We’re #1! U.S. Gov’t Debt Is Worse Than EU & U.K. Combined
- Posted on April 10, 2012 at 4:40pm by
Becket Adams
- Print »
- Email »
The Senate Budget Committee Republican staff under Ranking Member Jeff Sessions (R-AL) released this alarming graph today:
Click for a larger image.
As the chart clearly indicates, the U.S.’ debt topped $15 trillion in 2011, while the U.K. and eurozone’s collective debt amounted to approximately $13 trillion.
Well, sure, you might say, The U.S. is just so huge. Of course our debt would be greater than the EU’s and the U.K.’s combined.
The only problem with that is that there are less people in the U.S.
Yep. Less.
“Census Bureau figures put the U.S.’ total population at 313 million. The Euro Zone’s population is almost 332 million [emphases added],” Sen. Sessions’ staff notes.
You know what this means, right? This means that U.S. debt is also larger on a per capita basis:
Oh. Well, look at that…
And as if the above information wasn’t disconcerting enough, the International Monetary Fund also points out the U.K. and eurozone’s collective Gross Domestic Product (one of the primary indicators used to gauge the healthy of an economy) for 2011 amounted to $16 trillion while the U.S. was about $15 trillion.
“We need to rein in government and unleash the extraordinary vitality and creativity of the American people,” former Massachusetts governor Mitt Romney wrote in a December op-ed, as the Weekly Standard notes. “We must not wait to suffer a crisis like Greece‘s or Portugal’s to right the ship of state.”
However, as the Weekly Standard puts it: “with charts like this, that formulation might already be out of date, considering the enormity of America’s debt burden.”
(H/T: WZ)
Popular Stories
Paper Details Obama Admin’s Alleged Secret Note Sent to Iran: If Israel Attacks, We Won’t Get Involved 591 Comments
This Is the Creationists‘ Response to Scientist Bill Nye’s Viral Pro-Evolution Video Claiming They Harm Children 417 Comments
‘Made Up Religion’: TV Historian Enrages Muslims, Receives Threats After Producing UK Documentary Questioning Islam’s Beginnings 415 Comments
President Obama Issues Major ‘Green Energy’ Executive Order 383 Comments
Roseanne Barr: Most Billionaires ‘Violent Pedophiles’ & ‘Heartless’ Cocaine Addicts 376 Comments
Faith
- This Is the Creationists‘ Response to Scientist Bill Nye’s Viral Pro-Evolution Video Claiming They Harm Children 417 Comments
Pakistani Muslim Cleric Accused of Framing Disabled Christian Girl in Koran-Burning Case Read More- ‘Made Up Religion’: TV Historian Enrages Muslims, Receives Threats After Producing UK Documentary Questioning Islam’s Beginnings 415 Comments
Meet the Controversial German Imam Accused of Brutally Beating His Wife & Pushing Sharia Law Read More
‘Self-Proclaimed Messiah’ & Unification Church Leader the Rev. Sun Myung Moon Has Died — Here’s His Life Story Read More
Business
- President Obama Issues Major ‘Green Energy’ Executive Order 383 Comments
- Germany’s Upcoming Court Ruling Will be Huge for the EU Read More
Ford Looks to Beat Toyota for Best-Selling Car in 2012 With This Model 151 Comments
Bernanke & QE3: Here’s What You Need to Know 100 Comments- ‘Extortion’: Why Did the Labor Department ‘Drop the Hammer’ on Oregon Farmers? 303 Comments
Technology
- This Is the Creationists‘ Response to Scientist Bill Nye’s Viral Pro-Evolution Video Claiming They Harm Children 417 Comments
‘TaserDrone’: Hackers Weaponize Quadcopter With Actual ‘Shocking’ Technology Read More
Ever Heard of the Wild ‘Burning Man’ Festival in the Middle of the Nev. Desert? Here’s Your Primer Read More
Stanford Develops Technology ‘Better Than Steroids’ for Athlete Recovery Read More
Have You Pretended to Know What ‘the Cloud’ Is? You’re Not Alone Read More
Submitting your tip... please wait!
