Curtis Miller, a student in one of my ECON 1010 classes sent me this article from BBC News regarding Japan's government debt rating. Could we be headed in the same direction? Read and decide for yourself.
http://www.bbc.co.uk/news/business-12533405
The CIA world fact book shows that almost every country has some debt. The country with the highest amount of debt compared to it GDP is Zimbabwe 241% the lowest is Libya 3%. The US is 35th on the list and has a debt load of 58% of the GDP.
ReplyDeletehttps://www.cia.gov/library/publications/the-world-factbook/rankorder/2186rank.html?countryName=United%20States&countryCode=us®ionCode=na&rank=36#us