds largest economies with massive resources etc etc.
Unfortunately Greece and Portugal just have not got the same infrastructure and GDP capabilities as the US - so really the Weekly Standard's comparison is one of comparing apples with oranges ;-)
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Comment by Ron Schelling on December 5, 2012 at 2:03pm -
Maybe this sounds better: http://www.weeklystandard.com/blogs/us-spends-more-person-portugal-...
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Comment by Peter jcp on December 5, 2012 at 2:23pm
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;-)) - the Weekly Standard love their stats - yet again against GDP - the Greeks spend per head - is way above that of the US - but would agree US could cut back by not spending so much on wars ;-))
I used to be employed at one stage to produce "bias" stats in the business world for a large conglomerate - its amazing what slants you can put on things - with a bit of imagination and no restraint's - yes - and so in the end 90% of my info was bias according to the results the companies divisions wanted to show.
The trouble is then people believe them if its suits their case ;-)
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