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In today�s global economic environment, many
national economies have looked to their governments
for financial support, which equates to increase
spending which in turn grows the national debt.
Deficit spending and government debt are the norm in
most western countries, but due in part of the
global financial crisis.
Below is the information, �External debt� taken from
The World Bank and the CIA World Factbook. External
debt is a measure of a government�s foreign
liabilities, capital plus interest that a government
must eventually pay. So how does the US debt compare
to other developed countries?
|
Rank |
Flag
|
Country |
% of GDP |
Per Capita |
Gross Debt |
2008 GDP
|
|
1 |
 |
Ireland |
811.00%
|
$549,819
|
$2.311
trillion
|
$285 billion
|
|
2 |
 |
United Kingdom |
336.00%
|
$153,616
|
$9.388
trillion
|
$2.787
trillion |
|
3 |
 |
Belgium |
327.00%
|
$155,362
|
$1.618
trillion
|
$495.4 billion
|
|
4 |
 |
Hong Kong |
295.00%
|
$93,539
|
$659.93
billion
|
$223.8 billion
|
|
5 |
 |
Netherlands |
268.00%
|
$145,959
|
$2.439
trillion
|
$909.5 billion
|
|
6 |
 |
Switzerland |
264.00%
|
$171,478
|
$1.304
trillion
|
$492.6 billion
|
|
7 |
 |
Austria |
191.00%
|
$100,787
|
$827.49
billion
|
$432.4 billion
|
|
8 |
 |
France |
168.00%
|
$78,070
|
$5.001
trillion
|
$2.978
trillion |
|
9 |
 |
Denmark |
159.00%
|
$107,026
|
$588.7 billion
|
$369.6 billion
|
|
10
|
 |
Germany |
137.50%
|
$63,767
|
$5.25 trillion
|
$3.818
trillion |
|
11
|
 |
Spain |
137.50%
|
$57,091
|
$2.313
trillion
|
$1.683
trillion |
|
12
|
 |
Sweeden |
129.00%
|
$73,245
|
$663.58
billion
|
$512.9 billion
|
|
13
|
 |
Finland |
116.00%
|
$62,579
|
$328.56
billion
|
$281.2 billion
|
|
14
|
 |
Norway |
114.00%
|
$118,353
|
$551.59
billion
|
$481.1 billion
|
|
15
|
 |
United States |
95.09%
|
$44,358
|
$13.627
trillion
|
$14.330
trillion |
|
