You can’t use your GDP to pay off debts. Wouldn’t it be better if we used how much % of a goverments budget goes towards servicing debts?

  • barkingspiders@infosec.pub
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    4 months ago

    I think it is measured and professionals who work in areas where this was relevant probably track this number among many others. I think the real question you are asking is why it is always framed as a % of GDP in public discussion and news reporting. Some people here point out how % of GDP can be more useful for comparing across countries with vastly different sized economies but I think we all know the real answer has more to do with how people perceive the value differently by using the larger number. Framing government debt as a % of GDP serves the zeitgeist, whatever that is.

    • Venator@lemmy.nz
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      4 months ago

      The zeitgeist isn’t something that something can be in service to, it is the resulting cultural mood from other things that are being served.

      I think you mean it serves the status quo.