Graph of the Day for March 6, 2010

"[President Obama said] ‘that if we keep on adding to the debt, even in the midst of this recovery, that at some point, people could lose confidence in the U.S. economy in a way that could actually lead to a double-dip recession.'  What? Huh? ...A better model, I'd argue, is Japan in the 1990s, which ran persistent large budget deficits, but also had a persistently depressed economy - and saw long-term interest rates fall almost steadily. There's a good chance that officials are being terrorized by a phantom menace - a threat that exists only in their minds."  Paul Krugman.

Source:  International Monetary Fund.

Hoven's Index for March 6, 2010

Government (all levels) debt as percentage of GDP in 2010 for various countries:

Japan:  228.6%

Iceland:  131.2%

Greece:  129.5%

Average of advanced economies:  98.3%

US:  91.8%

France:  84.9%

Ireland:  74.5%

Switzerland:  43.6%

Australia:  20.6%

Hong Kong:  0.6%

Source:  International Monetary Fund.

Graph of the Day Archive.