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Discussion » Questions » Finance » Is the US the greatest debtor nation? Do we owe more money to more countries than any other country? Why?

Is the US the greatest debtor nation? Do we owe more money to more countries than any other country? Why?

Responses


  • 2848
    Hello Rosie:

    When right wingers are running the show, they SPEND, and SPEND, and then SPEND some more..  They put it ALL the nations credit card..  Then when they LOSE, they snivel about the debt that THEY created..  They say, we CAN'T add any more to the debt, and that's WHY we need to CUT Social Security and Medicare..

    But, the debt, all by itself, doesn't matter..  What matters is the ratio between the debt and the GDP..  It's like your house..  Even IF your debt is HIGH, if you make enough to more than cover the payments, your debt isn't TOO high..

    excon
      January 10, 2017 7:09 AM MST
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  • 13208
    So debt is not a bad thing excon? What about the deficit? I know they are not the same thing. As an individual I cannot stand to be in debt. I don't charge things I can't afford to pay in full.  If I do charge something for convenience I do pay the bill completely. I do without if I can't afford something. In a crisis I have had to ask for help but I always paid back every cent. That was very long ago. I have never had creditors hound me. I really don't get why the US has to have so much debt. Why can't we save billions immediately but cutting off all foreign aid to everyone  but  the most impoverished nations? That would be a big savings wouldn't it? Than you for your thoughtful reply! :)
      January 10, 2017 7:37 AM MST
    0

  • 2848
    Hello Rosie:

    Is debt a bad thing???  Could you have PURCHASED your house without it? 

    There's ANOTHER reason right wingers are screaming about the debt..  When people "loan" us money, they do it by buying US Treasury certificates..  They buy them because they're the SAFEST investment that ever was or ever will be..  The US does NOT default on its debt..

    But, if we ELIMINATED those debt instruments, what markets would be left for the people of the world to invest in?   Wall Street perhaps???

    excon This post was edited by excon at January 10, 2017 8:05 AM MST
      January 10, 2017 8:04 AM MST
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  • 4832
    End the Fed.
      January 10, 2017 10:42 AM MST
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  • 2965
    By straight dollars yes US has by far the highest national debt. By $10 trillion. 


    By Debt:GDP as Excon was talking about no we are not the top one, we are still in the top 7 though.
      January 10, 2017 11:02 AM MST
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