"Their debt is huge. Government debt is 24 trillion dollars and without giving away monopoly money they could not pay their public service.
They are broke."
On that measure, so is just about every country on the planet, in that case.
Japan's National Government Debt to GDP is 220%,
Italy's is 131%,
Singapore = 115%,
Belgium, France, Spain are between 95% and 104%
Canada is 90%
UK is 87%
EU,overall, is at 86%
USA is 82%
Austria 79%
Ireland 70%
Germany 64%
Finland is 64%
Very few developed countries have a National Debt to GDP ratio that is less than 50% (Australia is at 40%, Netherlands is 49%, Sweden and Norway are at 37%, Denmark is 35%, Switzerland is 32%)
The USA's national debt is big, but so is its economy, so....
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- The U.S. Economy Hasn’t Experienced Anything Like This Since The 1930s (Snyder)
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