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Not Good: The U.S. Surpasses These Countries in Per Person Debt

Nov. 7, 2012 11:58am Becket Adams

It’s no secret that the U.S. has a bit of a debt problem. We all know that. But like everything else in life, the problem is easier to understand if we visualize it.

So for your daily dose of “Is the national debt really that bad?” here’s a chart from the Senate Budget Committee Republican staff under Ranking Member Jeff Sessions (R-Ala.) that illustrates the per person debt of Americans in comparison to other financially strapped countries:

Click to enlarge

Greece, Portugal, and Spain? You know all three of those countries are imploding on themselves, right?

“According to estimates from the International Monetary Fund, America’s total government debt will be $16.8 trillion by the end of the calendar year, compared to $441 billion for Greece,” the senator’s office notes. “On a per person basis, that means U.S. debt is $53,400 for every man, woman, and child, compared to $39,400 for every man, woman, and child in Greece.”

“The disparity between per capita debt in the U.S. and Greece has grown 40 percent (roughly $8,400) since 2011. Now, U.S. per person debt is 35 percent higher than that of Greece, and is also higher than per capita debt in Portugal, Italy, or Spain (which together with Greece make up the so-called PIGS countries),” the report adds.

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Comments (68)

freedom-fighter
Posted on November 7, 2012 at 8:08pm
When the people find that they can vote themselves money, that will herald the end of the republic.

—-Ben Franklin—-

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Eamon
Posted on November 7, 2012 at 6:26pm
That’s so weird because I was looking at a recent IMF report from April 2012, and it was saying that the US deficit is projected to go down, as well as US spending, over the next couple of years due to the PAYGO policy reinstated in 2010 and the spending caps put in place.

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Larry E
Posted on November 7, 2012 at 5:31pm
Get your foul weather gear handy boys and girls, the flush handle is going to be hit any old time now. Those who aren’t ready are going to be irate and come looking for those of us who are even slightly ready.

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BannedByHuffpo
Posted on November 7, 2012 at 5:19pm
Why wasn’t Brian Williams and all the other slackers in the MSM making this an issue and raising public awareness of the enormity of this crisis prior to the election?

Oh, that’s right. They were too busy with wall to wall coverage focusing on Sandra Fluke’s publically funded birth control pills.

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cemerius
Posted on November 7, 2012 at 3:58pm
Granted this is high debt BUT per capita WE here in America have a hotter economic engine than all of these other countries!!! a 100 dollar bill means MORE there than here!! Granted, after this “election cycle” we are on a fast track to adding more trillions in debt to pay for those Mexican produced Obama phones!!!

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tj1961
Posted on November 7, 2012 at 2:12pm
Another great example… The credit rating of the United States was reduced and credit rating of the Philippines has improved!

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Metallicat
Posted on November 7, 2012 at 1:45pm
I feel so sad for my little niece and nephew today. they will have a share of the debt,but not the America i grew up in.

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wigone
Posted on November 7, 2012 at 1:12pm
Sadly…we must allow our country to fall of the fiscal cliff. Any compromise by the GOP will only delay the pain and give the socialist more foder. Allow for the massive tax increases and cuts to the military. The pain must start now!

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- Rothbardian_in_the_Cleve
  Posted on November 7, 2012 at 1:31pm
  Good thing all the republicans are talking about holding the line this morning. Oh wait, nevermind.
  
  Report this comment
- AJAYW
  Posted on November 7, 2012 at 1:32pm
  Agree, have to start someplace and time. Now is as good as any.
  
  Report this comment
- Detroit paperboy
  Posted on November 7, 2012 at 1:42pm
  I guess the freebies were more important than a terrible economy……….sad.
  
  Report this comment
AJAYW
Posted on November 7, 2012 at 12:51pm
Americans has became the give me country. After while there won’t be anything to give and they will be the ones that will revolt.

