Global Financial Crisis: A World in Debt
USA is the nation with most debt by far in the history of human civilization. USA's total debt, including personal debt, real estate (mortgage) debt, consumer debt, credit card debt and government debt totals a mega $47,992 Billion USD ($47.9 trillion), roughly 2400 trucks full of money. Source: US Debt Clock USA borrowed $1229 billion in 2011 - roughly 2.5x towers of cash in the background. USA runs a mega ~35% budget deficit, far above the 3% max limit set by EU for economic stability standard. With industrialized world economies in crisis, USA faces little problem to finance its budget deficit in 2012 since world's money is currently flowing into USA in great numbers as investors try to find "safety" where to store their money, since Europe is not safe; neither are banks.
Related: F.Y.I./Informative and Thought Provoking
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