Mirror, Mirror, on the Wall, Which Nation Has the Most Debt of All?

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Mirror, Mirror, on the Wall, Which Nation Has the Most Debt of All?

May 22, 2011 by Dan Mitchell

Last night, I spoke at the closing dinner of the European Resource Bank. My message was simple and straightforward: Entitlement programs are killing the developed world.

That’s not exactly a surprise, but what may be shocking is America’s relative position. In my remarks, I shared with the audience some data from a 2010 study by the Bank for International Settlements, and I’m including below charts directly copied from the study.

The charts show projected debt as a share of GDP in 12 nations. The top line is the “baseline estimate” and the lower lines show what will happen if nations limit entitlement outlays. (you can click on the different charts for a clearer image)

Amazingly, the long-term position of the United States is worse than either Greece or Portugal. Indeed, the only nations in more trouble than the United States are Japan and the United Kingdom.

Something to keep in mind next time you hear Obama, Reid, or Pelosi demagogue against Congressman Ryan’s Medicare proposal.

Posted in Big Government, Debt, Deficit, Dependency, Entitlements, Fiscal Policy, Government Spending | Tagged Big Government, Debt, Deficit, Dependency, Economics, Entitlements, Fiscal Policy, Government Spending | 209 Comments

209 Responses

on January 21, 2023 at 11:10 pm Dan Mitchell: Trump embraced huge tax increases by default. He told congressional Republicans to ignore America’s slow-motion crisis of entitlement spending. | The Daily Hatch

[…] look at these numbers from the Bank for International Settlements and OECD to see how our fiscal future is bleaker than many of Europe’s welfare […]
on January 8, 2023 at 9:53 am Dan Mitchell: I’m a big fan of tax competition! | The Daily Hatch

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of […]
on December 4, 2022 at 9:11 pm Dan Mitchell: The Laffer Curve helps to illustrate that excessive tax rates result in less taxable activity. | The Daily Hatch

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of […]
on November 21, 2022 at 2:09 am Dan Mitchell on ARGENTINA: The most important passage in the above excerpts is that “Roughly half the country either works for the government or depends on it for social welfare benefits.” | The Daily Hatch

[…] is overheated rhetoric (yes, I’m prone to hyperbole), check out these dismal numbers from the Bank for International Settlements and the Organization for Economic Cooperation and […]
on November 13, 2022 at 2:06 pm Dan Mitchell: Republican Warfare, Part III: National Conservatism and Massive Tax Increases | The Daily Hatch

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of […]
on November 3, 2022 at 11:18 pm Dan Mitchell: In cases where taxpayers have a lot of control over the timing, level, and composition of their income, changes in tax rates may cause big changes in taxable income (or “tax base” in the jargon of economists)! | The Daily Hatch

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of […]
on October 29, 2022 at 11:57 pm Dan Mitchell: European Fiscal Policy Week, Part VI: The Swiss Spending-Cap Solution | The Daily Hatch

[…] is heading into the fiscal toilet. Indeed, both the BIS and OECD predict that our long-run fiscal situation is more perilous than Europe’s welfare […]
on October 29, 2022 at 8:53 pm Dan Mitchell: European Fiscal Policy Week, Part IV: Bad U.K. Monetary Policy Leads to Bad U.K. Fiscal Policy | The Daily Hatch

[…] shared BIS and OECD data showing that the United States has a bigger long-run fiscal burden than […]
on October 29, 2022 at 7:50 pm Dan Mitchell: European Fiscal Policy Week, Part III: A Continent-Wide Spending Problem | The Daily Hatch

[…] is heading into the fiscal toilet. Indeed, both the BIS and OECD predict that our long-run fiscal situation is more perilous than Europe’s welfare […]
on October 29, 2022 at 6:49 pm Dan Mitchell: European Fiscal Policy Week, Part II: The Right Response to Italy’s Fiscal Crisis | The Daily Hatch

[…] is overheated rhetoric (yes, I’m prone to hyperbole), check out these dismal numbers from the Bank for International Settlements and the Organization for Economic Cooperation and […]
on October 20, 2022 at 6:04 pm Dan Mitchell: In the case of business taxation, the most visually powerful evidence for the Laffer Curve is what happened to corporate tax revenue in Ireland after the corporate tax rate was slashed from 50 percent to 12.5 percent! | The Daily Hatch

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of […]
on October 2, 2022 at 9:13 pm Dan Mitchell: The bottom line is that Americans earn more and keep more. Something to keep in mind the next time one of our leftist friends agitates to make America more like Europe! | The Daily Hatch

[…] Though, to be fair, France hasn’t gotten to the point where it’s being bailed out (it’s probably just a matter of time). […]
on September 30, 2022 at 5:54 pm DAN MITCHELL: Most people have heard of the Laffer Curve, which shows that there is a non-linear relationship between tax rates and tax revenues (for instance, doubling tax rates won’t produce a doubling of tax revenue because people and businesses wil

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of […]
on September 21, 2022 at 5:26 pm Dan Mitchell: As you can see, the poorest people in America are about equal to the poorest people in Germany, France, Canada, and the United Kingdom, but Americans are ahead of their peers when looking at the top 90 percent of the population. | The Daily

[…] Though, to be fair, France hasn’t gotten to the point where it’s being bailed out (it’s probably just a matter of time). […]
on September 13, 2022 at 5:33 pm Dan Mitchell: Heck, given the grotesque inefficiency of government and the economic harm caused by excessive spending, we get negative value from our taxes! | The Daily Hatch

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of […]
on August 5, 2022 at 5:17 pm Dan Mitchell: The important thing to understand is that a high marginal tax rate (i.e., the tax rate on earning more money) has a big effect on incentives to work, save, invest, and be entrepreneurial! | The Daily Hatch

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of […]
on July 28, 2022 at 5:43 pm Dan Mitchell: The good news is that all these arguments helped produce a tax bill that dropped America’s federal corporate tax rate by 14 percentage points, from 35 percent to 21 percent! | The Daily Hatch

[…] Though, to be fair, France hasn’t gotten to the point where it’s being bailed out (it’s probably just a matter of time). […]
on July 23, 2022 at 9:27 pm Dan Mitchell: In an ideal world, there would be no corporate income tax (or any income tax)! | The Daily Hatch

[…] Though, to be fair, France hasn’t gotten to the point where it’s being bailed out (it’s probably just a matter of time). […]
on July 23, 2022 at 9:07 pm Daniel Mitchell article Wealth Taxation and Economic Suicide | The Daily Hatch

[…] At the risk of bearing bad news to close the year, research from both the Bank for International Settlements and the Organization for Economic Cooperation and Development shows the United States actually […]
on May 22, 2022 at 2:59 pm Dan Mitchell: “…Colleges and universities dramatically boosted tuition in response to all the government subsidies” | The Daily Hatch

[…] Greece according to long-run projections from the International Monetary Fund, Bank for International Settlements, and Organization for Economic Cooperation and […]
on May 10, 2022 at 6:45 pm Dan Mitchell: Americans are fleeing states governed by the left, | The Daily Hatch

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of […]
on May 2, 2022 at 10:54 pm Dan Mitchell: Any type of loan forgiveness exacerbates the original problem, which is how politicians have enabled and subsidized ever-higher tuition rates! | The Daily Hatch