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Metallicat
Posted on November 7, 2012 at 12:47pm
what will be really funny is when these idiots that re elected Obama grow old,they will scream about not having SS or medicare and wonder why their children cant afford to take care of them and how they cant live on what little the government gives them and how the government wont approve the treatments they need to sustain their precious lives. I bet they will still be too stupid to realize the signifigance of this election and their vote for the sake of Obamas ego dug their graves.

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- Cavallo
  Posted on November 7, 2012 at 12:58pm
  It will then be their patriotic duty to die quickly, so as not to be a burden on the State.
  
  Report this comment
GhostOfJefferson
Posted on November 7, 2012 at 12:43pm
This debt is not mine. I owe them nothing. They spent at all turns against my wishes and directives, spent money on fraudulent powers and programs that are not specifically delegated to the Federal government in the Constitution, using money I never gave them voluntarily, and when they couldn’t get more they assumed debt against my wishes. I owe them nothing. I withdraw my consent to be governed.

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- Cavallo
  Posted on November 7, 2012 at 1:04pm
  They will take their pound of flesh whether you owe it or not. The only way to keep them from taking your property by force is if you have no property for them to take.
  
  Report this comment
- Rothbardian_in_the_Cleve
  Posted on November 7, 2012 at 1:08pm
  Me too.
  
  Okay, now what? We wait for them to come take us away?
  
  Report this comment
- RANGER1965
  Posted on November 7, 2012 at 1:28pm
  You’re like a guy standing in a lifeboat filled with people shouting to anyone that will listen that it wasn’t your fault that the ship sank.
  It doesn’t matter. The ship sank anyway.
  
  You’re likely morally right, but unless you marry that righteousness with the will and capability to resist what’s coming it won’t matter.
  
  Report this comment
- GhostOfJefferson
  Posted on November 7, 2012 at 2:03pm
  I have no answer Roth.
  
  Virtual communities, new currencies, encrypted digital trading of the new currency, living on an island somewhere, moving out West and disappearing in the Rockies? If the stock market crashes, who knows if it will, and it goes way bigger than 2008 that would likely end up causing no end of violence (which, I don’t want, but won’t back down from if I have to fight for my life and my family). Open a side business off the books, doing what you love (in a craft sense, such as ironworking, or woodworking, or car mechanic, or whatever), and working in cash/commodity only? Just thoughts.
  
  Report this comment
- GhostOfJefferson
  Posted on November 7, 2012 at 2:05pm
  @Cavallo, you assume an omnipotence with the State. They are, by and large, incompetent. You can take your chances and most of the time come out ahead of these Barney Fifes.
  
  @Ranger, everything has to start somewhere. Suicidal shootouts with helicopters is probably not wise, but disappearing from the financial grid is as easy as saying “boo”.
  
  Report this comment
RANGER1965
Posted on November 7, 2012 at 12:40pm
“What good fortune for governments that the people do not think.”

- Adolf Hitler

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- DadRocked
  Posted on November 7, 2012 at 1:38pm
  Hadn’t heard that one before… Damn the sheeples of the world.
  
  Report this comment
2SENSEWORTH
Posted on November 7, 2012 at 12:34pm
The younger generation will pay for this blunder – in much the same way that Hitler’s Youth paid.

It will not be a pretty sight.

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- Shasta
  Posted on November 7, 2012 at 12:41pm
  OBlamo and the left convinced the youth that all of our economic problems will be solved once we ‘fairly’ tax the wealthy. Combine that lie with all of the others, and these kids are in for some bad times ahead, just like the rest of us who know whats coming.
  
  Report this comment
- DadRocked
  Posted on November 7, 2012 at 12:42pm
  Daughter voted for the first time yesterday… At least, and she won’t realize it for awhile but, she’ll be able to say in the future that she was not a part of the 50% that voted for it. Not much to hang her hat on but she’ll have her dignity.
  
