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shared by bparksj28 on 27 May 13 - No Cached

shared by bparksj28 on 12 Nov 12 - No Cached

. Out of 22 advanced economies in the mix, 14 of them breached the 100% debt-to-GDP threshold at least once between 1875 and 1997. (The high debt came from nat
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The good news: the nations that built up high debt still exist.
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The bad news: working off heavy debt loads takes an incredibly long time. Fifteen years after breaching the 100% mark, the median debt-to-GDP ratio was only 10 percentage points lower, the IMF said in a new report released Thursday
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Among the countries in the 100% club: Japan, Greece, Italy, Portugal, Ireland and the U.S. (U.S policymakers and credit-rating firms tend to put the U.S. debt-to-GDP ratio at 73%, based on marketable securities held by the public. Gross debt — the $16 trillion figure we see most often — includes money the government owes itself, like for Social Security. But the IMF uses the gross debt figure here.)
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