The country with the least debt, or near zero, is often cited as Macao SAR, a special administrative region, due to massive gaming revenues, while the nation-state with the lowest debt-to-GDP is typically Brunei, closely followed by countries like Kuwait, Tuvalu, and Liechtenstein, all boasting very low ratios thanks to resource wealth or fiscal strength, though some low-debt nations (like Haiti) have it due to economic instability rather than strength.
Countries with the Lowest National Debt
The United States has the largest total national debt in absolute dollar terms (over $38 trillion), followed by China and Japan, but Japan has the highest debt when measured as a percentage of its Gross Domestic Product (GDP) (over 230%), indicating a much larger debt burden relative to its economic output.
The U.S. has had debt since its inception. Our records show that debts incurred during the American Revolutionary War amounted to $75,463,476.52 by January 1, 1791. Over the following 45 years, the debt grew. Notably, the public debt actually shrank to zero by January 1835, under President Andrew Jackson.
Overall, America ranks 11th globally. As it stands, the current federal budget is projected to add $1.8 trillion each year to the $38 trillion debt pile. While the U.S. debt ratio is 125% today, it will likely only continue to rise.
Eliminating the U.S. government's debt is a Herculean task that could take decades. In addition to obvious steps, such as hiking taxes and slashing spending, the government could take a number of other approaches, some of them unorthodox and even controversial.
About two-thirds of the national debt is held either by the government itself or by U.S. citizens.
Another example is Liechtenstein, nestled between Switzerland and Austria. This tiny principality boasts one of the highest GDPs per capita globally, largely due to its favorable tax policies and strong banking sector. Here too, fiscal prudence means no national debt—a rarity among nations today.
(WPTA) - On January 8, 1835, the U.S. national debt reached zero for the first and only time in history. This happened under President Andrew Jackson.
Today, at a White House event, President Clinton announces that the federal budget, which had run at a deficit for 29 years, has been balanced, and will run a surplus of roughly $70 billion for the fiscal year that ends today. Closing The Book On A Generation Of Deficits.
Investors in Japan and China remain among the largest foreign holders of Treasury debt. Foreign ownership of U.S. debt can have implications for the nation's economy and financial markets.
NEWS | India leads the list of countries borrowing from the World Bank, holding USD 39.3 billion in outstanding loans, according to recent data. #india #WorldBank #GPLUS.
In fiscal year 20261, the federal government has collected $740 billion in revenue. The federal government collects revenue from a variety of sources, including individual income taxes, payroll taxes, corporate income taxes, and excise taxes.
The U.S. dollar would depreciate and the yuan would appreciate if China called in all its U.S. holdings, making Chinese goods more expensive.
Key Takeaways. The U.S. ($38.3T) and China ($18.7T) are the two countries with the most government debt, and together make up just over half of the world's total debt ($110.9T).
Debt held by the public reached a high of 49.5% of GDP at the beginning of President Clinton's first term. However, it fell to 34.5% of GDP by the end of Clinton's presidency due in part to decreased military spending, increased taxes (in 1990, 1993 and 1997), and increased tax revenue resulting from the 1990s boom.
The United States federal government has continuously had a fluctuating public debt since its formation in 1789, except for about a year during 1835–1836, a period in which the nation, during the presidency of Andrew Jackson, completely paid the national debt.
December 16: The Great Fire of New York destroys 17 blocks of businesses in Manhattan, including the New York Stock Exchange. October 2: The Texas Revolution starts in Mexico at the American settlement of Gonzalez.
Japan and China have been the largest foreign holders of US debt for the last two decades. From 2000 to 2023, annual totals are based on data from December, while the 2024 data is updated through April. Inflation adjusted to the 2023 calendar year.
Since the U.S. dollar has a variable exchange rate, however, any sale by any nation holding huge U.S. debt or dollar reserves will trigger the adjustment of the trade balance at the international level. The offloaded U.S. reserves by China will either end up with another nation or will return to the U.S.
If your debt ratio does not exceed 30%, the banks will find it excellent. Your ratio shows that if you manage your daily expenses well, you should be able to pay off your debts without worry or penalty. A debt ratio between 30% and 36% is also considered good.
This depends on two components: growth in economic activity, and the interest rate on government debt. If economic growth on average is higher than the interest rate, then the government's effective interest cost is negative and it could sustainably carry its existing debt burden.
Which countries own the most land in the U.S.?
Buffett holds so much of his wealth in Treasury bills because they're easy to access. If he needs to cash out quickly and use the funds for something else, he can. They also offer high interest yields because the government rewards people for essentially loaning it money.