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Picture of Tamsyn
Posted
Can anyone help with a debate?

What is the current U.S. position regarding international loans? Is it a creditor or a debtor nation? Which nations are its 3 largest debtors/creditors?
 
Posts: 18 | Location: New Zealand | Registered: 01-16-06Reply With QuoteEdit or Delete MessageReport This Post
Diamond
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Picture of frankvan
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The U.S is a debtor nation, to the tune of $7.9 trillion as of 2005. Your share (for each man, woman, and child is $7,167; or $28,668 for a family of four)owed to foreign interests. Of course, it isn't divided equally, some individuals collect the interest while others pay that interest, as well as the fat cats' share). 33 percent of that debt is owed to the Japanese.
Here's the awful truth!
 
Posts: 6886 | Location: Baltimore, MD, U.S.A | Registered: 06-03-02Reply With QuoteEdit or Delete MessageReport This Post
Diamond Enthusiast

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The United States is the largest debtor nation in the world. Its three largest creditors are Japan, Mainland China, and the United Kingdom.

Foreign Holders of US Treasury Securities

Some interesting international data are available from the CIA World Factbook, including -

Rank Order - External Debt
This is the total of public and private debt owed to nonresidents. It is not to be confused with total public debt.

United States - $8.837 Trillion
United Kingdom - $7.107 Trillion
Germany - $3.626 Trillion

Public Debt as a % of Gross Domestic Product (GDP):

1. Malawi - 208.6 %
2. Lebanon - 200.7 %
3. Japan - 170.0 %
4. Seychelles - 129.7 %
5. Jamaica - 127.5 %

Some of the major economic powers:

3. Japan - 170.0 %
7. Italy - 107.3 %
30. Canada - 68.2 %
31. Germany - 68.1 %
34. France - 66.5 %
36. United States - 64.7%
63. United Kingdom - 42.2 %
86. China - 28.8 %
101. Russia - 15.6 %
 
Posts: 7732 | Location: in the backwoods of North Carolina | Registered: 06-07-02Reply With QuoteEdit or Delete MessageReport This Post
Diamond Enthusiast

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I hope this information is helpful in your debate. Frankvan and I debate a lot, but share a common concern over the debt of the United States.
 
Posts: 7732 | Location: in the backwoods of North Carolina | Registered: 06-07-02Reply With QuoteEdit or Delete MessageReport This Post
Diamond
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Picture of frankvan
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I am mostly concerned that 'Fuse and I seem to be members of a very negligible minority. The apathetic majority, who carry the burden for now, seem content to pass it on to their children and grandchildren. An individual's tax bill for the interest on that debt amounts to $1,193.00 every year and the principal continues to grow to the stratosphere.
 
Posts: 6886 | Location: Baltimore, MD, U.S.A | Registered: 06-03-02Reply With QuoteEdit or Delete MessageReport This Post
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