  Report this comment
RaydocX
Posted on November 7, 2012 at 12:33pm
debt nearly doubled per individual in the last four years, but the 47% don’t want to think about what is bringing their free gravy train.

what was it for everyone under 18? like $200,000?
OK, ’99%,’ think about what you’ve already borrowed. Look at Greece.
That is us, thanks to the sheeple voting not only BHO in, but more even more liberal congresswomen and men.

the question is where to invest my jeapordized savings… China? New Zealand? Switzerland? Cayman? real esate? bullets? seeds?

someone cue the Travis Tritt song, cuz, baby, we are there.

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JohnQTaxpayer
Posted on November 7, 2012 at 12:32pm
Date 11 06 2012

The USA committed fiscal suicide, the mindless voted for the destruction of the republic.

Change favors the prepared mind

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Gonzo
Posted on November 7, 2012 at 12:31pm
Run it up more baby, Americans voted for it.

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- DadRocked
  Posted on November 7, 2012 at 12:38pm
  You’re right Americans voted for it but only half of them did for it! The other half of us said BULL CRAP!
  
  Report this comment
- Gonzo
  Posted on November 7, 2012 at 12:51pm
  Unfortunately, our opinions don’t count. We have been outnumbered by the takers. Romney’s 47% turned out to be low.
  
  Report this comment
- Rothbardian_in_the_Cleve
  Posted on November 7, 2012 at 1:31pm
  Why not? When you can go on a shopping spree and someone else can pay for it, that sounds like a good deal.
  
  Report this comment
- AmazingGrace8
  Posted on November 7, 2012 at 2:10pm
  Got kicked out but back. Agree Gonzo and think about Canada taking their pipeline business to China and coal miners being layed off and coal plants being shut down as we speak. It is Midnight In America.
  
  Report this comment
- obfuscatenot
  Posted on November 7, 2012 at 2:11pm
  “If men use their liberty in such a way as to surrender their liberty, are they thereafter any the less slaves? If people by a plebiscite elect a man despot over them, do they remain free because the despotism was of their own making?” Herbert Spencer (1820-1903), British author, economist, philosopher, 1884
  
  Report this comment
- Just_Us2
  Posted on November 7, 2012 at 4:25pm
  I have suggested to my kids to start milking the system, food stamps, welfare, whatever they qualify for. Save their money for when the collapse comes. Stock up on food. Buy a gun. The more we tax the system, the sooner we can bring about economic collapse, the sooner we can rebuild.
  
  Report this comment
Indymaverick
Posted on November 7, 2012 at 12:29pm
We are under one party rule and I don`t care anymore.

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- DadRocked
  Posted on November 7, 2012 at 12:40pm
  Forty Eight hours ago I would have said NO WAY! Like you and also being from realville, I fully agree.
  
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DadRocked
Posted on November 7, 2012 at 12:20pm
So sad of a situation… Good side of it is this is the best it is going to be for a very long time.

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- JRook
  Posted on November 7, 2012 at 12:33pm
  Correct and $10 trillion plus was run up by Reagan, Bush Sr. and Bush Jr. ….Bush Jr.’s unnecessary wars, failed economy and irresponsible tax policies are responsible for the $1.2 trillion run rate that he handed the PRESIDENT. So let’s keep in mind it represents prior spending and past political weakness. Also, keep in mind that the majority of the money finds its way into large military and infrastructure contractors, big pharma, the food industry (food stamps) and IT companies. Very little goes to the 15 year old, pregnant crack head. But you don’t want to consider those facts.
  
  Report this comment
- DadRocked
  Posted on November 7, 2012 at 1:35pm
  JROOK – You are correct. But I am, by profession a financial numbers guy. The debt accelerated during Bush’s first term by 4.4% of the GDP and second term increase by 16.9% of GDP. Obama’s first term was over 23.5% in his first term.
  
  Dollar wise the debt added by the previous 43 Presidents COMBINED 1789 through 2008 = $6.3 Trillion Dollars. Debt added by President Obama – One Term! = $6.5 Trillion Dollars.
  
  Between Johnson and Carter national debt increased by $588 Billion. Reagan increased by 1.69T, GW Bush $1.4T, Clinton $1.63T, GW Bush $4.4T and Obama by $6.67 Trillion.
  
