Austerity never works. Ever.

Who does the globe owe money to? Jupiter?

...ball of confusion...
...that's what the world is today, hey hey...

Read this:

http://www.amazon.com/Treasure-Islands-U…

Or a shorter summary:
http://www.uspirg.org/reports/usp/offsho…

to find out where all the money goes. These should be required reading for every schoolchild. Particularly, egregious is how tax havens are used to pillage the economies of countries who would, otherwise, not be poor.

@2 - The Bankers, of course.

IF aggregate global debt were a meaningful statistic (which it's not), and that debt were $100T, the aggregate annual interest on that debt (to Jupiter, say) would be around $6T -- which we can easily pay out of our $60T gross global product before Jupiter comes to evict us.

Leave this scaremongering flimflam to Pete Petersen and other rightwing cranks where it traditionally resides.

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