"Greece is making headlines lately for its debt crisis, but the United States isn’t that far behind when it comes to federal debt.
In 2007, the ratio of debt-to-Gross Domestic Product (GDP) in the U.S. was under 76 percent. By 2014, the U.S. debt-to-GDP ratio rose to an astonishing 122.6 percent.
Unfortunately, this measure does not take into account unfunded obligations such as Social Security or Medicare, so the situation is arguably much worse than this report indicates. But it is still pretty dire.
The only countries that top the U.S. when it comes to debt-to-GDP are Greece (181 percent), Italy (156 percent), Portugal (149 percent) Belgium (129 percent) and Ireland (127 percent)..."
No comments:
Post a Comment