A little more than halfway down the page is a chart that shows US debt as calculated according to generally accepted accounting principles (which should be trusted more than the govt. propag… er, um, statistics) vs. GDP next to the rest of the world’s debt vs. the rest of world’s GDP.
Sorry, that’s a load of B.S. They are probably counting cumulative Social Security and Medicare payments to be made over the next 100 years (indexed for inflation) and adding them together, that’s the only way to get at total obligations = 5x GDP. Sorry, that’s not debt, that’s just a big scary meaningless figure. He’s basically saying, US government is bad and evil because they dare to guarantee health insurance and medical care to retired US citizens! omg how dare they! Of course, most banana republics don’t do that, they just let their elderly fend for themselves, so they have much better obligations-to-GDP ratios. Besides, European countries have strong social security plans and accurate analysis would show high ratios there too.
