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Politics : The Castle -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (219)	11/10/2002 7:58:14 PM
From: tejek	Read Replies (1) \| Respond to of 7936

I guess I have to ask.......what's wrong with living within one's means? One of the entering requirements of the EU was that national debt was to be limited to a specified percentage of GDP. The US would qualify by the EU standard. Tim, I only included that statement to show the EU was concerned with a country's debt level. Their concern suggested that debt can hurt a country's advancement. As for the US making the grade, I don't think that's correct. I think I read that the US GDP is around 10 trillion dollars per year, and I just checked and the national debt is 6 trillon. If I remember correctly, the EU requirement was that debt should not exceed more than 3% of the GDP. If I am right, the US would not make the cut. ted