[…] Greece according to long-run projections from the International Monetary Fund, Bank for International Settlements, and Organization for Economic Cooperation and […]
on April 20, 2022 at 8:06 pm Dan Mitchell: “[With Laffer Curve] entrepreneurs, investors, and business owners have more incentive to earn money when tax rates are modest!” | The Daily Hatch

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of […]
on January 9, 2022 at 3:07 pm Dan Mitchell: “Just as poor people aren’t poor because of rich people (at least the ones that get rich by markets rather than cronyism), poor nations aren’t poor because of rich nations” | The Daily Hatch

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of […]
on October 28, 2021 at 11:59 pm America in Debt Damage Zone | The Daily Hatch

[…] At the risk of bearing bad news to close the year, research from both the Bank for International Settlements and the Organization for Economic Cooperation and Development shows the United States actually […]
on October 28, 2021 at 11:35 pm Democrats Rush to Pass Radical Tax Schemes | The Daily Hatch

[…] At the risk of bearing bad news to close the year, research from both the Bank for International Settlements and the Organization for Economic Cooperation and Development shows the United States actually […]
on October 28, 2021 at 10:23 pm What’s in Democrats’ $1.75 Trillion Spending Bill | The Daily Hatch

[…] At the risk of bearing bad news to close the year, research from both the Bank for International Settlements and the Organization for Economic Cooperation and Development shows the United States actually […]
on October 24, 2021 at 8:25 pm Daniel Mitchell article Biden’s Befuddlement on Corporate Taxation | The Daily Hatch

[…] At the risk of bearing bad news to close the year, research from both the Bank for International Settlements and the Organization for Economic Cooperation and Development shows the United States actually […]
on September 5, 2021 at 10:55 pm Dan Mitchell article Can the Irish (Once Again) Save Civilization? | The Daily Hatch

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of […]
on September 1, 2021 at 12:02 am Dan Mitchell: Quantifying the Damage of Biden’s Plan for Higher Taxes on Capital Gains, Part II | The Daily Hatch

[…] now you can understand why international bureaucracies like the IMF, BIS, and OECD estimate that the fiscal challenge in the United States may be even bigger than the […]
on August 21, 2021 at 10:48 am oiltranslator

Observe that the trainwreck occurs when George Bush Jr used faith-based asset-forfeiture looting raids on real estate and financial accounts as Herbert Hoover’s own billy club with which to enforce prohibitionist enactments. “Prohibition and The Crash” (on Amazon) explains how such raids wreck a fractional-reserve banking system. Nobody denies this fact, yet all act instead to pointedly evade it as crimethink.
on July 25, 2021 at 11:03 pm Dan Mitchell article Two Sensible Observations on Tax Policy from the Washington Post (Mixed with Typical Bad Analysis) | The Daily Hatch

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority […]
on July 11, 2021 at 8:50 pm Dan Mitchell:I like capitalism, both because it’s moral and it delivers superior results compared to any alternative” | The Daily Hatch

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of […]
on July 1, 2021 at 10:22 pm Dan Mitchell article The Tradeoff Between Tax Progressivity and Economic Output | The Daily Hatch

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of […]
on June 20, 2021 at 10:42 pm Dan Mitchell: The Importance of Low Marginal Tax Rates | The Daily Hatch

[…] now you can understand why international bureaucracies like the IMF, BIS, and OECD estimate that the fiscal challenge in the United States may be even bigger than the […]
on June 19, 2021 at 1:44 pm Dan Mitchell: [In this video] I provide eight examples to illustrate how and why government spending can hinder economic growth. | The Daily Hatch

[…] now you can understand why international bureaucracies like the IMF, BIS, and OECD estimate that the fiscal challenge in the United States may be even bigger than the […]
on June 5, 2021 at 1:49 pm Dan Mitchell: “Biden campaigned for higher taxes and a bigger welfare state, so I haven’t been surprised by his misguided fiscal agenda” | The Daily Hatch

[…] now you can understand why international bureaucracies like the IMF, BIS, and OECD estimate that the fiscal challenge in the United States may be even bigger than the […]
on June 5, 2021 at 7:53 am Dan Mitchell: “Paul Krugman confessed yesterday that big government ultimately means big tax increases for lower-income and middle-class people” | The Daily Hatch

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of […]
on June 3, 2021 at 7:48 pm Dan Mitchell “Nazis were socialists!” | The Daily Hatch

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of […]
on May 28, 2021 at 6:27 am Dan Mitchell: Biden’s Class-Warfare Agenda Is Bad News According to Academic Research on Taxes and Growth | The Daily Hatch

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of […]
on May 26, 2021 at 7:29 pm Dan Mitchell: Red States vs Blue States, Part II | The Daily Hatch

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of […]
on May 25, 2021 at 8:40 pm Dan Mitchell: I’m horrified that big changes in demographics are going to lead to fiscal crises thanks to poorly designed entitlement programs. | The Daily Hatch

[…] now you can understand why international bureaucracies like the IMF, BIS, and OECD estimate that the fiscal challenge in the United States may be even bigger than the […]
on May 16, 2021 at 7:17 am At a recent Senate hearing, Senator Elizabeth Warren worried that we would “let rich people keep paying taxes at about half the rate as everyone else.” (At 2:03). Senator Warren, President Biden, and other political leaders often say that people at th

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of […]
on May 14, 2021 at 8:43 pm International Comparisons of Capital Tax Burdens by Dan Mitchell | The Daily Hatch

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of […]
on May 10, 2021 at 7:55 pm Prosperity and Taxation: What Can We Learn from the 1930s by Dan Mitchell | The Daily Hatch

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of […]
on May 1, 2021 at 1:28 pm Dan Mitchell, “Reagan successfully reduced the tax burden while also limiting the burden of government spending” | The Daily Hatch

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of […]
on February 22, 2021 at 1:09 am Dan Mitchell article The Looming Crisis of Demographic Decline and Entitlement Expansion | The Daily Hatch

[…] now you can understand why international bureaucracies like the IMF, BIS, and OECD estimate that the fiscal challenge in the United States may be even bigger than the […]
on January 16, 2021 at 9:53 am Georgia Democrats who won Senate in 2021 should remember Dan Mitchell’s words, “Politicians such as Alexandria Ocasio-Cortez and Bernie Sanders would like us to believe the answer involves never-ending tax increases. But such an approach is a recipe f

[…] Greece according to long-run projections from the International Monetary Fund, Bank for International Settlements, and Organization for Economic Cooperation and […]
on December 20, 2020 at 2:17 am My rough draft letter to President Elect Biden that will be mailed on March 3, 2021! (Part 43) The Laffer Curve charts a relationship between tax rates and tax revenue | The Daily Hatch

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of […]
on December 19, 2020 at 3:00 pm Daniel Mitchell article “Corporate Taxes and the Laffer Curve” | The Daily Hatch

[…] At the risk of bearing bad news to close the year, research from both the Bank for International Settlements and the Organization for Economic Cooperation and Development shows the United States actually […]
on November 12, 2019 at 9:58 pm A Five-Year Spending Freeze: Two Very Depressing Charts for President Obama, Two Very Encouraging Charts for America’s Taxpayers | International Liberty