  I work with companies to financially ‘right the ship’. With past performances I commit myself to correct their fiscal issues. I did not create the company’s money issues but it is my commitment to correct the problem. If I don’t then I’m released (fired) from future pay.
  
  During the 2008 campaign, Obama gave the same commitment. He had a larger staff then I ever had, and failed. To that he needed to be fired yesterday.
  
  Fun thing about numbers, one can never argue with facts.
  
  Report this comment
- DadRocked
  Posted on November 7, 2012 at 1:44pm
  JROOK – I’ll await your follow up for I still don’t mind going toe to toe for the purpose of education.
  
  Report this comment
- DadRocked
  Posted on November 7, 2012 at 2:25pm
  After looking at your profile I see that you hit and run on topics. Throw out you negatives then boogie off to another topic. I really did not expect a response.
  
  Report this comment
UNALIEN
Posted on November 7, 2012 at 12:18pm
unfortunately this $53,378 number is entirely false,,, based on a false gov number, the $16 trillion is a cooked number based NOT on general accounting but on Government accounting…..aka cooked books

add up all debts liabilities and obligations and the REAL number is…

$643,086 per person

$200 trillion divided by 311,000,000 people

WELCOME to the hotel America, you can enter but you can never leave…

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- UNALIEN
  Posted on November 7, 2012 at 12:26pm
  at current rates the debt clock shows $22 trillion,
  
  up $6 trillion by the end of Obamas 2nd term
  (even though that isn’t the total debt and liabilities)
  
  http://www.usdebtclock.org/cbo-omb-gop-budget-estimates.html
  
  Report this comment
Rothbardian_in_the_Cleve
Posted on November 7, 2012 at 12:17pm
That is only part of the equation. You have to look at the revenue side as well..the ability to service the debt. The US has the highest median income to offset that. Granted it is declining and will continue to do so, but nonetheless the chart isn’t entirely honest.

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- Cavallo
  Posted on November 7, 2012 at 12:31pm
  There isn’t enough wealth on the planet to keep up with the amount they want and will spend. Never has new “revenue” (a fancy way of saying give me more money or I will @#$%ing kill you) been used to pay down the debt. It has always been used for more pet projects, more candy suckers for the voting suckers, and general waste, graft, and corruption. Often new “revenue” puts them into on a drunken spending high and they spend percentages. and set up programs that spend twice as much as the new “revenue” takes in.
  
  USA RIP
  
  Report this comment
- UNALIEN
  Posted on November 7, 2012 at 12:36pm
  nope, it is beyond serviceable, the Fed (and banks) are artificially suppressing interest rates. When and not if they rise the debt servicing will suck up ALL revenue.
  
  There is only one path, default, either a slow default by devaluing the dollar or a quick overnight revaluation… BANK HOLIDAY
  
  Buckle up it is going to be a wild ride…
  
  It is better that Obama and the socialists will own it as it will likely be on their watch.. within 2 years, DONE
  
  Report this comment
- Rothbardian_in_the_Cleve
  Posted on November 7, 2012 at 1:07pm
  I’m not arguing that it is serviceable. My argument is that showing the US all the way to the right is misleading because if you were to price that debt burden based on D to I ratio’s the US wouldn’t be in that slot. That’s all that I’m saying.
  
  Report this comment
- drs1969
  Posted on November 7, 2012 at 2:47pm
  Re: Unalien
  Japan has kept the interest rate scam going for 20 years, to service their debt. Since Bernanke was advising them, QE to infinity is our game plan, too.
  I agree w/ you, we don’t have any where near 20 yrs. The bond market will implode first, keep you eyes on it.
  
  Report this comment
Cavallo
Posted on November 7, 2012 at 12:16pm
USA RIP.

Sorry ladies, the math doesn’t work. The USA is doomed. All they needed to do to destroy it was to keep tacking on zeros at the end of all their fiat budgets and expenditures. Nobody has the guts, fortitude. or backbone to make the cuts necessary to save the republic. It will collapse first into chaos, and then even further under fascist autocratic control. This is the Democrat dream. To have a populace completely at the mercy of a centralized all powerful authority.

