The U.S. government is set to borrow nearly $1 trillion this year

Re:The U.S. government is set to borrow nearly $1 trillion t... by fao_ on Saturday February 03, 2018 @11:05PM (#16301263)

Meanwhile, in india: http://www.bbc.co.uk/news/world-asia-india-42899402

India's GDP: "The Gross Domestic Product (GDP) in India was worth 2263.79 billion US dollars in 2016."[0]

America's GDP: "The Gross Domestic Product (GDP) in the United States was worth 18624.48 billion US dollars in 2016."[1]

[0]: https://tradingeconomics.com/india/gdp

[1]: https://tradingeconomics.com/united-states/gdp

Your system is massively inefficient.

[ Parent | on HN ]

Re:The U.S. government is set to borrow nearly $1 trillion t... by kahnjw on Saturday February 03, 2018 @11:32PM (#16301355)

In all seriousness, the problem with insisting on comparing the US economy and the economies of China and India is that they are at very different points in economic development. The US developed huge swaths of infrastructure post WWII, and that infrastructure is aging out and it clearly shows. India and China on the other have cheap and widely available labor to develop new infrastructure.

What happens when that labor wants better pay and safer working conditions? Things will naturally slow down, and it will be hard to maintain all the infrastructure that was built during growth years. The same applies to healthcare, yes it is egregiously expensive, and life expectancy is falling slightly. On the other hand, comparing the US health care system to India's is silly. Health insurance might have high costs, but the level of care you get is far better than what you get today in India. Ten years from now, that might be a different story.

[ Parent | on HN ]

Re:The U.S. government is set to borrow nearly $1 trillion t... by matt4077 on Saturday February 03, 2018 @11:22PM (#16301319)

As percentage of GDP, India is running a deficit more than twice as high as the US (6.6% vs 2.8% over the last ten years).

But those numbers are meaningless for proving or disproving "inefficiency". The US is obviously getting far better infrastructure/education/welfare system/research/military/etc.

[ Parent | on HN ]

Re:The U.S. government is set to borrow nearly $1 trillion t... by fao_ on Sunday February 04, 2018 @07:52PM (#16305862)

> The US is obviously getting far better infrastructure/education/welfare system/research/military/etc.

Is it?

Research is on shaky ground:

http://www.sciencemag.org/news/2017/03/data-check-us-governm...

https://www.scientificamerican.com/article/dr-no-money/

https://www.theatlantic.com/science/archive/2017/03/trump-bu...

http://theconversation.com/men-get-most-of-the-research-fund...

https://www.vox.com/2016/7/14/12016710/science-challeges-res...

Welfare system is failing:

https://www.washingtonpost.com/news/wonk/wp/2014/09/29/our-i...