How long can US sustain huge budget deficit?
Tuesday, 9 February 2010
From Fazle Rashid
NEW YORK, Feb 08: Rising government debts has become a growing concern in Europe and the United States but the economies of the Asian nations have remained resilient even buoyant to underpin how economic might is shifting from the west to east. China has repaid its little loans but Greece is struggling hard to fend for itself and will need huge international bailout to regain normalcy. What the major cause of concern is how long can the United States sustain huge budget deficits.
Japan has a debt load which is 219 per cent of its GDP, highest in the world. China's debt load is 20 per cent of its GDP, the lowest in the world. The United States debt load is 85 per cent of its GDP. Overall deficit level of euro countries is about 6.0 per cent of the GDP well below that of the US and Japan The securitisation market's failure to recover from its slump is complicating efforts by the financial markets to sell their unwanted assets and repair their balance sheets.
President Obama renewed his determination to combat terrorism, a possible rebellion in the Wall Street and his health care plan yesterday in a special slot during the superbowl match, the most looked after sporting event in the country. President Obama said that he would convene a half day bipartisan healthcare session at the White House to be televised live that will allow Americans to watch Democrats and Republicans try to break the political impasse.
NEW YORK, Feb 08: Rising government debts has become a growing concern in Europe and the United States but the economies of the Asian nations have remained resilient even buoyant to underpin how economic might is shifting from the west to east. China has repaid its little loans but Greece is struggling hard to fend for itself and will need huge international bailout to regain normalcy. What the major cause of concern is how long can the United States sustain huge budget deficits.
Japan has a debt load which is 219 per cent of its GDP, highest in the world. China's debt load is 20 per cent of its GDP, the lowest in the world. The United States debt load is 85 per cent of its GDP. Overall deficit level of euro countries is about 6.0 per cent of the GDP well below that of the US and Japan The securitisation market's failure to recover from its slump is complicating efforts by the financial markets to sell their unwanted assets and repair their balance sheets.
President Obama renewed his determination to combat terrorism, a possible rebellion in the Wall Street and his health care plan yesterday in a special slot during the superbowl match, the most looked after sporting event in the country. President Obama said that he would convene a half day bipartisan healthcare session at the White House to be televised live that will allow Americans to watch Democrats and Republicans try to break the political impasse.