Maybe our debt isn't so bad?

@laglen (19782)
United States
November 18, 2009 2:02pm CST
20. United States External debt (as % of GDP): 94.3% External debt per capita: $43,793 Gross external debt: $13.454 trillion (2009 Q2) 2008 GDP (est): $14.26 trillion 19. Hungary External debt (as % of GDP): 105.7% External debt per capita: $20,990 Gross external debt: $207.92 billion (2009 Q1) 2008 GDP (est): $196.6 billion 18. Australia External debt (as % of GDP): 111.3% External debt per capita: $41,916 Gross external debt: $891.26 billion (2009 Q2) 2008 GDP (est): $800.2 billion 17. Italy External debt (as % of GDP): 126.7% External debt per capita: $39,741 Gross external debt: $2.310 trillion (2009 Q1) 2008 GDP (est): $ 1.823 trillion 16. Greece External debt (as % of GDP): 161.1% External debt per capita: $51,483 Gross external debt: $552.8 billion (2009 Q2) 2008 GDP (est): $343 billion 15. Spain External debt (as % of GDP): 171.7% External debt per capita: $59,457 Gross external debt: $2.409 trillion (2009 Q2) 2008 GDP (est): $1.403 trillion 14. Germany External debt (as % of GDP): 178.5% External debt per capita: $63,263 Gross external debt: $5.208 trillion (2009 Q2) 2008 GDP (est): $2.918 trillion 13. Finland - 188.5% External debt (as % of GDP): 188.5% External debt per capita: $69,491 Gross external debt: $364.85 billion (2009 Q2) 2008 GDP (est): $193.5 billion 12. Sweden - 194.3% External debt (as % of GDP): 194.3% External debt per capita: $73,854 Gross external debt: $669.1 billion (2009 Q2) 2008 GDP (est): $344.3 billion 11. Norway - 199% External debt (as % of GDP): 199% External debt per capita: $117,604 Gross external debt: $548.1 billion (2009 Q2) 2008 GDP (est): $275.4 billion 10. Hong Kong - 205.8% External debt (as % of GDP): 205.8% External debt per capita: $89,457 Gross external debt: $631.13 billion (2009 Q2) 2008 GDP (est): $306.6 billion 9. Portugal - 214.4% External debt (as % of GDP): 214.4% External debt per capita: $47,348 Gross external debt: $507 billion (2009 Q2) 2008 GDP (est): $236.5 billion 8. France - 236% External debt (as % of GDP): 236% External debt per capita: $78,387 Gross external debt: $5.021 trillion (2009 Q2) 2008 GDP (est): $2.128 trillion 7. Austria - 252.6% External debt (as % of GDP): 252.6% External debt per capita: $101,387 Gross external debt: $832.42 billion (2009 Q2) 2008 GDP (est): $329.5 billion 6. Denmark External debt (as % of GDP): 298.3% External debt per capita: $110,422 Gross external debt: $607.38 billion (2009 Q2) 2008 GDP (est): $203.6 billion 5. Belgium - 320.2% External debt (as % of GDP): 320.2% External debt per capita: $119,681 Gross external debt: $1.246 trillion (2009 Q1) 2008 GDP (est): $389 billion 4. Netherlands - 365% External debt (as % of GDP): 365% External debt per capita: $146,703 Gross external debt: $2.452 trillion (2009 Q2) 2008 GDP (est): $672 billion 3. United Kingdom - 408.3% External debt (as % of GDP): 408.3% External debt per capita: $148,702 Gross external debt: $9.087 trillion (2009 Q2) 2008 GDP (est): $2.226 trillion 2. Switzerland - 422.7% External debt (as % of GDP): 422.7% External debt per capita: $176,045 Gross external debt: $1.338 trillion (2009 Q2) 2008 GDP (est): $316.7 billion 1. Ireland - 1,267% External debt (as % of GDP): 1,267% External debt per capita: $567,805 Gross external debt: $2.386 trillion (2009 Q2) 2008 GDP (est): $188.4 billion Really glad not to live in Ireland This info is from http://www.cnbc.com/id/30308959 So - what do you think? disclaimer: this does NOT make it ok for us to have this debt.
2 people like this
6 responses
@diamania (7037)
• Netherlands
18 Nov 09
Or the Netherlands for that matter but for that I blame the Christian-Democrats who care more about moral issues than about finances here. Maybe in relative context the US debt isn't bad but in absolute context the US debt is the worst of the world.
1 person likes this
@laglen (19782)
• United States
18 Nov 09
I agree and if it doesnt get under control soon, we will all be speaking chinese.
@diamania (7037)
• Netherlands
18 Nov 09
No chance, I am not going to speak Chinese, first let them stop violating human rights and then come back i'd say.
• United States
20 Nov 09
Laglen, very good job using facts, and figures to explain national debt. Like you said: I'm glad I don't live in Ireland!!
1 person likes this
@laglen (19782)
• United States
20 Nov 09
it doesnt make it right but I think it gives perspective.
1 person likes this
• United States
19 Nov 09
I would need to see the operational definition of "external debt" before commenting. As is, I do wonder what these figures would look like if "internal debt" were included.
1 person likes this
@laglen (19782)
• United States
20 Nov 09
I agree. It didnt have all of the info I would have like....
@MJay101 (711)
18 Nov 09
What? We're only third? When did this happen? I thought the UK would be nearer the top, after twelve years of Gordo's nonsense. How were these figures calculated? And where's Japan - they've been running a huge deficit for years! (I think it's important to note the context for indebtedness. The world is in the midst of a major financial crisis...)
@laglen (19782)
• United States
20 Nov 09
Did you see Hong Kong?
• United States
18 Nov 09
Wow. I still don't like that we have so much debt, but those figures really give some perspective. Thanks for sharing!
1 person likes this
@laglen (19782)
• United States
20 Nov 09
your welcome, I found it interesting
@cher913 (25893)
• Canada
18 Nov 09
hm, i wonder what canada's is? funny how easy it is for our countries to get into that much debt. um dont they know that debt is not a good thing? lol!
1 person likes this
@laglen (19782)
• United States
20 Nov 09
no kidding. We go to jail for overdrawing checking account.