Does anyone know what the US debt would be like ...

[Tender Branson]

as a percentage of GDP, using strict EU-like Maastricht-criteria ?

The Maastricht criteria include all debts held by the government, states, cities and towns as well as Social Security carriers.

What would that roughly mean for the US ?

200-300% of GDP ?

Or would it be roughly the same as right now ? 100-110% ?

[Franzl]

Not entirely sure, but I'm sure tax cuts and increased military spending would help solve the problem.

[Tender Branson]

It would probably be high, because as far as I know the US debt that is 100-110% right now only includes the government debt, right ?

State, county and town/city debts as well as Social Security carrier debts are not included, right ?

[DC Al Fine]

It would probably be high, because as far as I know the US debt that is 100-110% right now only includes the government debt, right ?

State, county and town/city debts as well as Social Security carrier debts are not included, right ?

You are correct. Debt/GDP is about 1 right now, but it doesn't include local debt/SS.

[🐒Gods of Prosperity🔱🐲💸]

I believe the ~110% figure includes Social Security liabilities, but not state and municipal debts.

[Sbane]

Most states have balanced budget amendments, so the debt won't be that high (though it would be much higher if we include unfunded liabilities aka pensions). I am not sure about municipalities.

[🐒Gods of Prosperity🔱🐲💸]

http://www.usgovernmentspending.com/spending_chart_1902_2012USp_13s1li011lcn_H0sH0lH0f_US_Federal_State_Local_Debt_As_Percent_Of_GDP

State debt is about 7% of GDP. Local debt is about 12%.

[Tender Branson]

http://www.usgovernmentspending.com/spending_chart_1902_2012USp_13s1li011lcn_H0sH0lH0f_US_Federal_State_Local_Debt_As_Percent_Of_GDP

State debt is about 7% of GDP. Local debt is about 12%.

Thanks.

So, it would be roughly 120-130% under Maastricht (100% US government + 19% state and local). Would be 119% of GDP. Maastricht also includes debt from Social Security/Medicare/Medicaid etc. Does anyone know if these carriers have any debt in the US ?

[Torie]

Does it include the about 5 trillion dollars in underfunded public employee vested defined benefit pension plans, after cutting down the unrealistic rates of return that they have plugged in, per the Vanguard economist who spoke to our group in Malvern, PA last October? I think not. With realistic rates of return, maybe it is a mere 3 trillion.