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FBN’s Lou Dobbs on how America’s economy compares to European countries such as France and Greece.
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-- exciting.
Elections in Greece and France who -- that European elections could be this much spot right Europe's economy has been on the brink for a -- and apparently Europeans are getting a little tired of all the nonsense and they're throwing a few.
A few folks out but where exactly are we had.
Why is our president talk about economic growth.
Let's take a look at some.
Comparisons.
Between the United States and Europe debt as a percentage of GDP's a good place to start a you know how much trouble there and it France right.
Their ratio.
Of debt.
To GDP.
Is 86%.
Debt to GDP.
-- And if you look at it'll make a -- it there.
Agree but -- are getting over a 100% right.
That's union and a real trouble.
And that's exactly.
Where they are.
Greece Greece has a real hot messes.
Is my kids might might say.
Greece is this I mean there -- sort of an -- A world all of their own.
Their -- 165%.
That's -- -- trouble -- it does me and the United States well we're certainly so much better than these countries.
Well not real we now have a debt to GDP ratio above -- 100%.
The United States and put us -- -- no matter while.
We're going to be right here and a 101%.
Now.
Of GDP we're not great company here.
I mean were already -- -- little trouble there and Greece's economy.
-- gets it gets.
It's worse for those folks that lets keep this in perspective though that's only ten million people sitting -- Greece.
They can't form a government they can't run their business they are.
Completely.
Completely but almost.
Completely.
Screwed up I think is the only technical term that comes to mind their economy contracted almost.
7%.
You know it almost gets the point you don't care whether there are socialists are conservatives -- it just doesn't even matter.
Last you're Italy and Spain they were both up fractionally.
So they're doing a little bit -- but it's not even just over -- half percent.
For those two the united states of course in France where where the big shots in comparison.
One point 7% GDP growth.
But what -- really interest in this when you start looking at the folks who make -- these countries.
The United States our average retirement age is the highest.
6560.
Why.
I mean -- -- 65 years.
Then France.
You know how much trouble there -- right.
Well they retire at 5915.
-- We're talking sixty.
Sixty.
Greece and Germany I mean even Greece.
They work a little while.
But not at all on Greece and Germany -- at 61.
Years of and retirement Spain by the way these people are industrious.
It comparison there there there of associates their fellow Europeans.
Are there at that 62 person 62 years of age.
Europeans are actually as you see -- working substantially fewer years than than we do.
But labor force participation.
In this country is that a troubling thirty year while we're at and this is the number I think kind of interest and it's it's 63 point 6%.
63.
Point 6%.
A thirty year low in the United States.
Pap you think have to look at it this whole.
-- labor force participation gotta be in the thirties right.
Well it's not in Greece by the way as we look agrees there labor force participation.
Is 71%.
Plants 72%.
Italy 75%.
Spain and Germany both 76%.
For Spain.
And Germany.
76%.
And we're here.
-- -- -- -- -- -- That's what we're gonna have to answer over the course of the next six months as we move toward November.
All right it's gonna get mighty mighty interest.
In the respective -- prompt the respective unemployment rates I do think -- -- go back to where we started this broadcast.
If our labor force participation rate.
For the same as it was from President Obama -- crops.
Are unemployment rate.
Would be.
Ten point nine.
Percent.
Not.
Eight.
Point 010%.
Which has the Obama campaign staff out bragging.
Something to think about.
