Countries Overloaded With Debt The US National debt is
staggering: $11.896 trillion. There are widespread calls inside
and outside the United States to reduce the country's debt,
fueled by fears ranging from the rising tide of inflation to the
possibility that the dollar will lose its privileged position as
the world's reserve currency. But how bad is it, really? There
is no doubt that the US national debt is in dire straits and
getting increasingly out of control; ballooning over 100% since
2000, when it was a mere $5.75 trillion. But despite steadily
increasing debt levels, individuals and countries around the
world continue to maintain a high demand for US debt, hinging
their confidence on the strength of the American taxpayers and
government revenues generated by the country's economic
activity. On a surface level it may seem like the United States'
debt position, the biggest in the world, is also the worst. But
when the numbers are looked at on a more relative basis, the
total amount of debt owed by the