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barkingspiders ,

I think it is measured and professionals who work in areas where this was relevant probably track this number among many others. I think the real question you are asking is why it is always framed as a % of GDP in public discussion and news reporting. Some people here point out how % of GDP can be more useful for comparing across countries with vastly different sized economies but I think we all know the real answer has more to do with how people perceive the value differently by using the larger number. Framing government debt as a % of GDP serves the zeitgeist, whatever that is.

Venator ,

The zeitgeist isn’t something that something can be in service to, it is the resulting cultural mood from other things that are being served.

I think you mean it serves the status quo.

BaldManGoomba ,

Correct me if I am wrong but isn’t this sort of the deficit.

Revenue-expenditures is deficit in the simplest terms I understand

In the guide below they don’t use gdp for national deficit but every thing I see for fiscal deficit has gdp. So I guess one is measure of nations economy versus the government budget. A nation’s economy it makes since to use gdp because that is all the money moved by productions so to show the economy of a nation’s is able to produce more than it indebts itself is important fiscaldata.treasury.gov/…/national-deficit/

RightHandOfIkaros ,

Because none of the tax revenue actually goes to paying off debt. There isn’t much left after it gets past all the politicians shoveling it into their own pockets.

yesman ,

It’s a better way to compare countries apples to apples. Two countries with similar economies may have drastic different tax policy.

Measuring it as you suggest is absolutely done and is helpful to research policy inside a country, but between countries, it’d be a poor metric.

sunzu2 ,

Why would domestic wage slave give a fuxk about this lol

yesman ,

Besides being an insult the capacity and curiosity of the working class, your comment is anti-intellectual.

HappycamperNZ ,

You’re much more diplomatic than myself.

I saw them censor their language and just went “sush, adults are talking”.

sunzu2 ,

Giving regime propgamda as gospel is now "intellectual"

🤡

HappycamperNZ ,

You clicked into the discussion

sunzu2 ,

And I am trying to get the reason from Orginal commenter

I don't think he is interested in discussion beyond what him restating generic talking point

rbesfe ,

Ass

xmunk ,

Because the people utilizing debt want to measure it against the largest number they can find… also because, in an extreme situation, the GDP is essentially the value that a government could surrender to creditors.

trolololol ,

Nope most of the GDP belongs to private sector.

xmunk , (edited )

The government has the force to seize that if they so choose… it’s unthinkable in America because of our liberties but it isn’t in other nations.

Edit: I don’t know why this is being downvoted - it’s called nationalization and it can and has happened with or without monetary compensation to business owners in various times through history… I’m not suggesting uncompensated unilateral nationalization but it has been used for debt relief in the past.

HappycamperNZ ,

You’re being downvoted because people only think in the context of their own experiences - hasn’t happened to them so it either isn’t that bad or didn’t actually happen.

sunzu2 , (edited )

Because GDP ratio is good propaganda for the ruling class and their government lapdogs.

Plebs asking too many questions about taxes would be bad news

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