Thursday, April 19, 2012

Professor Elmo explains the National debt in 1 graph


Its incomes that matter. Its incomes that pay the mortgages and supports small businesses. Not GDP. Government expenditure, however it is misspent, is incorporated into the GDP. But have the US citizens been helped? No. Increasing the national debt by 54% in the last 42 months has not had any affect whatsoever on income per capita. And thats in nominal terms. Add in inflation, and they're actually worse off than they were in 2006. To the tune of about 12%. 

Elmo cant make it any more obvious!

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