On the radio today I heard them talking about the new budget and certain peoples concerns about Australia's debt level. It's 12x the countries GDP, but that's nothing compared to other developed countries.
I've never understood this whole concept though, if there's this much debt in the world dosnt there need to be a surplus someone for the balance to equal zero?
Is it possible for some of these countries with high debt like the USA to ever get into the black again?
And we they talk about one countries debt does that include individuals debt, credit card/mortgage etc or is it just debt that belongs to the government?
Probably all simple questions but I've always thought about them but never got around to asking someone.
I've never understood this whole concept though, if there's this much debt in the world dosnt there need to be a surplus someone for the balance to equal zero?
Is it possible for some of these countries with high debt like the USA to ever get into the black again?
And we they talk about one countries debt does that include individuals debt, credit card/mortgage etc or is it just debt that belongs to the government?
Probably all simple questions but I've always thought about them but never got around to asking someone.