Our government is awash in deficit spending and debt. Our leaders assure us that this is sane fiscal policy. Sure, they quibble over how much to tax and how much to spend, but the truth is, even the Tea Party hasn’t proposed enough cuts to make a significant difference – and no one dares suggest more taxes to increase revenues.The result is, business as usual for the foreseeable future.
I decided to compare our economy against some of the other major economies in the world.
On a list of Debt to GDP By Country, the only major industrial economies to rank worse than we do are economically-troubled Japan and Italy. We are not in good company.