[…] whether from the Congressional Budget Office or from international bureaucracies such as the IMF, BIS, and OECD, show that America will become a European-style welfare state over the next couple of […]
on March 6, 2019 at 12:51 pm Historical Evidence on Reducing Large Debt Burdens | International Liberty

[…] destined to become Greece according to long-run projections from the International Monetary Fund, Bank for International Settlements, and Organization for Economic Cooperation and […]
on August 9, 2018 at 2:10 pm Do Economic Crises Produce Liberalization or More Statism? | International Liberty

[…] I give speeches about modern welfare states, I’ll often cite grim data from the IMF, BIS, and OECD about the very depressing fiscal consequences of ever-expanding […]
on May 9, 2018 at 9:37 am Expanding Government to Address Problems Caused by Previous Expansions of Government, the U.K. Version | International Liberty

[…] to research from the Bank for International Settlements, the long-term fiscal outlook for the United Kingdom is very grim. The data generated by the […]
on October 7, 2017 at 8:30 am Demographic Change and Entitlement Disaster | People's Pundit Daily

[…] be totally surprised since I’ve already shared similarly grim estimates from the IMF, BIS, […]
on October 6, 2017 at 2:18 pm Demographic Change and Entitlement Disaster | International Liberty

[…] be totally surprised since I’ve already shared similarly grim estimates from the IMF, BIS, […]
on December 29, 2016 at 12:44 pm Trump, Entitlements, and America’s Potential Greek Future | International Liberty

[…] and also linked to very sobering data about America’s long-run fiscal position from the Bank for International Settlements, the International Monetary Fund, and the Organization for Economic Cooperation and […]
on August 19, 2016 at 12:37 am FRIEDMAN FRIDAY Security from CRADLE TO GRAVE never quite works out!!! | The Daily Hatch

[…] now you can understand why international bureaucracies like the IMF, BIS, and OECD estimate that the fiscal challenge in the United States may be even bigger than the […]
on July 13, 2016 at 7:37 am Security from CRADLE TO GRAVE never quite works out!!! | The Daily Hatch

[…] now you can understand why international bureaucracies like the IMF, BIS, and OECD estimate that the fiscal challenge in the United States may be even bigger than the […]
on July 8, 2016 at 9:55 am The Entitlement Disaster that Hillary Clinton and Donald Trump Are Ignoring | International Liberty

[…] now you can understand why international bureaucracies like the IMF, BIS, and OECD estimate that the fiscal challenge in the United States may be even bigger than the […]
on March 8, 2016 at 12:13 pm Demographics + Entitlements = Europe’s Doom | International Liberty

[…] previously shared projections from the IMF, BIS, and OECD, all of which show the vast majority of developed nations will face serious fiscal […]
on February 6, 2016 at 8:09 am Educating Congress and Debunking the White House on the Debt Limit | International Liberty

[…] bureaucracies such as the IMF, BIS, and OECD show America in worse long-run shape than Europe, but the U.S. is actually in a better […]
on February 3, 2016 at 3:46 pm Time for some Optimism on Entitlement Reform | International Liberty

[…] I’m more concerned about dealing with the long-run fiscal challenge (as seen in these IMF, BIS, and OECD numbers). So Rubio’s position doesn’t strike me as a problem. Indeed, I […]
on October 30, 2015 at 1:39 pm The Fiscal Nightmare of Changing Demographics Combined with Poorly Designed Entitlement Programs | International Liberty

[…] cite pessimistic long-run fiscal data from international bureaucracies such as the IMF, BIS, […]
on October 7, 2015 at 9:18 am The Japanese Version of Another Great Moment in Government Incompetence | International Liberty

[…] community would have more important things to worry about, such as the fact that the IMF, BIS, and OECD all show the country on track for Greek-style fiscal […]
on August 27, 2015 at 9:21 am In One Image, Everything You Need to Know about America’s Demographic Challenge | Conservative Republican News

[…] many developed nations facing long-run fiscal crisis according to long-run estimates from the IMF,BIS, […]
on August 26, 2015 at 10:03 am In One Image, Everything You Need to Know about America’s Demographic Challenge | International Liberty

[…] developed nations facing long-run fiscal crisis according to long-run estimates from the IMF, BIS, […]
on July 17, 2015 at 1:05 pm Europe’s Suicidal Welfare State - People's Pundit Daily

[…] that’s a non-trivial argument, based on very sobering data from the Bank for International Settlements, the International Monetary Fund, and the Organization for Economic Cooperation and […]
on July 16, 2015 at 2:25 pm Greece, Germany, and a Real-World Version of Atlas Shrugged | International Liberty

[…] but it’s hard to be optimistic when you look at long-run fiscal estimates from the IMF, BIS, […]
on May 31, 2015 at 12:13 pm Europe’s Suicidal Welfare State | International Liberty

[…] that’s a non-trivial argument, based on very sobering data from the Bank for International Settlements, the International Monetary Fund, and the Organization for Economic Cooperation and […]
on March 17, 2015 at 12:49 pm Are Congressional Republicans Big-Spending Bushies or Fiscally-Responsible Reaganites? | International Liberty

[…] believe me, check out these sobering estimates of long-run fiscal chaos from the IMF, BIS, […]
on January 24, 2015 at 2:03 pm The Need for Social Security Reform, as Illustrated by Cartoons | International Liberty | Lex Rex for All

[…] data on America’s long-run fiscal crisis from international bureaucracies such as the IMF, BIS, and OECD. And I’ve explained that demographics are a big part of the […]
on January 24, 2015 at 12:14 pm The Need for Social Security Reform, as Illustrated by Cartoons | International Liberty

[…] data on America’s long-run fiscal crisis from international bureaucracies such as the IMF, BIS, and OECD. And I’ve explained that demographics are a big part of the […]
on October 30, 2014 at 1:50 am Open letter to President Obama (Part 703) | The Daily Hatch

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of […]
on July 23, 2014 at 12:33 am Open letter to President Obama (Part 632) People’s faith in big government is dropping fast!! | The Daily Hatch

[…] that the government can pay promised benefits (and I bet that number would fall even lower if they saw this shocking data on the U.K.’s long-run fiscal […]
on May 6, 2014 at 1:41 pm The Growing Threat of a Wealth Tax | International Liberty

[…] data from the IMF, OECD, and BIS show that almost every industrialized nation will face a fiscal crisis in the next decade or two, […]
on March 31, 2014 at 9:29 am Is Government Debt a Problem? | International Liberty

[…] these built-in promises to spend money that give America a very grim fiscal future, as show by this BIS, OECD, and IMF […]
on March 21, 2014 at 2:45 pm Libertarian Porn, Part II | International Liberty

[…] the glass being nine-tenths empty. It’s about the United Kingdom, but these numbers from the BIS, OECD, and IMF show that the long-term spending problem is equally severe in the United […]
on February 20, 2014 at 7:39 am At some point we will have too many people dependent on the government to turn back our fate!!! | The Daily Hatch

[…] questions don’t surprise me, particularly since my speeches frequently include very grim BIS, OECD, and IMF data showing that the long-run fiscal problem in the United States is larger than it […]
on February 19, 2014 at 1:19 pm Big Government and Tipping Points: Is America Is Doomed to Become a Failed European-Style Welfare State? | International Liberty

