...we'd be turned down! The Maastricht Treaty states that the National Debt must be NO MORE than 60% of that country's GDP. So les'see now, we're in debt to the tune of somewhere between $13 & 18T USD - depending on your source it can be as high as $21T!!!. So let's take the minimum $13T as our National Debt. The GDP for 2009 was $11.8T so let's round-up to $12T.
With me so far?
Let's crunch the numbers: we are $1T in the red w/ THE most conservative of numbers...so we're about 8% shy of even parity. Our ratio (debt to output) is 1.08 GDP or 108% of our total domestic output. Greece was only 104% & see what happened to them?...& all you O'bama-ites continue to follow the pied-piper.
The cliff looms...but please don't look up.
It'll be easier this way...
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