Comments (68)
Wartface
Posted on April 10, 2012 at 6:43pmWe do have 313,000,000 citizens but under Obama’s economy 40% pay NO, ZERO, ZILCH in income taxes. So that shifts the burden on to use educated and productive workers.
313,000,000 minus 40% equals 187,798,122 taxpayer’s. $15,100,000,000,000 divided by 187,798,122 equals $80,405,49 per taxpayer. Me my wife and 2 working, tax paying kids owe just…$321,621.96.
Also remember that is over and above our regular income taxes, if we want to payoff this debt. Maybe my great, great,great, great, great, great, great, great, great grandkid’s will see that day. No one living on the planet today will see that happen in their lifetime.
And Congress almost shut down the government over $4 trillion dollars in reduced spending. That’s obscene.
Report Post »soybomb315
Posted on April 10, 2012 at 6:51pmthanks for that
also consider that the federal government has $2.5 tillion in revnue each year. that means the government has a debt of 6.5 times its revenue (and growing). So if your famlily makes $75,000, that is like having $500,000 in debt. YIKES
Report Post »lukerw
Posted on April 10, 2012 at 9:35pmGOD protect us from Enemies… Foreign & DOMESTIC!
Report Post »pamela kay
Posted on April 10, 2012 at 10:34pmAnd yet we have people that choose to ignore whats going on. Wake up people!
Report Post »soybomb315
Posted on April 10, 2012 at 6:21pmto paraphrase a famous line….
dont tax me dude
soybomb315
Posted on April 10, 2012 at 6:36pmman, i didnt even see that thing below…darn subconscience
Report Post »Stu D. Baker-Hawk
Posted on April 10, 2012 at 6:13pmAmerica’s best and brightest DO NOT work in Washington DC. We are so-o-o-o screwed…
Report Post »lukerw
Posted on April 11, 2012 at 7:20amOr… they do… and we are Really STUPID!
Report Post »wildwood
Posted on April 10, 2012 at 6:07pmThis just shows us we have been sending the wrong people to washington!!!!!!
Report Post »This has been building for years as congress spent way more than they had coming in!!!
Wouldn’t you think they would have figured it out years ago, that you cannot spend more than you have FITTH GRADERS COULD DO A BETTER JOB!!!!
barber2
Posted on April 10, 2012 at 6:06pmAnd the Democrats want to spend MORE ? Think we know why. Not easy to destroy a successful capitalist economy…
Report Post »FloridaFarmGirl
Posted on April 10, 2012 at 6:03pmThe good thing about being a farmer, builder and all arounf Southern person is we know how to survive!! Prepare yourselves!! God Bless the USA!!!!!
Report Post »Teabunny
Posted on April 10, 2012 at 6:10pmAmen (and us corn belt girls do alright as well! don’t knock us yankees!)
Report Post »sillyfreshness
Posted on April 10, 2012 at 6:03pmHow long can this charade go on? I bet 20 years from now we’ll still be seeing reports on how the US has more debt than Europe, Russian, Asia, the Middle East, Africa, and South America COMBINED! And yet, somehow, the US will just continue on just fine. The stock market will keep going up, inflation will still “not exist”, houses will continue to be built. It’s all a charade. There is no way we can sustain this path, but yet somehow we keep making it year after year. I keep hearing about an impending “economic collapse”, but it never happens. It’s being artificially propped up somewhere. Not 5 years, 10 years, not 20 years, not even 100 years from now. 50 years from now the US will have more debt than the entire world and all of human history combined….a trillion, trillion, trillion, trillion, trillion times a trillion to the power of 10 (basically a zillion dollars-lol) and everything will still be fine. Stocks will keep going up, houses will continue to be built, inflation won‘t exits and that’s just how it’s going to be-even 500 years from now. It’s a charade than can go on forever.
