Comment on Why is goverment debt not calculated as a % of tax revenues instead of GDP?
xmunk@sh.itjust.works 4 weeks ago
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@lemmy.world 4 weeks ago
Nope most of the GDP belongs to private sector.
xmunk@sh.itjust.works 4 weeks ago
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.
HappycamperNZ@lemmy.world 4 weeks ago
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.