[…] questions don’t surprise me, particularly since my speeches frequently include very grim BIS, OECD, and IMF data showing that the long-run fiscal problem in the United States is larger than it […]
on February 19, 2014 at 2:59 am Open letter to President Obama (Part 522) (Entitlement Spending Is America’s Biggest Fiscal Challenge, but Discretionary Spending Is Still Far too High) | The Daily Hatch

[…] look at these numbers from the Bank for International Settlements and OECD to see how our fiscal future is bleaker than many of Europe’s welfare […]
on February 9, 2014 at 12:07 pm A Single Picture to Show that Many Nations Are Economically Doomed | International Liberty

[…] to the Bank for International Settlements, the United States is in worse shape than every nation other than Japan and the United […]
on February 2, 2014 at 3:48 pm MyRAs Are the Wrong Way of Helping Ordinary People Save Money | International Liberty

[…] for several decades that Washington will default. I could be wrong, of course, and I have shared BIS, OECD, and IMF data that reveals the United States has gigantic long-run fiscal challenges. But […]
on January 10, 2014 at 1:35 am Open letter to President Obama (Part 494) (Does Government Have a Revenue or Spending Problem?) | The Daily Hatch

[…] that the United States has a huge long-run problem with deficits and debt according to both the Bank for International Settlements and the Organization for Economic Cooperation and […]
on December 22, 2013 at 7:00 pm A Victory for the IMF…and a Defeat for Good Fiscal Policy | International Liberty

[…] the Bank for International Settlements and Organization for Economic Cooperation and Development agree with the IMF’s grim […]
on December 19, 2013 at 1:26 am Open letter to President Obama (Part 478)(Spending is the problem Mr. President!!! Includes cartoons) | The Daily Hatch

[…] that the United States has a huge long-run problem with deficits and debt according to both the Bank for International Settlements and the Organization for Economic Cooperation and […]
on November 27, 2013 at 7:35 am Dan Mitchell of the Cato Institute has noted, “I’m all in favor of bringing federal government spending back down to about 18 percent of GDP, which is where it was when Bill Clinton left office.” | The Daily Hatch

[…] the past eight decades. And if you’re a glutton for bad news, you should also understand that BIS, OECD, and IMF data predict major long-run troubles because entitlement programs are going to […]
on November 25, 2013 at 11:01 am Paul Krugman Is (Sort of) Right about a Plot against France | International Liberty

[…] since France’s “leaders” presumably are aware of the country’s grim medium-term fiscal outlook, it certainly seems like they are scheming to impoverish their own […]
on November 18, 2013 at 9:55 am The Rise (and Upcoming Fall) of the Welfare State in the Western World #WelfareState #survival #ClassWar | Duct Tape & Paracord

[…] the past eight decades. And if you’re a glutton for bad news, you should also understand that BIS, OECD, and IMF data predict major long-run troubles because entitlement programs are going to […]
on November 13, 2013 at 11:18 am Lux Libertas – Light and Liberty » The Rise (and Upcoming Fall) of the Welfare State in the Western World

[…] the past eight decades. And if you’re a glutton for bad news, you should also understand that BIS, OECD, and IMF data predict major long-run troubles because entitlement programs are going to […]
on November 12, 2013 at 4:46 pm The Rise (and Upcoming Fall) of the Welfare State in the Western World | International Liberty

[…] the past eight decades. And if you’re a glutton for bad news, you should also understand that BIS, OECD, and IMF data predict major long-run troubles because entitlement programs are going to […]
on November 9, 2013 at 11:36 am The European Crisis (and American Future?) of too Many Over-Compensated Bureaucrats | International Liberty

[…] it’s important to look at what’s happening Europe because BIS, OECD, and IMF data all show that we are going to become a European-style welfare state if nothing […]
on October 5, 2013 at 6:15 am Cheered on by the OECD, Japan Announces Higher VAT Rate to Enable Bigger Government | International Liberty

[…] Adding to the burden of government spending is not exactly prudent behavior for a nation that already has the highest level of debt among all industrialized countries. […]
on October 4, 2013 at 6:57 am Cartoons from Dan Mitchell’s blog that demonstrate what Obama is doing to our economy | The Daily Hatch

[…] Though, to be fair, France hasn’t gotten to the point where it’s being bailed out (it’s probably just a matter of time). […]
on September 27, 2013 at 1:03 am Stephen Davies on cutting government spending (includes cartoons) | The Daily Hatch

[…] that the United States has a huge long-run problem with deficits and debt according to both the Bank for International Settlements and the Organization for Economic Cooperation and […]
on September 18, 2013 at 10:59 am A Rare Sign of Fiscal Sanity in France | International Liberty

[…] burden of government spending has soared to 57 percent of GDP. And based on projections from the BIS, OECD, and IMF, that number is going to get even worse in the […]
on September 11, 2013 at 12:25 am Welfare Spending at All-Time High…and Growing (Cartoons) | The Daily Hatch

[…] that the United States has a huge long-run problem with deficits and debt according to both the Bank for International Settlements and the Organization for Economic Cooperation and […]
on September 6, 2013 at 1:52 am Open letter to President Obama (Part 402) Portugal and the Laffer Curve | The Daily Hatch

[…] At the risk of bearing bad news to close the year, research from both the Bank for International Settlements and the Organization for Economic Cooperation and Development shows the United States actually […]
on September 5, 2013 at 2:00 pm Tax Havens and Tax Competition Are Crucial if We Want to Restrain Predatory Government | International Liberty

[…] very worried about America’s fiscal future. Simply stated, data from several sources (BIS, OECD, and IMF) indicates that we face a future Greek-style fiscal crisis unless policy makers […]
on August 29, 2013 at 3:51 pm Mirror, Mirror, on the Wall, Barack Obama (Surprisingly) Is Not the Biggest Spender of All | International Liberty

[…] reform, the United States may avoid the future Greek-style fiscal crisis that is predicted by the BIS, OECD, and […]
on August 26, 2013 at 4:35 am The Pervasive Evil of Communism…and The Moral Bankruptcy of Communist Apologists: Daniel Mtichell | RUTHFULLY YOURS

[…] about the collapse of the welfare state, even though I presented lots of powerful data from the BIS, OECD, and IMF, and also shared a very funny cartoon showing what happens when there’s nothing […]
on August 25, 2013 at 9:42 am The Pervasive Evil of Communism…and the Moral Bankruptcy of Communist Apologists | International Liberty

[…] about the collapse of the welfare state, even though I presented lots of powerful data from the BIS, OECD, and IMF, and also shared a very funny cartoon showing what happens when there’s […]
on August 23, 2013 at 12:56 am Open letter to President Obama (Part 392) | The Daily Hatch

[…] has some very sensible fiscal policies. And the Netherlands, notwithstanding its welfare state and long-run fiscal challenges, is very focused on global […]
on August 21, 2013 at 3:46 pm Least. Surprising. Headline. Ever. | International Liberty

[…] Americans shouldn’t feel cocky or superior. Long-run projections from the BIS, OECD, and IMF all show that the United States will be in deep trouble if we don’t engage in […]
on August 16, 2013 at 6:42 am Obama is a spending addict (Cartoons) | The Daily Hatch

