Is America Drowning in Debt Compared to Other Rich Nations?

By Carver Malone | May 2, 2024

National debt

Similar to how people or businesses use credit or loans to improve their financial situation, governments also borrow money to enhance their country's development or welfare. 

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This borrowed money contributes to the national debt of the country. 

The government

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via CNBC

In essence, national debt refers to the total amount of money that a government owes to lenders, including other governments, corporations, and individuals holding treasury bonds. Exploring the countries with the highest national debt requires a deeper understanding and analysis of the situation.