$63 Trillion of World Debt in One VisualizationIf you add up all the money that national governments have borrowed, it tallies to a hefty $63 trillion.In an ideal situation, governments are just borrowing this money to cover short-term budget deficits or to finance mission critical projects. However, around the globe, countries have taken to the idea of running constant deficits as the normal course of business, and too much accumulation of debt is not healthy for countries or the global economy as a whole.The U.S. is a prime example of “debt creep” – the country hasn’t posted an annual budget surplus since 2001, when the federal debt was only $6.9 trillion (54% of GDP). Fast forward to today, and the debt has ballooned to roughly $20 trillion (107% of GDP), which is equal to 31.8% of the world’s sovereign debt nominally.
About Christian Hoffeldt
Talent Scout, Human Resource Management, Talent Management , Learning & Development, Organizational Development, Change Management, Psychology, Neuropsychology