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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (38832)	6/9/2000 12:49:00 PM
From: KyrosL	Read Replies (1) \| Respond to of 42523

The current fiscal year is the first when we have a real surplus -- that is a surplus excluding social security. So it is not a surprise that the overall debt (which includes the SS trust fund) only started falling in the last few months. The publicly held government debt (which excludes the SS trust fund) has been falling for two years now. And the debt as a percent of GDP, has been falling for more than 5 years. At around 35%, the US has the lowest percentage of public debt relative to GDP among developed countries. Japan's is more than three times that and European countries have an average ratio about double that. Many of these countries have also a much bigger demographic problem than the US, with their population actually falling. Sorry for being so un-bearish.