Sunday, July 12, 2015

OECD Report: U.S. one of the most indebted nations in the world

OECD Report: U.S. one of the most indebted nations in the world - Watchdog.org:
"Greece is making headlines lately for its debt crisis, but the United States isn’t that far behind when it comes to federal debt.
According to a new report released by the Organization for Economic Cooperation and Development (OECD) the United States ranks number six on the list of the most indebted advanced economies in the world.
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)..."

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