(sigh) More Concord Coalition propaganda. There is no reason to compare the present value of projected future outlays to current income, except to frighten the children. At the very least, you would compare it to the PV of income. Then it would be in the single-digits in percentage terms. You realize that the "debt" number reflects projected outlays (and an interest rate) decades in advance (over the infinite horizon in some treatments)?
-----Original Message----- From: PEN-L list [mailto:[EMAIL PROTECTED] Behalf Of Leigh Meyers Sent: Sunday, July 08, 2007 9:48 AM To: [email protected] Subject: [PEN-L] Chart of the day Total National Debt/National Income 1957-2005 http://weblogs.annenberg.edu/digipol/natdebt-vs-natincome.gif Building 'Global Empire' on a tax base of service workers and pizza delivery drivers, and it shows... Source: http://weblogs.annenberg.edu/digipol/2007/05/imperial_overstretch.html No virus found in this incoming message. Checked by AVG Free Edition. Version: 7.5.476 / Virus Database: 269.10.2/890 - Release Date: 7/7/2007 3:26 PM -- I am using the free version of SPAMfighter for private users. It has removed 50199 spam emails to date. Paying users do not have this message in their emails. Get the free SPAMfighter here: http://www.spamfighter.com/len No virus found in this outgoing message. Checked by AVG Free Edition. Version: 7.5.476 / Virus Database: 269.10.2/890 - Release Date: 7/7/2007 3:26 PM
