The world is in debt to the tune of over $60 TRILLION! Of course that number goes up by the second. The internet is full of debt clocks, and you can watch the numbers go up second by second.
We get to claim world leadership in debt with almost $21 TRILLION! I’m sure it’s surprise to learn that Japan is second with almost $12 TRILLION. Let that sink in for a moment…. The US and Japan account for over half of the worlds debt. There are actually five countries in the world with zero debt.
In our limited sample chart on the left, (we picked some of the more representative countries) Russia is at the bottom of the debt chart. They learned from the collapse of the Soviet Union, as did China. Note how much in debt the former western European countries are. If we’re going to examine debt, it’s not just a function of how much the country owes. It’s significant to look at per capita debt. How much is each citizen on the hook for.
For those of us the USA, the $62,715 per person sounds terrible. Multiply that by your family of four. Where it gets even more hideous is that the amount of the debt per TAXPAYER is $169,452! My family (including the grandkids) is on the hook for over $2.2 MILLION! So, other than interesting information, the next logical question is, “so what?” Who do we really owe the money to? Part Two of the Series will reveal where our debt is.
I don’t even understand how I ended up here, however I thought this post was great. I do not recognize who you are but certainly you are going to a famous blogger in case you aren’t already 😉 Cheers!
I don’t even understand how I ended up here, however I thought this post was great. I do not recognize who you are but certainly you are going to a famous blogger in case you aren’t already 😉 Cheers!