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 debt clock. 
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ST Coordinator – Danny Crossman
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Post debt clock.
so I got curious about the national intrest paid to china and for once decided NOT to be lazy and stumbled across this:

http://www.usdebtclock.org/

BOY does it have tons of info, but some of it might as well be russian for all that I can understand. Is anyone else familliar with this VERY depressing site for me to shoot a couple of questions about several of the individual categories on here?

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June 4th, 2011, 12:18 pm
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Post Re: debt clock.
What are you looking to know?


June 4th, 2011, 2:31 pm
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Post Re: debt clock.
ok...1st question...what the heck is a GDP Ratio?

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June 4th, 2011, 9:19 pm
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Post Re: debt clock.
So, let me explain GDP.

GDP stands for Gross Domestic Product and is a rough measure of a country's economic strength. Say you want to compare the strength of one country's economy with the strength of another country's economy, or the strength of a country's economy compared to the past. To do that you use GDP.

Its not a perfect measure by any means, and if you want info on how its calculated, look it up on wikipedia. But basically it adds up spending, savings, investment and imports/exports to get a rough measure on the strength of the economy. The US has the highest GDP of any country, although the European Union's combined GDP is higher.

The GDP/Debt ratio is then sort of a balance sheet comparison. Like for example if you have 30k of credit card debt, but you make $500k a year, well then its not really a big deal.

On the other hand if you have 30k of credit card debt, but you make only $50k a year, you're in trouble. GDP/debt ratio is pretty much the same thing.


June 5th, 2011, 6:49 pm
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Post Re: debt clock.
alright makin sense so far.

Next question...

What is the difference between "official unemployed" and "actual unemployed"? Does it have anything to do with people collecting actual unemployment benfits?

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June 5th, 2011, 10:57 pm
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Post Re: debt clock.
Sort of.

Like GDP, its hard to get an exact measure of unemployment. Who counts?

The official unemployment is, like you said, pretty much people getting unemployment benefits.

But obviously, there are still people that are unemployed, but have been unemployed for so long so as to not qualify for benefits. Or people that had 50k jobs but got laid off and so to make ends meet took that job they were way overqualified for but only pays 25k. Or people that have simply given up looking for work because they don't think they'll find a job anyway.

Actual unemployment is that second group. To call it "actual" unemployment shows the author's bias, but I--like him--think its a better representation of the status of the labor force. Official UE is 9.2%, "actual" UE is around 16-17%. If you want more info, google U3 and U6 unemployment.

Also, I should point out that how the government has calculated U3 and U6 has changed some over time, so comparing UE rates from today to the 1930s is not really a fair measure. I have read some arguments that U3 (official UE) was calculated closer to what U6 is today and thus our current UE is near great depression levels. But I've read other things disputing that and so I'm not really certain.


June 6th, 2011, 12:39 am
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Post Re: debt clock.
let me pause here to thank you once again. yer putting things in pretty clear english for me, and I appreciate it.

Moving on:is there somewhere on there that seperates the Soc Security income by actual retirment age compaired to dissability wages? I see the total for SSI, i was wondering if there was a breakdown there somewhere written in legalease that i was missing.

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June 6th, 2011, 7:47 pm
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Post Re: debt clock.
Roughly 70% of the money SS pays out goes to the workers. The other 30% goes to widows and disabled.

See: http://www.nasi.org/learn/socialsecurity/who-gets


June 6th, 2011, 10:47 pm
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Post Re: debt clock.
I should add that the GDP/Debt ratio is only calculated using public debt. This means that the money taken from Social Security and government employee pension funds are not used to determine this. If it were, the US would be closer to a 100% GDP/Debt ratio than the 60% that they claim.

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June 7th, 2011, 12:46 am
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Post Re: debt clock.
Blueskies wrote:
Roughly 70% of the money SS pays out goes to the workers. The other 30% goes to widows and disabled.

See: http://www.nasi.org/learn/socialsecurity/who-gets


wow Im actually shocked at how low the # of "disabled" soc sec collecters there are. I was expecting a MUCH higher number.... if my staff is cashing this many disability checks just at MY branch of the credit union, I thought for sure it would be much more collecting nation wide. Good lord I knew genesee county sucked but this is kinda unbelieveable to me. I will have more questions later I need to absorb this a little bit longer and let the shock and disapointement in my ...um...for lack of a better word...community pass. less than one third of one percent of the population collecting and I cant go down the block without running into a dozen collectors. just....wow.

Just a rough estimate...my branch alone cahses well over two thousand disability checks every month..just my one branch of my one credit union...and thats not even counting the ones we process from check cashing stores and their ilk...or the disabled folks who have court assigned financial caregivers. (easily another 2-3 thousand checks from one company alone)

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June 7th, 2011, 6:32 pm
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Post Re: debt clock.
ok...just found out a little more about state breakdowns of ssi collectors and breakdowns of who's "aged, and who is "blind or disabled" and i find it even more disturbing....I dont even want to mention a trend I noticed..it's almost too appauling. anyone one else wantto take a look..it's a bit outdated but im betting the percentages are still pretty accurate.

http://www.ssa.gov/policy/docs/statcomp ... able01.pdf

Notice the biggest dissability states in compairison to state budgets..(ohio, Mi, Ca, Il, LO, KY) and then one standout i cant understand....Texas. Gotta be the oil keepin em finacially healthy??or are they doing something different??

Either way I would be interested in any thoughts some of you guys might have...

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June 7th, 2011, 7:14 pm
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Post Re: debt clock.
Anyone wonder why Blind is added to disabled seperately? Wouldn't it just be disabbled?

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June 7th, 2011, 7:19 pm
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Post Re: debt clock.
steensn wrote:
Anyone wonder why Blind is added to disabled seperately? Wouldn't it just be disabbled?


to be honest i see it as a bit of a freudian (sp?) slip. they list an actual disability in a column that you , I, and EVERYBODY knows a majority of the collectors are liars and fakers. I read it like it said " REAL disabled people and the other bastards"

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June 7th, 2011, 7:23 pm
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Post Re: debt clock.
slybri19 wrote:
I should add that the GDP/Debt ratio is only calculated using public debt. This means that the money taken from Social Security and government employee pension funds are not used to determine this. If it were, the US would be closer to a 100% GDP/Debt ratio than the 60% that they claim.


You can make it worse than that. Add in private and personal debt, and it jumps up over 300%.

Which is exactly why the people who point to WWII debt levels and argue that our present problems aren't that bad are wrong. This country is collectively more indebted than any other point in its history.

Of course, this is the natural consequence of having a reserve currency. Its happened dozens of times in history, and it always ends the same.


June 8th, 2011, 10:38 pm
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Post Re: debt clock.
reserve currency? that cant be what it sounds like...

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June 9th, 2011, 12:08 am
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