What is U.S. Debt? - P2: Comparing Debt to GDP
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Published on Jan 2, 2012 by epipheo
View Part 1: Intro to Debt -- http://www.youtube.com/watch?v=82uXr4znILw
It is easy to look at the trillions of dollars that the U.S. owes and think, "Geez, that's a lot of money." And it is. But is it too much money? To decide this, a lot of economists like to look at debt and compare it to our Gross Domestic Product (GDP).
A few economists recently looked at the data on debt and economic growth from 44 countries over 200 years. These economists found that when a country's debt is below 90% of its GDP, the debt doesn't seem to effect the country's economy at all. But when it gets over 90%, suddenly that country begins to suffer a 1% decline in economic growth.
Today, the U.S. debt is over 100% of its GDP. The same economists have warned that we need to start correcting course now so that our mountain of debt doesn't fight against our economic recovery.
Popular Article: http://blogs.wsj.com/economics/2010/01/04/reinhart-and-rogoff-higher-debt-may...
Scholarly Article: http://www.nber.org/papers/w15639
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Top Comments
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perhaps by not spending 35% of the budget on pointless war in foreign countries, or the effortless war on drugs and regulate them with tax?
2 months ago 40
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and this was awesome!
2 months ago 11
All Comments (29)
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FIX EVERYTHING WITH RON PAUL
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woaahhh, with each video, I become more and more amazed!!! You guys are SO AMAZING!
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@Voiceoftheunheard That would be possible...if people would just be PATIENT I swear if I ran for president my campaign slogan would be "Patience, young padawans"
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Dude I love your videos, they explain things so perfectly, and the conclusion to part 1 made me click the link immediately.
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wow, who does all the animations? it looks fantastic! looks like it was done by a real professional
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This was a really good video
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upsıdǝ doʍn ʇǝxʇ ıɥ oʎ
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Well thanks guy. You now have all of us depressed, and have offered no solution. You failed to mention Japan, which has a two hundred percent debt.
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wheres part 1?
567890dan 2 months ago
Just added the link to the description.
epipheo 2 months ago 2