[…] that the United States has a huge long-run problem with deficits and debt according to both the Bank for International Settlements and the Organization for Economic Cooperation and […]
on August 7, 2013 at 2:04 am Can the USA be saved? | The Daily Hatch

[…] spending already is far too high and our long-run outlook is terrible, as shown by these OECD and BIS numbers, and I don’t think the callow politicians in Washington will fix the problems because […]
on July 26, 2013 at 6:43 am Obama cartoons on spending too much!!! | The Daily Hatch

[…] that the United States has a huge long-run problem with deficits and debt according to both the Bank for International Settlements and the Organization for Economic Cooperation and […]
on July 24, 2013 at 8:06 pm Wall Street Journal Condemns OECD Proposal to Increase Business Fiscal Burdens with Global Tax Cartel « Sago

[…] of these factors helps to explain why almost all industrialized nations – as confirmed by BIS, OECD, and IMF data – face a very grim fiscal […]
on July 23, 2013 at 11:48 am Wall Street Journal Condemns OECD Proposal to Increase Business Fiscal Burdens with Global Tax Cartel | International Liberty

[…] of these factors helps to explain why almost all industrialized nations – as confirmed by BIS, OECD, and IMF data – face a very grim fiscal […]
on July 21, 2013 at 9:30 am Are Higher Taxes Solving Fiscal Problems, either in Washington or California? | International Liberty

[…] we have a looming entitlement crisis – as illustrated by very sobering estimates from the BIS, OECD, and […]
on July 12, 2013 at 3:34 pm Dan Mitchell shows how ignoring the Laffer Curve is like running a stop sign!!!! | The Daily Hatch

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of […]
on July 12, 2013 at 12:52 pm Can You Spell L-A-F-F-E-R C-U-R-V-E? | International Liberty

[…] won’t be an easy game to win since we have data from the BIS, OECD, and IMF showing that government is growing far too fast in the vast majority of […]
on July 9, 2013 at 12:26 pm Dan Mitchell: Question of the Week: Has the European Fiscal Crisis Ended? | The Daily Hatch

[…] to make matters worse, Europe faces a demographic nightmare. These charts, reproduced from a Bank for International Settlements study, show that even the supposedly […]
on July 2, 2013 at 4:39 pm Mirror, Mirror, on the Wall, Which Nation Is in the Deepest Fiscal Doo-Doo of All? | lessbull.com

[…] to the Bank for International Settlements, the United States has a terrible long-run fiscal outlook. Assuming we don’t implement genuine entitlement reform, the only countries in worse shape […]
on July 2, 2013 at 1:46 pm Mirror, Mirror, on the Wall, Which Nation Is in the Deepest Fiscal Doo-Doo of All? | International Liberty

[…] to the Bank for International Settlements, the United States has a terrible long-run fiscal outlook. Assuming we don’t implement genuine entitlement reform, the only countries in worse shape […]
on June 17, 2013 at 10:10 am Siding with the Heritage Foundation in the “Austerity” Fight with Paul Krugman and the Washington Post | International Liberty

[…] a scary genie, not Barbara Eden. And to make matters worse, Europe faces a demographic nightmare. These charts, reproduced from a Bank for International Settlements study, show that even the supposedly […]
on June 11, 2013 at 12:12 am Open letter to President Obama (Part 338) | The Daily Hatch

[…] is heading into the fiscal toilet. Indeed, both the BIS and OECD predict that our long-run fiscal situation is more perilous than Europe’s welfare […]
on June 3, 2013 at 8:48 am Relying on Dishonest Poverty Numbers, OECD Bureaucracy Urges America to Copy Europe and Adopt an even Bigger Welfare State | International Liberty

[…] midst of a fiscal crisis caused by excessive government, and with most other industrialized nations heading down the same path thanks to aging populations and poorly designed entitlement programs, this would be a good time for […]
on May 19, 2013 at 4:54 pm People’s faith in big government is dropping fast!! | The Daily Hatch

[…] that the government can pay promised benefits (and I bet that number would fall even lower if they saw this shocking data on the U.K.’s long-run fiscal […]
on May 18, 2013 at 5:24 pm UFOs, Faked Moon Landings, and Fiscal Policy | International Liberty

[…] that the government can pay promised benefits (and I bet that number would fall even lower if they saw this shocking data on the U.K.’s long-run fiscal […]
on May 10, 2013 at 6:50 am Open letter to President Obama (Part 316) | The Daily Hatch

[…] statistic and overstated the implications, he indirectly stumbled on a key issue. As seen in both BIS and OECD data, the U.S. is at risk of Greek-style fiscal chaos at some point in the not-too-distant […]
on May 2, 2013 at 9:01 pm New European Data: When Tax Competition Is Weakened, Politicians Respond by Increasing Tax Rates « Sago

[…] the United States is on the same path, as shown by these sobering charts from the Bank for International Settlements (and also as illustrated by these very funny Michael Ramirez and Bob Gorrell […]
on May 2, 2013 at 3:50 pm New European Data: When Tax Competition Is Weakened, Politicians Respond by Increasing Tax Rates | lessbull.com

[…] the United States is on the same path, as shown by these sobering charts from the Bank for International Settlements (and also as illustrated by these very funny Michael Ramirez and Bob Gorrell […]
on May 2, 2013 at 1:14 pm New European Data: When Tax Competition Is Weakened, Politicians Respond by Increasing Tax Rates | International Liberty

[…] the United States is on the same path, as shown by these sobering charts from the Bank for International Settlements (and also as illustrated by these very funny Michael Ramirez and Bob Gorrell […]
on April 14, 2013 at 1:42 pm We got to get a hold on entitlement spending!!! | The Daily Hatch

[…] look at these numbers from the Bank for International Settlements and OECD to see how our fiscal future is bleaker than many of Europe’s welfare […]
on April 13, 2013 at 1:47 pm Entitlement Spending Is America’s Biggest Fiscal Challenge, but Discretionary Spending Is Still Far too High | International Liberty

[…] look at these numbers from the Bank for International Settlements and OECD to see how our fiscal future is bleaker than many of Europe’s welfare […]
on April 12, 2013 at 6:33 pm A Tax Haven Primer for the New York Times | lessbull.com

[…] more and more nations careening toward fiscal collapse, raising the risk of social chaos and economic calamity, it is more important than ever that there […]
on April 12, 2013 at 7:02 am A Tax Haven Primer for the New York Times | International Liberty

[…] more and more nations careening toward fiscal collapse, raising the risk of social chaos and economic calamity, it is more important than ever that there […]
on April 10, 2013 at 5:18 pm Burden of Government Spending Will Be $2 Trillion Higher in 2023 According to Obama’s Budget | International Liberty

[…] By then, we’ll be two or fours years closer to being the next Greece. […]
on March 23, 2013 at 10:32 am Question of the Week: Why Aren’t Libertarians More Persuasive? | International Liberty

[…] on your benchmark. And I definitely agree that the world is trending toward less freedom (with these charts being a very sobering […]
on March 15, 2013 at 7:10 am Open letter to President Obama (Part 267) | The Daily Hatch

