As represented in the statistic above, the public debt of the United States is continuously rising.
Public debt, also known as national and governmental debt, is the debt owed by a nations’ central government. A government debt is an indirect debt of the countries’ taxpayers.
Japan leads the global ranking of the 20 countries with the highest public debt in 2014. In relation to the Gross Domestic Product (GDP), Japan had an estimated debt of around 246 percent. Italy was on rank 6, with an estimated debt of 127.26 percent of the Gross Domestic Product.
The national debt of the United Kingdom is forecasted to grow from 40.34 percent in 2004 to 95.97 percent in 2014, in relation to the Gross Domestic Product. These figures include England, Wales, Scotland as well as Northern Ireland.
Greece had the highest national debt among EU countries as of 4th quarter 2013 in relation to the Gross Domestic Product. Germany is on rank 11 in the EU, its national debt amounted to 78.4 percent of the Gross Domestic Product.
Russia was one of the 20 countries with the lowest national debt in 2014 in relation to the Gross Domestic Product. Brunei Darussalam and Libya had an estimated level of national debt with 0 percent. The data refer to the debts of the entire state, including the central government, the provinces, municipalities, local authorities and social insurance.