Spain’s national debt stands at roughly 614 billion euros (excluding any bank bailout) and the debt represents 72% of GDP.
The US national debt stands at 16 trillion dollars which is 16,000 billion dollars. This represents a debt to GDP ratio of 104%. Back in 2008 the national debt was 10 trillion dollars, in 2004 the debt was 7.5 trillion dollars, in 2000 the national debt was about 5.5 trillion dollars.
A trillion is a thousand billion or a million million.
The US national debt is increasing by one trillion dollars every year.
Jakesuper take a look at Irelands external debt to GDP. What’s your view on external debt? To me in these times a lot of it should I don’t think it’s absurd to imagine that a quite big chunk of it will be transformed into national debt when those assets are liquadated. I’m not sure why not more people are worried about it. At least those with big exposure to the PIGS. As you can see the external debt explodes as soon as banks are nationalised.