Most nations have national debt
As a percentage of GDP
USA 103%
Japan 208%
Greece 165%
Portugal 130%
Singapore 118%
Yes most countries are far below this but still not worried
Many people however do not understand that national debt is all the debt of the nation AND the people. Your mortgage contributes to the national debt. It is not all gov spending.
But.. you know. People believe what they want to believe so...
http://en.wikipedia.org/wiki/List_of_countries_by_public_debt
http://en.wikipedia.org/wiki/US_national_debt
We are a debtor nation while most others are not. Our citizens lives deeply in debt and that contributes a great deal to the ND.
ReplyDeleteHirsch