Report Post »Teabunny
Posted on April 10, 2012 at 6:15pmso sayeth Nero.
Report Post »Beckofile
Posted on April 10, 2012 at 5:55pmGet ready for the 100 trillion dollar bill just like Zimbawe. It will just be a blast. We should take the farms away from those bible beating farmers and let some so wizard like Cass Sunstein show the unemployed how to farm. Then we could be broke and hungry like Zimbawe. Our children are slaves now. Wilson screwed us good.
Report Post »Teabunny
Posted on April 10, 2012 at 6:07pmHow? do you remember …Bernanke intends to keep interest rates artificially low…0% til 2014? Our biggest threat right now, is from the Banksters and hedge funds taking control of the farms and corps like monsanto taking control of what seeds can be used, with the help of the EPA and others as well as obscure text placed in global treaties like ACTA. look it up. Hyperinflation is not possible unless Bernanke breaks his word, or 2014…after Global control is implemented. The machine is there! See Steve Jobs speech in africa on youtube. Us humans are harming the planet, our numbers need to be reduced! and they know how!
Report Post »barber2
Posted on April 10, 2012 at 5:52pmSoros must be so thrilled he invested in Obama .
Report Post »SHOESHINEBOY
Posted on April 10, 2012 at 5:31pmspeaking in my Democrat Voice: To solve this we need a Tax Increase, to 99.99% of income money, Anyone makes, (except unions, democrats, socialists, communists and industry that supports democrat elected – those don’t have to pay any taxes, if they keep supporting democrats), then after we tax them at 99.99% of income money, we tax at 99.99% of captial gains, then 99.99% of all investments, then 99.99% of all property value, then…oh hell…just take it all..excpet those excluded above…
Report Post »soybomb315
Posted on April 10, 2012 at 5:25pmOH NO – we suck again
Report Post »Itsjusttim
Posted on April 10, 2012 at 5:32pmScary huh, do you see yet the travesty that is coming, nations going broke, and more travesty, wars because that’s what beasts do, do you see what getting numbered leads to? If you do, then you can consider yourself baptized in the waters of the Lord if you see the temple, if not well…..
Report Post »Itsjusttim
Posted on April 10, 2012 at 5:34pmJesus came by this same way, through Water and Blood, and that‘s why his shoes I’m not fit to latchet.
Report Post »KidCharlemagne
Posted on April 10, 2012 at 5:24pmA large chunk of that obligation comes from the fact that OPEC profits are mostly reinvested in U.S. Treasuries though:
———————————
“The way in which oil exporters deploy their revenues has important implications for oil-importing countries. Higher oil prices reduce purchasing power in oil-importing countries and thus are a drag on their growth. But when oil exporters use the revenues from oil sales to increase their purchases of goods from oil-importing countries, these negative effects on growth are reduced. Increased purchases of foreign assets by oil exporters can also help sustain growth in oil-importing countries, albeit less directly. Such asset purchases are a form of lending: In effect, oil importers can sustain their consumption and investment spending by borrowing from oil exporters to finance their higher oil-import bills.”
http://www.newyorkfed.org/research/current_issues/ci12-9/ci12-9.html
This allows Uncle Sam to run enormous budget deficits year after year (thereby piling on debt) without having to resort to interest rate hikes in order to defend the purchasing power of the U.S. dollar.
Report Post »Teabunny
Posted on April 10, 2012 at 5:50pmso…Its fixed! We just have to hope that the OPEC nations decide to do business with us….I mean, its not like the twelvers, former Iranian guards…will in any way decide to respond to our calls for an oil embargo…with say …a trade embargo???? naw, they are much nicer than we are! they would never do that! Right?…?…?…?