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- Shasta
  Posted on November 7, 2012 at 12:47pm
  Yes, and this election shows that Obama and congress are doing exactly what the people want. Spend, borrow, print and tax, and don’t worry about the consequences. It will be interesting to see who gets blamed when it all falls apart.
  
  Report this comment
- Cavallo
  Posted on November 7, 2012 at 1:14pm
  The blame will be placed on those that worked hard, skimmped, and saved. They’ll come for the small business owners as a group. They’ll definitely come for the larger businesses that have incorporated themselves and done business for decades. It is the principle of deep pockets. They’ll go after whoever is left that has assets for them to seize to feed their beast and dark lord of bureau-crazy. To them there is always someone else to blame, someone else to punish, and always more suckers to expropriate. Their master is always hungry, never satiated, and always looking for more.. when it runs out of food at home it will look abroad for wealth to consume.
  
  Report this comment
momrules
Posted on November 7, 2012 at 12:14pm
Hey, no problem. Those dedicated Americans that voted for their abortion rights, homosexual rights, contraceptive rights, freedom FROM religion rights, their freedom for free stuff rights and freedom from working rights last night will pick up the slack and pay this for all of us.

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- Gonzo
  Posted on November 7, 2012 at 12:42pm
  The last time I felt this bad for my country was 9-11-01.
  
  Report this comment
- GhostOfJefferson
  Posted on November 7, 2012 at 12:45pm
  I say, let Big Bird be put on a chain gang to work it off.
  
  Report this comment
- Shasta
  Posted on November 7, 2012 at 12:51pm
  Gonzo, as bad as 9-11-01 was, I at least knew we would recover from it. Now this time…
  
  Report this comment
BODYBAG
Posted on November 7, 2012 at 12:13pm
Everyone here should read this:

A New American Revolution! When Will It Start? How Will It Start?
http://www.redstate.com/jkilgore1776/2012/02/17/a-new-american-revolution-when-will-it-start-how-will-it-start/

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- Cavallo
  Posted on November 7, 2012 at 12:24pm
  I call BS. Keep hearing about revolution and revolt and such, but no one ever does anything. So I call BS until we hear about the first new Concord or Lexington. Until then, it is just firing blanks into the air.
  
  Report this comment
- BODYBAG
  Posted on November 7, 2012 at 12:34pm
  CAVALLO
  Posted on November 7, 2012 at 12:24pm
  I call BS. Keep hearing about revolution and revolt and such, but no one ever does anything.
  ———————————
  What have YOU done —- other than “call BS” ?
  
  Report this comment
- Cavallo
  Posted on November 7, 2012 at 12:47pm
  I contributed hard earned money to campaigns, and voted in my very last election. Being a lone crazy gunman isn’t in my cards, and apparently most people believe that for themselves as well. It’ll take a collapse of most infrastructure first before there is any change, and that change is likely to be worse for many many years before it gets better if it ever does get better. I think I am fairly safe in calling the great American experiment over and a failure.
  
  Report this comment
Detroit paperboy
Posted on November 7, 2012 at 12:12pm
Who cares, let the next generation worry about it……

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- Cavallo
  Posted on November 7, 2012 at 12:25pm
  It won’t be that long.. it’ll be this generation’s problem at the rate we are going/increasing.
  
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- AmazingGrace8
  Posted on November 7, 2012 at 2:24pm
  Got kicked out and back again. We will become a 3rd world economy and the minimum wage will be set at $2.00 an hour. The next generation will pay the debt of the former generation.
  
  Report this comment
Popp40
Posted on November 7, 2012 at 12:08pm
To bad the majority of Americans don’t understand this….or cares!

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- OutOfTheAether
  Posted on November 7, 2012 at 12:12pm
  You said it. The two greatest evils afflicting America: Ignorance and apathy
  
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