[…] I’ve shared numbers from both the Bank for International Settlements and the Organization for Economic Cooperation and Development to indicate that almost all nations […]
on March 14, 2013 at 9:27 am Controlling spending is the way to a balanced budget (includes editorial cartoons) | The Daily Hatch

[…] that the United States has a huge long-run problem with deficits and debt according to both the Bank for International Settlements and the Organization for Economic Cooperation and […]
on March 4, 2013 at 9:32 am Open letter to President Obama (Part 256) (on gun control) | HaltingArkansasLiberalswithTruth

[…] I just gave a speech earlier today to the European Resource Bank conference and cited this OECD and BIS data to explain why it is just a matter of time before most nations in Europe descend into […]
on February 25, 2013 at 9:11 am Open letter to President Obama (Part 250) | HaltingArkansasLiberalswithTruth

[…] is overheated rhetoric (yes, I’m prone to hyperbole), check out these dismal numbers from the Bank for International Settlements and the Organization for Economic Cooperation and […]
on February 25, 2013 at 9:06 am Open letter to President Obama (Part 248) | HaltingArkansasLiberalswithTruth

[…] 2011, I posted some charts from a study by the Bank for International Settlements, revealing that the long-run fiscal outlook for the United States is worse than the outlook for […]
on February 14, 2013 at 8:16 am Open letter to President Obama (Part 239) « HaltingArkansasLiberalswithTruth

[…] I emphasized that the fiscal problem in Europe is the size of government, not the fact that nations are having a hard time borrowing money. As […]
on February 1, 2013 at 2:54 pm From Employment to Savings, Bad Government Policy Is Undermining the U.S. Economy « International Liberty

[…] is left on auto-pilot, the burden of government spending is going to skyrocket. Indeed, both the Bank for International Settlements and the Organization for Economic Cooperation and Development estimate that America’s […]
on January 17, 2013 at 10:39 am Greece going broke before the USA? « HaltingArkansasLiberalswithTruth

[…] is overheated rhetoric (yes, I’m prone to hyperbole), check out these dismal numbers from the Bank for International Settlements and the Organization for Economic Cooperation and […]
on January 16, 2013 at 5:29 pm The Unintentional Humor of America’s Spender-in-Chief « International Liberty

[…] that the United States has a huge long-run problem with deficits and debt according to both the Bank for International Settlements and the Organization for Economic Cooperation and […]
on January 15, 2013 at 1:13 pm The Basket Case Sometimes Known as Japan « International Liberty

[…] though the public sector already is far too big and even though the government has incurred more debt than any other developed economy, the new Prime Minster thinks another Keynesian stimulus package is the recipe for economic […]
on January 12, 2013 at 2:29 pm Question of the Week: Has the European Fiscal Crisis Ended? « International Liberty

[…] to make matters worse, Europe faces a demographic nightmare. These charts, reproduced from a Bank for International Settlements study, show that even the supposedly […]
on January 11, 2013 at 2:47 am Portugal and the Laffer Curve « HaltingArkansasLiberalswithTruth

[…] At the risk of bearing bad news to close the year, research from both the Bank for International Settlements and the Organization for Economic Cooperation and Development shows the United States actually […]
on January 6, 2013 at 11:04 am Question of the Week: “Can America Be Saved?” « International Liberty

[…] spending already is far too high and our long-run outlook is terrible, as shown by these OECD and BIS numbers, and I don’t think the callow politicians in Washington will fix the problems because […]
on January 4, 2013 at 8:42 am Open letter to President Obama (Part 212) « HaltingArkansasLiberalswithTruth

[…] it has enormous implications since Europe already is a mess and the fiscal crisis sooner or later will spread to the supposedly prudent nations such as Germany and the Netherlands. And, thanks to entitlement programs, the United States isn’t […]
on January 4, 2013 at 8:39 am Capital gains tax rate and the Obama administration « HaltingArkansasLiberalswithTruth

[…] has some very sensible fiscal policies. And the Netherlands, notwithstanding its welfare state and long-run fiscal challenges, is very focused on global […]
on January 3, 2013 at 9:55 am Gun control arguments very logical? « HaltingArkansasLiberalswithTruth

[…] I just gave a speech earlier today to the European Resource Bank conference and cited this OECD and BIS data to explain why it is just a matter of time before most nations in Europe descend into […]
on December 31, 2012 at 2:17 pm Class Warfare Tax Policy Causes Portugal to Crash on the Laffer Curve, but Will Obama Learn from this Mistake? | lessbull.com

[…] At the risk of bearing bad news to close the year, research from both the Bank for International Settlements and the Organization for Economic Cooperation and Development shows the United […]
on December 31, 2012 at 10:44 am Class Warfare Tax Policy Causes Portugal to Crash on the Laffer Curve, but Will Obama Learn from this Mistake? « International Liberty

[…] At the risk of bearing bad news to close the year, research from both the Bank for International Settlements and the Organization for Economic Cooperation and Development shows the United States actually […]
on December 30, 2012 at 10:30 am Once Obama’s Policies Are Implemented Next Year, U.S. Capital Gains Tax Rate Will be 70 percent Higher than Global Average « International Liberty

[…] has some very sensible fiscal policies. And the Netherlands, notwithstanding its welfare state and long-run fiscal challenges, is very focused on global […]
on December 21, 2012 at 10:40 am The USA must cut spending and balance budget or end up like Greece « HaltingArkansasLiberalswithTruth

[…] it has enormous implications since Europe already is a mess and the fiscal crisis sooner or later will spread to the supposedly prudent nations such as Germany and the Netherlands. And, thanks to entitlement programs, the United States isn’t […]
on December 12, 2012 at 1:09 pm New Research from Finland’s Central Bank Confirms that Government Spending Is Causing Stagnation in Europe « International Liberty

[…] are plenty of reasons to be pessimistic about America’s future, particularly since both the Bank for International Settlements and the Organization for Economic Cooperation and Development estimate that America’s […]
on December 7, 2012 at 8:01 am Does President Obama have a mandate to take us to Greece? « HaltingArkansasLiberalswithTruth

[…] is heading into the fiscal toilet. Indeed, both the BIS and OECD predict that our long-run fiscal situation is more perilous than Europe’s welfare […]
on December 4, 2012 at 2:20 pm You Be the Judge: Should Troublemakers Be Segregated from the General Population? « International Liberty

[…] shown in the second video in this post). But those few good policies won’t be enough since the nation’s long-run fiscal outlook is as bad as Greece and worse than Spain and Italy. And if the burden of government spending gets too high, it swamps […]
on November 30, 2012 at 3:36 pm The French Version of a Pot Calling the Kettle Black, or Maybe the other Way Around « International Liberty

[…] instance, that Greece instead of America is winning the race to fiscal collapse (though both the BIS and OECD predict the U.S. faces a bigger long-run […]
on November 23, 2012 at 9:53 am A Humorous Look at Obama’s Very Scary Mandate « International Liberty

[…] is heading into the fiscal toilet. Indeed, both the BIS and OECD predict that our long-run fiscal situation is more perilous than Europe’s welfare […]
on November 12, 2012 at 11:27 am The “Essential” Role of Tax Havens « International Liberty

