America has the largest debt burden in the world. Japan is the world’s fourth largest economy (measured by GDP), has a debt-to-GDP ratio of 227%. This is the highest ratio in the world. The U.S. has a debt-to-GDP ratio of 101% which is not bad in comparison to Japan.
Japan’s debt is approximately $13.4 trillion; however, its economy is only one-fourth the size of America’s.Japan’s debt-to-GDP ratio is more than two times greater than America’s, this indicates that we are far from the total amount of debt we can handle.
Japan is able to handle their huge deficit compared to the size of their economy, this gives me hope that America can handle debt upwards to 30 trillion dollars. Debt in this country seems like it will never stop growing. In this next couple of years it definitely will not. I think the government and people should really start worrying when the debt reaches 25 trillion dollars. However, action needs to be taken now in order to reduce the deficit. If the deficit does happen to reach 30 trillion dollars we will still be okay, but it will be almost impossible to get back to even.
http://www.forbes.com/sites/mikepatton/2014/09/18/the-u-s-debt-why-it-will-continue-to-rise/
I hope the government finds a way to lower our debt total soon. It's not good for us to have that much debt. I believe that we will never see the debt total below $10 trillion in our lifetime. I know you implied that our debt total is below $25 trillion, but did the article say how much debt we are actually in exactly? Also, did it say what the United States rank was in the debt-to-GDP ratio
ReplyDeleteIt's scary to know that are country is in so much debt that we may not ever be able to come back to even. It's something that will be a permanent mark on the US's reputation.
ReplyDeleteIt is crazy to see how much debt the U.S. actually has and what they have to do in order to reduce it.
ReplyDeleteThe debt that we have in this country is incredible. Most people do not even know about how bad it is. It is only getting worse and I do not see our government fixing it any time soon.
ReplyDeleteI don't think that we will ever be able to get back to even, because to run a country like the U.S. takes a ton of money and we cant get enough from taxes so we will always have to borrow money from other countries.
ReplyDeleteI agree with DingBat. We will never get back to even. It will be hard for a country like the US. We are always busy helping other people. #ebola.
ReplyDeleteThere is no way that we can ever get rid of our debt. Only once in the history of the United States were we ever without debt. I just don't see us being able to do that again.
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