Report Post »soybomb315
Posted on April 10, 2012 at 6:07pmanother thing to consider given charlemane’s comment….
what happens if an oil rich country decides to not do business in US dollars? answer: our entire financial system might crash.
libya was working towards that goal and then a magic upgrising began. iran has been moving in that direction and now they are staring another war in the face. I’m sure Kid has the links
Report Post »Itsjusttim
Posted on April 10, 2012 at 5:14pmRemember this: Put it in your temple and keep it there, this is what befalls nations who enslave their children and children’s children for the pleasures of the present, because you’re wicked slothful evil things who love the earth far too much. The future belongs to the Father, and the Father isn’t a Socialist.
Report Post »possom
Posted on April 10, 2012 at 5:08pmwatch’a expect, we support half the world. Time to quit giving money to everybody else and keep it here!
Report Post »Itsjusttim
Posted on April 10, 2012 at 5:08pmIt’s like I said: Paul has always been to my left, and Joseph has always been at my right.
Report Post »soybomb315
Posted on April 10, 2012 at 5:06pmfantastic. theres no rush – lets nominate another moderate for president. and while we’re at it, lets impune the one guy who has the guts to fix the problems
Report Post »Unix
Posted on April 10, 2012 at 5:03pmWarning to all elevator riders – going down? BANK on it people.
Report Post »JohnQTaxpayer
Posted on April 10, 2012 at 5:52pmIf we actually taught history in schools a small percentage of our population would understand this bankruptcy thing has been done many times before, and usually is followed by very nasty time and especially ugly things. It is not a recommended thing to have on a countries bucket list, it does not end well. Greece being the master of “throwing in the towel”, has done it so often in history one could not keep track. They have been around a little longer than USA and they should know better. (About 10 times longer) they will just say “uncle” and go on as before. But in the USA it will be different, can you imagine 20 million yuppies, hippies, xyz’ ers walking in the streets saying why does a cup of café latte with whipped cream from Starbucks cost 10 thousand dollars? Oh that is right we are the United States of narcissistic superman Americans, nothing bad can ever happen here, yea right.
The moral of our story (I feel like Aesop) is; a country spending more than it can tax its people is bad, do not do it, ever. And do not over tax citizens that does not work either, see Laffer curve
http://en.wikipedia.org/wiki/Laffer_curve
A Special note for those who read this and decide to go get some history books and check to see if I am right.
Put on Depends before you start learning, you will mess yourselves.
JQT
Report Post »dont_tax_me_bro
Posted on April 10, 2012 at 4:58pmGood job Obama. You should be so proud of yourself.
Report Post »CatB
Posted on April 10, 2012 at 4:55pmThank you >. Obama, Pelosi, Reid, most of the rest of the Dems .. we could NOT have done it without you ….. losers.
OMG 2012
Romney 2012 (this is the FIRST time I have said that!)
Report Post »soybomb315
Posted on April 10, 2012 at 5:12pmcould not have done it without republicans either
who do you think has raised the debt ceiling all these times?
Report Post »Itsjusttim
Posted on April 10, 2012 at 4:52pmI know isn’t it great, you’re all damned, and you’ll finally get out from under my skin.
Report Post »Itsjusttim
Posted on April 10, 2012 at 4:54pmSee, because most of you are all little demons, you’ll take each other out and get out from under my skin, and then only the conquerors will be reborn, and most of you can spend the rest of eternity as an octopus like the false Prophet Paul.
marine249
Posted on April 10, 2012 at 4:57pmwhat?
Report Post »dont_tax_me_bro
Posted on April 10, 2012 at 4:59pmLay off the sauce man! Your comments never make any sense.
Report Post »Paul
Posted on April 10, 2012 at 5:00pmOff your meds?
Report Post »CatB
Posted on April 10, 2012 at 5:01pmPious troll.
Report Post »MrSunshine
Posted on April 10, 2012 at 5:01pmI’m with ya MARINE. Jim, please back away from the keyboard and seek help. Your meds are really out of whack methinks.
