The debt clock is a public counter, displaying government debt (also known as public debt or national debt ) of a public company, usually a country, and which visualizes progress through updates every second. Because of the mirror-image correlation between liabilities and receivables there are clock assets or property hours as well, which visualize private and state assets. The hour to display the national interest cost is called flower hour .
Video Debt clock
Destination
The debt hour prominently shows the dynamics of growth of the country's debt. In this connection, private debt and growth in monetary assets of creditors are ignored. The debt hour, in addition to indicating the actual new debt from the state through investment credit from government bonds, also shows the effect of interest and compound interest ("interest on interest") and the swelling of state debt derived from interest paid.
Maps Debt clock
Example
Many countries and cities have public debt hours installed.
- The first debt hour, the US National Debt Clock, was installed in 1989 at the intersection of 42nd Street and Sixth Avenue on the initiative of property agent Seymour Durst. Relocated in 2004.
- Germany, the hours of debt of the German Taxpayer Federation:
- Berlin: The German debt hour is located at the entrance of the Federation's headquarters since June 16, 2004. In addition to German national debt growth, per second increase is also shown. The Taxpayer Federation estimates these values ​​by adding an estimated likelihood of borrowing from the current year to the previous year's sovereign debt.
- Wiesbaden: Also at the former headquarters of the German Taxpayer Federation in Wiesbaden, debt hours have been running since June 12, 1995, featuring total public debt, per capita debt and increased debt per second.
- Germany, Landtag of Lower Saxony: The debt hour is located in the CDU group room (German party) in Landtag of Lower Saxony.
- Germany, Munich: debt hour has been running since 29 February 2008.
- Germany, Bonn, Haus der Geschichte : this shows total debt , debt per second and per capita debt .
- Germany, DÃÆ'¼sseldorf, Town Hall: DÃÆ'¼sseldorf is a debt-ridden city since September 12, 2007 after the sale of the RWE stock block. There, elapsed time is displayed instead of debt.
- Germany, Langenfeld, Rhineland: after Langenfeld was debt free in 2008, debt hours were dismantled.
Criticism
The lost confrontation of the growing assets and the increasing debt was criticized i.a. on the part of the union. In this context, asset hours or property hours displaying an increase in asset driven.
The senior economist at the UN Conference on Trade and Development (UNCTAD), Heiner Flassbeck, in February 2007 criticized the bias and the striking effects of debt hours. He suggests to set aside hours by displaying personal assets/property and growth to allow debt valuations against the current background of values ​​and property assets. Meanwhile, hours of wealth or property in some variants are published.
References
External links
- Debt hours from 28 EU Member States and hours of Interest in Germany and Austria at haushaltssteuerung.de
- European Debt Hour
- Steuerzahler.de, the German Taxpayer Federation website with debt hours running under the page headings
- USdebtclock.org, Detailed debt hour from USA
- Debt hour with asset hour
- Reichtumsuhr.de, Web site with a comparison of personal assets/wealth and public debt in Germany
- Canada's national debt hour
- French national debt hour
- Austrian national debt hour
- United Kingdom national debt hour
- The National Dept and Finnish wealth hours
- Time Dept Pakistan
Source of the article : Wikipedia
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