The Math - Soviet Union Collapse vs America. Debt to Wealth Ratio.Submitted by rex_84 on Mon, 07/23/2012 - 21:01
I'm tired of making the claim that America's financial collapse will be worse than the Soviet Union, so today I wanted to crunch the numbers. Bear with me if I have made a mistake somewhere and let me know so I can correct it.
Soviet Union 1990
-GDP $2.659 trillion (source Wikipedia)
-Gross External Debt $55 billion (source Wikipedia)
-Debt to GDP Ratio - 48% (source, my math)
-GDP $15.1 Trillion (source Wikipedia)
-Current National Debt (2012) $15.8 trillion. (source Wikipedia)
-Current Debt to GDP ratio - 103% (source Wikipedia)
Then add the following.
-Unfunded Liabilities $62 Trillion, $520,000 per person. (source Romney Campaign 2011) http://www.politifact.com/florida/statements/2012/may/22/mit...
Other sources quote as high as 84 Trillion (daily caller)
-Total Debt America $77 Trillion (source, my math, Mitten's numbers)
-Total Debt to GDP Ratio - 513% (source, my math)
Does this make anyone else want to throw up?
Oh here's a little extra information, again from Wikipedia. http://en.wikipedia.org/wiki/United_States_public_debt
2/3rd's of the way down.
-International Debt Comparison
Gross Debt to GDP 2011
USA - 101.5%
Russia - 9.6%
WTF is going on with our country!!!???