National Debt Clock
A debt clock is a public counter indicating the current national debt of a public authority (usually a state ) and visualized by second by second update the progress thereof. Because of the mirror-image relationship of liabilities and claims there are now assets watches that visualize the private and public assets. Clocks showing the results from the national debt interest burden of the state is called Zinsuhr.
The debt clock shows striking the dynamics of public debt growth. Private debt and the growth of the financial assets of the creditors are not considered here. The debt clock shows only the actual debt of the state through investment loans from government bonds, the effect of compound interest and the growth of government debt by the interest to be paid.
Known debt Watches
The first debt clock was installed in 1989 thirst at the intersection of 42nd Street and Avenue of the Americas at the initiative of the real estate developer Seymour. In September 2008, the U.S. government debt was 14 digits, handed the intended number of places not enough, and it had to be replaced by the number 1, the dollar sign in the first position.
A German Debt Clock located at the entrance of the headquarters of the Taxpayers in Berlin since 16 June 2004. In addition to the forecast by the club Germany's public debt and the increase per second is displayed. These values are estimated from the association while an estimated expected borrowing for the current year is added to the national debt last year.
Also at the former headquarters of the Federal taxpayers in Wiesbaden ( Adolfsallee ) can be found since June 12, 1995 Debt Clock, which displays the entire national debt, the debt burden per capita and the debt growth per second. In addition, a debt clock is in the hall of the CDU faction in the Lower Saxony state parliament. Another Debt is since 29 February 2008 in Munich. In the House of History in Bonn there is also a debt clock. This shows total debt, debt and debt per second per German citizen.
Another clock found in the town hall of the, after the sale of RWE share package debt-free since 12 September 2007 in Dusseldorf city. There, the time is displayed, since the Dusseldorf has no more debt. Furthermore, also was at the town hall in Langenfeld ( Rheinland) a debt clock. After Langenfeld 2008 was become debt free, the clock was dismantled.
The lack of comparison of its growing asset to the rising debt, among other things criticized by the trade union side. In this context, a wealth watch the rising asset is stimulated. The Chief Economist of UNCTAD, Heiner Flassbeck criticized in February 2007, the one-sidedness and striking effects of the debt clock. He suggested to provide a clock with the display of private wealth and its growth next to it, so that the debt can be evaluated against the background of existing assets. Meanwhile, already net worth or wealth watches were released in different versions.