The figure above is from The Economist. It shows the total debt in six countries, that is government debt plus other forms of debt. Note that among these six developed economies, the United States has the lowest total debt as a portion of GDP and also the fastest rate of pull down of that debt.
This is true because government stimulus programs have provided for an economic recovery that helped companies and people to pay off their debts, debts such as credit card debt and debt from tuition loans. The Economist feels that this U.S. approach is more successful than that used by the advanced European economies. Of course. the Germans didn't get into the same debt problems in the first place and so are less concerned with pulling it down.
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