And also why are you using an example of 600k cc debt? 6k debt cc is more realistic and would be easily payable by someone on 75k. Dont get me wrong, the american debt situation is not good but society still moves along while people fall through the cracks.
I didn’t compare the two. OP made this comparison.
I pointed out that the numbers were WAY underestimated.
History tells us that when a country starts to run up debt faster than it can pay it down, the government is likely to topple. Especially if it’s unwilling/unable to address the crisis directly instead of kicking the can down the road. Standard operating procedure in the U.S. is to walk out of budget discussions, ignore the problem, underfund and borrow money. Each year this happens, it should be a HUGE red flag to our citizens. Instead, its become the new normal. It is unsustainable.
The world isnt America.
And also why are you using an example of 600k cc debt? 6k debt cc is more realistic and would be easily payable by someone on 75k. Dont get me wrong, the american debt situation is not good but society still moves along while people fall through the cracks.
I think you’re missing the point.
Our national debt is about 15 times higher than our GDP.
It’s NOT like a person making $75k/yr and owing $6k. It’s much more like someone who owes $600k and makes $75k.
It’s out of control. Reckless.
Why are you comparing government debt to individual credit card debt. They’re not comparable.
The debt to gdp ratio for the us is not good but its not society ending.
I didn’t compare the two. OP made this comparison.
I pointed out that the numbers were WAY underestimated.
History tells us that when a country starts to run up debt faster than it can pay it down, the government is likely to topple. Especially if it’s unwilling/unable to address the crisis directly instead of kicking the can down the road. Standard operating procedure in the U.S. is to walk out of budget discussions, ignore the problem, underfund and borrow money. Each year this happens, it should be a HUGE red flag to our citizens. Instead, its become the new normal. It is unsustainable.