The biggest debtors Date posted: September 14, 2011 The size of
our national debt and what to do about it are big issues. Are
these problems confined to the United States? Or do other
countries have issues with their national debt? N.C. State
University economist Mike Walden responds. “Well … if there’s
any solace, we’re not alone in this problem. If we look at
countries debt, and we’re talking about public debt as a percent
of the economy in our country, right now for the U.S., it’s
around 100 percent. But for Japan, for example, it’s 234
percent; Greece, about 140 percent; Italy. 120; Ireland, 102;
and … Singapore, which has been long considered a very strong
economy, their debt, public debt as a percent of their economy
is about 95 percent. “So, we’re not alone. “And the common
factor really driving public debt in many of these countries is
the aging of the population. As our population ages, more people
qualify for public pensions. There’s increased spending on …
medical programs for those aging people. “