* From: Jim Devine (double sigh) the graph has a new term for the so-called "national" or "public" debt. Now, it's the _American_ debt. But it is not the "American," or "national," or "public sector" debt at all. Instead it is the _government_ debt. (read the graph.) And to whom? to the public! i.e., largely to America, to the nation. It should be called the "national," "public," or "American" _asset_. If you don't think of it this way, you think of treasury bills, bonds, and notes as burdens. So you should give them to me. I'll take them off your hands.
If we in the US are to worry about debt, we should worry instead about: Clip- 4. the national debt -- by the government, the private corporations, and individuals -- to those outside the county. This means that the US has to produce more GDP than we can consume at home (or spend on fixed investment) because we have to pay interest and principal to the folks overseas. ^^^^^ CB; Are what you discuss in your first paragraph and number 4 the same thing ? Is this the one that China and Japan hold so much of, but can't hope to get paid ? Does it include the accumalated trade deficits ?