[…] Especially when those people clearly understand that so-called tax havens are necessary to restrain the compulsive tendency of “onshore” politicians to over-tax and over-spend. […]
on November 5, 2012 at 7:43 am We got to grow the economy more than government spending or else we are going to Greece « HaltingArkansasLiberalswithTruth

[…] shared BIS and OECD data showing that the United States has a bigger long-run fiscal burden than […]
on October 31, 2012 at 7:13 am I wish Romney had reworded his comment on the 47%. « HaltingArkansasLiberalswithTruth

[…] statistic and overstated the implications, he indirectly stumbled on a key issue. As seen in both BIS and OECD data, the U.S. is at risk of Greek-style fiscal chaos at some point in the not-too-distant […]
on October 27, 2012 at 7:25 pm Is America in Worse Fiscal Shape than Europe? - OBAMA-B-GONE

[…] shared BIS and OECD data showing that the United States has a bigger long-run fiscal burden than […]
on October 26, 2012 at 10:24 am Is America in Worse Fiscal Shape than Europe? « International Liberty

[…] shared BIS and OECD data showing that the United States has a bigger long-run fiscal burden than […]
on October 26, 2012 at 6:50 am Taking on liberal Ark Times Blogger about America’s debt problem « HaltingArkansasLiberalswithTruth

[…] I’ve shared numbers from both the Bank for International Settlements and the Organization for Economic Cooperation and Development to indicate that almost all nations […]
on October 9, 2012 at 12:32 pm New Video Shows that Obamanomics Is a Failure « International Liberty

[…] if that ratio continues to deteriorate, as both the BIS and OECD are predicting, then it’s just a matter of time before the United States becomes […]
on September 21, 2012 at 3:26 pm Why Romney’s Remarks on 47 Percent Dependency Are Wrong, Wrong, and Right « International Liberty

[…] statistic and overstated the implications, he indirectly stumbled on a key issue. As seen in both BIS and OECD data, the U.S. is at risk of Greek-style fiscal chaos at some point in the not-too-distant […]
on September 21, 2012 at 6:35 am We must change the upward trend of spending in our country now or entitlement debt will bankrupt us « HaltingArkansasLiberalswithTruth

[…] 2011, I posted some charts from a study by the Bank for International Settlements, revealing that the long-run fiscal outlook for the United States is worse than the outlook for […]
on September 9, 2012 at 12:58 pm Deciphering How Statists Think about Gun Control « International Liberty

[…] I just gave a speech earlier today to the European Resource Bank conference and cited this OECD and BIS data to explain why it is just a matter of time before most nations in Europe descend into […]
on September 6, 2012 at 8:26 am Does the $16 Trillion Debt Matter? A Remedial Lesson in Public Finance Economics for the GOP « International Liberty

[…] I’ve shared numbers from both the Bank for International Settlements and the Organization for Economic Cooperation and Development to indicate that almost all nations […]
on September 6, 2012 at 6:34 am When are we going to see real spending cuts? « HaltingArkansasLiberalswithTruth

[…] I emphasized that the fiscal problem in Europe is the size of government, not the fact that nations are having a hard time borrowing money. As […]
on September 4, 2012 at 12:08 pm Study from German Economists Shows that Tax Competition and Fiscal Decentralization Limit Income Redistribution « lessbull.com

[…] we want to avoid the kind of Greek-style fiscal collapse implied by this BIS and OECD data, we need some external force to limit the tendency of politicians to over-tax and […]
on September 4, 2012 at 11:59 am Study from German Economists Shows that Tax Competition and Fiscal Decentralization Limit Income Redistribution | Cato @ Liberty

[…] we want to avoid the kind of Greek-style fiscal collapse implied by this BIS and OECD data, we need some external force to limit the tendency of politicians to over-tax and […]
on September 4, 2012 at 7:48 am Study from German Economists Shows that Tax Competition and Fiscal Decentralization Limit Income Redistribution « International Liberty

[…] we want to avoid the kind of Greek-style fiscal collapse implied by this BIS and OECD data, we need some external force to limit the tendency of politicians to over-tax and […]
on September 1, 2012 at 9:11 am Almost All Nations Are Heading for Collapse, but Greece Is Special (in a Bad Way) « International Liberty

[…] is overheated rhetoric (yes, I’m prone to hyperbole), check out these dismal numbers from the Bank for International Settlements and the Organization for Economic Cooperation and […]
on August 31, 2012 at 1:37 pm Spending Cuts and Tax Cuts Should Be an All-of-the-Above Option, Not an Either-Or Choice « International Liberty

[…] I emphasized that the fiscal problem in Europe is the size of government, not the fact that nations are having a hard time borrowing money. As […]
on August 26, 2012 at 7:59 am Germany’s Dark Vision for Europe « International Liberty

[…] even more sorry for American taxpayers. Thanks to misguided entitlement programs, we’re in even deeper trouble than Europe’s welfare states. Rate this:Share this:PrintEmailFacebookTwitterMoredeliciousDiggFarkLinkedInRedditStumbleUponLike […]
on August 20, 2012 at 8:00 am Is America in Worse Fiscal Shape than Greece, France, and Italy? « International Liberty

[…] 2011, I posted some charts from a study by the Bank for International Settlements, revealing that the long-run fiscal outlook for the United States is worse than the outlook for […]
on August 12, 2012 at 6:34 am Just as Happened in Europe, the VAT Is Becoming a Money Machine for Big Govenrment in Japan « International Liberty

[…] if he’s smart, Mr. Fujii will grab as much loot as possible and emigrate. Japan’s long-term finances are a disaster, and the VAT increase is a pretty good sign that politicians have no intention of turning the ship […]
on July 25, 2012 at 2:33 pm The United Kingdom Is Royally /*@#$&;^%*( « International Liberty

[…] as you can see from this data, the long-term outlook for the United Kingdom is very grim. And we know Cameron isn’t doing […]
on July 24, 2012 at 3:45 pm Europe in trouble because of too much spending « HaltingArkansasLiberalswithTruth

[…] it has enormous implications since Europe already is a mess and the fiscal crisis sooner or later will spread to the supposedly prudent nations such as Germany and the Netherlands. And, thanks to entitlement programs, the United States isn’t […]
on July 19, 2012 at 2:31 pm Europe’s Crisis Is Because of Too Much Government, Not the Euro Currency « International Liberty

[…] it has enormous implications since Europe already is a mess and the fiscal crisis sooner or later will spread to the supposedly prudent nations such as Germany and the Netherlands. And, thanks to entitlement programs, the United States […]
on July 19, 2012 at 7:15 am Open letter to President Obama (Part 116.4) « HaltingArkansasLiberalswithTruth

[…] With these terrible choices, no wonder the continent has such a bleak future. […]
on July 14, 2012 at 11:37 am Why Western Europe Became Rich in the Past…and How It Can Regain Prosperity Today « International Liberty

[…] news is that Europe will probably move in the wrong direction rather than right direction. I shared this data from the Bank for International Settlements, showing that even supposedly sober-minded and prudent nations such as Germany and the Netherlands […]
on July 12, 2012 at 6:57 am Open letter to President Obama (Part 112) « HaltingArkansasLiberalswithTruth

