Recent Study Ranks U.S. Debt Fifth Largest Among Major Economies
A recent report from the Associated Press Global Economy Tracker found that the U.S. national debt (as a percentage of GDP) is the fifth largest among the world's major economies. According to the Tracker, which analyzes financial and economic data from thirty of the world's largest economies, U.S. debt in the first three months of the year equaled 95 percent of GDP. The only countries listed as having a higher debt as a percentage of GDP were Japan, Greece, Thailand, and Italy**.
As if we needed another indicator or reason to get our fiscal house in order, the AP just gave us another.
**India is also ranked above the U.S., but ranking is based on data from the fourth quarter of 2010 rather than the first quarter of 2011.