On Fri, November 7, 2014 9:09 am, Lev Lafayette wrote:
Compared with the USA, our national debt is minuscule, yet you call it "indeed large".
Actually, you're completely wrong on that. Australia's net external debt is 95% of GDP, whereas the United State is 106% of GDP. We are not "miniscule" on that ratio.
Actually, I've made a mistake there in detail but I'm even more correct in substance; those figures are gross external debt, not net. If one considers net external debt, Australia is at 54% of GDP and the United States is at 27% (both of these is 2013 figures). -- Lev Lafayette, BA (Hons), GradCertTerAdEd (Murdoch), GradCertPM, MBA (Tech Mngmnt) (Chifley) mobile: 0432 255 208 RFC 1855 Netiquette Guidelines http://www.ietf.org/rfc/rfc1855.txt