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Author Topic:   The Debt Clock
New Cat's Eye
Inactive Member


Message 8 of 114 (702558)
07-09-2013 10:09 AM
Reply to: Message 7 by Theodoric
07-09-2013 8:16 AM


Re: Blues Clues
Well I don't know shit about economics. But the link in the OP says "Current Global Public Dept".
So off to wiki I go...
quote:
Government debt (also known as public debt and national debt) is the debt owed by a central government. By contrast, the annual "government deficit" refers to the difference between government receipts and spending in a single year, that is, the increase of debt over a particular year.
Governments usually borrow by issuing securities, government bonds and bills. Less creditworthy countries sometimes borrow directly from a supranational organization (e.g. the World Bank) or international financial institutions.
As the government draws its income from much of the population, government debt is an indirect debt of the taxpayers. Government debt can be categorized as internal debt (owed to lenders within the country) and external debt (owed to foreign lenders).
Here's what Coyote said:
There is no such thing as government debt.
All "government debt" is money spent by the government but actually owed by people and corporate "persons."
That doesn't seem wholly inaccurate to me.
Although, the link in the OP says this:
quote:
After all, world governments owe the money to their own citizens, not to the Martians.
So who owns the dept, who's it due to?
Edited by Catholic Scientist, : No reason given.
Edited by Catholic Scientist, : No reason given.

This message is a reply to:
 Message 7 by Theodoric, posted 07-09-2013 8:16 AM Theodoric has not replied

Replies to this message:
 Message 9 by Coyote, posted 07-09-2013 10:25 AM New Cat's Eye has not replied
 Message 15 by AZPaul3, posted 07-10-2013 1:14 AM New Cat's Eye has seen this message but not replied

  
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