[…] Though, to be fair, France hasn’t gotten to the point where it’s being bailed out (it’s probably just a matter of time). […]
on May 23, 2012 at 10:40 am Got to avoid raising taxes if we want the economy to grow and eventually balance the budget « HaltingArkansasLiberalswithTruth

[…] Though, to be fair, France hasn’t gotten to the point where it’s being bailed out (it’s probably just a matter of time). […]
on May 14, 2012 at 11:21 am Europe has a bleak future because they don’t want austerity « HaltingArkansasLiberalswithTruth

[…] With these terrible choices, no wonder the continent has such a bleak future. […]
on May 11, 2012 at 10:05 am Some French Economic Humor « International Liberty

[…] Though, to be fair, France hasn’t gotten to the point where it’s being bailed out (it’s probably just a matter of time). […]
on May 9, 2012 at 9:02 am Debunking the Austerity Charade in Europe « International Liberty

[…] With these terrible choices, no wonder the continent has such a bleak future. […]
on May 1, 2012 at 9:46 am The Moral Case for Capitalism and Small Government « International Liberty

[…] know that the United States and most other developed nations are in deep trouble if we leave government policy on auto-pilot. And we know the painful day of reckoning will arrive […]
on March 8, 2012 at 2:02 pm The Return of Much-Needed Medicaid Reform « International Liberty

[…] to reform entitlements guarantees that politicians eventually will impose a value-added tax. Or they’ll push red ink to unsustainable levels. Actually, based on what’s happened in Europe, where higher taxes simply meant higher […]
on January 22, 2012 at 10:11 pm Europe’s Fiscal Crisis Is Caused by too Much Government, and Deficits and Debt Are Merely Symptoms of that Problem | Sago

[…] about the other European countries? Well, even though their economies are falling behind, their governments are going bankrupt, and their societies are becoming unstable, the politicians in the rest of Europe don’t seem to […]
on January 22, 2012 at 2:53 pm Europe’s Fiscal Crisis Is Caused by too Much Government, and Deficits and Debt Are Merely Symptoms of that Problem « International Liberty

[…] about the other European countries? Well, even though their economies are falling behind, their governments are going bankrupt, and their societies are becoming unstable, the politicians in the rest of Europe don’t seem […]
on December 2, 2011 at 11:13 am One Would Think America Would Learn….. « THE WAKING GIANT

[…] Personal protection against social breakdown. If politicians destroy the economic system with too much debt and too much dependency, firearms will be the first and last line of defense against those who […]
on November 28, 2011 at 3:25 pm Kyle Bass does the math on Japanese debt | Leis Network

[…] the short term financial crisis, but moves to the larger long term one.And in the article, “Mirror, Mirror on the Wall, Which Nation Has the Most Debt of All?” by Dan Mitchell, he references the same BIS article as I did in my Macro view of […]
on November 28, 2011 at 10:43 am Jim

Let us be clear. The issue is not demographics. It is the symptom that uncovers the disease.

The disease is basing long term liabilities on pyramid style tax revenues without investment and ROI. No one, including governments, can redistribute money on their way to prosperity.

It turns out you have to earn it.
on November 28, 2011 at 4:16 am European Economic Crisis Highlights an Increasingly Important Reason to Oppose Gun Control - NEW HAIR DESIGN – NEW HAIR DESIGN

[…] Personal insurance opposite amicable breakdown. If politicians destroy a mercantile complement with too most debt and too most dependency, firearms will be a initial and final line of invulnerability opposite […]
on November 27, 2011 at 2:20 pm European Economic Crisis Highlights an Increasingly Important Reason to Oppose Gun Control « International Liberty

[…] Personal protection against social breakdown. If politicians destroy the economic system with too much debt and too much dependency, firearms will be the first and last line of defense against those who […]
on November 6, 2011 at 10:39 am Cato: Bloated Government Responsible for Greece’s Collapse

[…] that’s the good news — at least relatively speaking. Over the next few decades, the problems will get much worse because of demographic change and unsustainable promises to spend other people’s […]
on November 5, 2011 at 3:23 pm » Greece’s Collapse Explained in a Single Picture - Big Government

[…] that’s the good news – at least relatively speaking. Over the next few decades, the problems will get much worse because of demographic change and unsustainable promises to spend other people’s […]
on November 4, 2011 at 12:51 pm Helping to Explain Greece’s Collapse in a Single Picture « International Liberty

[…] that’s the good news – at least relatively speaking. Over the next few decades, the problems will get much worse because of demographic change and unsustainable promises to spend other people’s […]
on October 17, 2011 at 11:18 am Bogdan Salgau

The Germany chart shows data for Greece.
on October 17, 2011 at 8:30 am The Simple Solution to the European Fiscal Crisis « International Liberty

[…] a demographic problem. The population is aging, meaning that the fiscal situation will get worse – in some cases, much worse. So international investors are appropriately worried that today’s high debt levels will […]
on October 6, 2011 at 10:48 am The Greece-ification of America « International Liberty

[…] What makes this chart especially frightening is that the numbers will get even worse as the baby boom generation retires. […]
on October 4, 2011 at 11:42 am The Danish Dr.-Jekyll-Mr.-Hyde Paradox and Wagner’s Law « International Liberty

[…] Copying our policies today, on the other hand, is a recipe for tepid growth in the short run and Greek-style fiscal chaos in the long run. Rate this: Share this:PrintEmailFacebookTwitterMoredeliciousDiggFarkLinkedInRedditStumbleUponLike […]
on September 4, 2011 at 6:49 pm Phyllis Burgess

facebook security is not allowing me to link up to my page for Phyllis Burgess(the one with the cross)
on July 23, 2011 at 9:14 pm Shyam

true… you know what they say…Bulls make money, bears make money. Now dont be a pig
on May 28, 2011 at 4:45 pm atwoodsux

there is two countries labeled as “Greece”
on May 25, 2011 at 2:22 am Tom Canning

@Gary Teal Why select Italy, Ireland and Portugal as comparators for the US. Surely the point of the graphs is that these countries and Spain will top out with debt lower than the supposed healthy economies of the world, if no corrective actions are taken.
on May 23, 2011 at 5:23 am Mirror, Mirror, on the Wall, Which Nation Has the Most Debt of All? « The Brummie Liberal

[…] Wall, Which Nation Has the Most Debt of All? A very revealing post from Dan Miller over on his US blog. He’s been writting about a study by the ‘Bank for International Settlements’ […]
on May 22, 2011 at 2:15 pm Gary Teal

Somebody needs to rework the graphics so they’re all on the same scale. At first glance the shapes look fairly similar, but some go to 300% and some go to 500%. With a consistent scale the size of the problem would be more apparent. It’s just stunning that the countries comparable to the US are Greece, Italy, Portugal and Ireland. Not just that we share some similarities; these countries are alone out there on the limb. To repeat: nobody in this range is in good shape. (Though poor Japan certainly sets the curve, literally.)
on May 22, 2011 at 12:13 pm Sunday Linkage | Diminished Utility

[…] Mirror, Mirror, on the Wall, Which Nation Has the Most Debt of All? […]
on May 22, 2011 at 8:15 am U.S. Has Third Worst Projected Debt as a Share of GDP in 12 Nations « Working for Liberty

[…] Here. LikeBe the first to like this post. […]

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