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Politics : Actual left/right wing discussion
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To: Hagar who wrote (2060)9/29/2006 5:40:25 PM
From: TimF   of 10087
 
I don't think it obfuscates the issue. I think it clarifies it.

lenders didn't care about the size of the mortgage compared with the value of my contribution to the company I worked for but my actual income.

GDP is the rough equivalent of national income.

If you consider it to be government debt rather than national debt, well GDP is the base that the government can tax.

Also the ability of the government to pay is not the only consideration. You also have to consider how much of a burden on the country the payments will be. The percentage of GDP represented by the debt, along with the interest rates would determine this.
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