Report Post »Itsjusttim
Posted on April 10, 2012 at 5:02pmI’ve been waiting a long time for this, and the bottomless pit goes down forever and ever, the worse you are the farther you’ll go.
Report Post »Itsjusttim
Posted on April 10, 2012 at 5:03pm“What?” That’s hilarious.
Report Post »Anonymous T. Irrelevant
Posted on April 10, 2012 at 5:03pmYeah, Tim, just stay in your corner mumbling to yourself. You really add nothing to any conversation and nobody normally replies to your weird comments. Why even post? Just go away.
Report Post »Unix
Posted on April 10, 2012 at 5:05pmTimmy, what gives, did you just have a stroke?
Report Post »possom
Posted on April 10, 2012 at 5:05pmMed‘s aren’t kick’in in yet huh.
Report Post »Neo Con John
Posted on April 10, 2012 at 5:08pmtimmy, read this closely,
Report Post »“DO NOT DRINK THE KOOLAIDE AND THEN POST COMMENTS”
Your ignorance is illuminating.
sawbuck
Posted on April 10, 2012 at 5:09pmTim .. You talk in riddles, you make very little sense,
Report Post »You live in a world of third person egocentric
delusional tendencies.. Your kid is a Atheist ..
Your first wife left you AND You’re a Liberal Left Racist.
And WE are the ones damned..????
Anonymous T. Irrelevant
Posted on April 10, 2012 at 4:52pmYet another campaign ad for the Republicans. So MUCH material for the MSM to ignore and not report.
Report Post »Gonzo
Posted on April 10, 2012 at 5:49pmNYT headline: Obama Makes U.S. #1 in the World!
Report Post »semihardrock
Posted on April 10, 2012 at 4:47pmCommunism is Working! Almost Home!
Report Post »Blackhawk1
Posted on April 10, 2012 at 4:51pmAnd just think….it only took Obama 3 1/2 years to get us here! Another 4 years of Democraps and the rest of the Socialist/Communist/Marxist countries will never be able to catch us.
Report Post »CatB
Posted on April 10, 2012 at 4:56pmYes .. we will soon … all be called “home” …
Report Post »barber2
Posted on April 10, 2012 at 6:01pmMaybe Putin should be on the ticket HERE or Mr Flexible Obama on the ticket in Russia . ( Wonder which one is the most Far Left ??! )
Report Post »marine249
Posted on April 10, 2012 at 4:46pmas if I didn’t know
Report Post »Jenny Lind
Posted on April 10, 2012 at 4:45pmYeah,us! All you folks that won’t vote for Romnry, remember this moment, the ball is in our court. We will either get rid of this administration or perish as a country.
Report Post »CatB
Posted on April 10, 2012 at 5:02pmExactly … this is for the country .. survive or destruction … this is it.
Report Post »soybomb315
Posted on April 10, 2012 at 5:14pmdemocrats are not the only party of big government. republicans are almost as much to blame. think about it.
republicans have the house. have boehner or mcconell pushed any sort of cuts to federal spending? Their best plan calls for the budget to balance in 2020 (under optomistic conditions)
democrats and republicans are two wings of the same bird of prey. wake up america. we need a SECOND party
Report Post »Blackhawk1
Posted on April 10, 2012 at 5:27pmsoybomb315
I believe the House has passed 20 something bills to cut spending among other things and the Democrats in the Senate have them stacked on Reids desk.
Report Post »soybomb315
Posted on April 10, 2012 at 5:34pmwhy did republicans recently raise the debt ceiling twice while requiring almost zero cuts to spending?
Report Post »I.Gaspar
Posted on April 10, 2012 at 4:42pmWe’re Number One…and obama is Number Two.
Report Post »Stoic one
Posted on April 10, 2012 at 7:08pmAnd number one is far easier to pass than number two; especially without dietary fiber.
Report Post »