World Fact Site

The world is living on credit... but from who?

this is the link to the CIA WORLD FACT BOOK showing the debt in all countries.. isn't it amazing? the richer, the more debt... doesn't make much sense, or does it? top 5 are US, UK, Germany, France and Italy... https://www.cia.gov/library/publications/the-world-factbook/rankorder/2079rank.html

Public Comments

1. the are on credit from each other, obviously not from devoloping countries so they would be on credit to the richest countries right? that would make most sense
2. The "National Debt" is really just a play on words.The 9 trillion dollar debt is referred to as the general fund which translates into money held by the public. Politicians from both parties like to term the increase of the National Debt as a " Deficit " The play on words comes from this. The 9 trillion dollar debt is really money paid to the federal government from income taxes. Money paid for what? Money paid for Social Security. So, the majority of the 9 trillion dollar debt around 7 trillion is actually money owed back to people held by the government. 2 trillion is owed by other nations. The increase in debt comes from tax cuts and military spending increases. The good news is the money is owed back to the people. Will the government be able to pay it back to the people when the baby boomers retire? More than likely "Yes" because we currently have a 4 billion dollar surplus in two other huge parts of the budget. 2 billion Government fund/ 2 billion social security fund. The national debt is so high because we have so many baby boomer all of which have not yet retired and started to collect social security.
3. Robert Kiyosaki has discussed in length how the vicious cycle of debt is created. At the core, it has something to do with a wrong paradigm about handling cash and liquid assets. You should read his Cashflow book.