As a percentage of GDP, the US debt is less than European countries
I believe for modern countries, Japan has the highest Debt/ GDP ratios
The International Monetary Fund disagrees.
IMF debt to GDP Ratio
Germany 74.3
USA 92.7
List of sovereign states by public debt - Wikipedia, the free encyclopedia
Read your own chart
Guess it depends on which stats you want to use
How about the First column ?
% of GDP
US 58.9
Gemany 78.8
Indeed, according to CIA World Fact book
% of GDP
Germany 78.8
US 53.3
You said we are the biggest debtor nation in the world
Total dollars amounts- sure- but we are the largest economy in the world
Don't get me wrong, the US debt is horrific and per capita
were screwed and their is no way the US can keep this
level of debt going. But to imply Europe is type of "dream"
land where socialism made everything perfect
is far from the truth
It almost started to sound like a Obama campaign
EUROPE'S FINANCIAL CRISIS
The main point is that Europe suffers from the same ills as we do.
As you can see debt to GDP, show that are just as
bad as the US in their debt. Japan is number one
in either set of data.
Europe is going broke and has a low birth rate.
In fact you see the countries cutting back on their
gov't programs. Germany ,Britain, France
In fact, any success Germany has of late is due
to pulling away from socialism
What Germany Knows About Debt
Europe is far from a dream world
I notice the Left never talks about the PIGS.
I would say the the PIGS Portugal, Italy, Greece & Spain
are examples of all this fine socialism coming to a head