‘US debt per capita exceeds Greece’s’

The office of Senator Jeff Sessions published a chart online on Thursday that compared the government debt per capita of Greece, Ireland, Italy, France, Portugal, and Spain with that of the United States.

As the entire Europe is facing a severe financial crisis, the European countries, named in the analysis, are threatened with insolvency.

In January, the US government’s total outstanding debt, USD 15,419, surpassed the nation’s gross domestic product of USD 15,294.

Relying on the most recent data available from the International Monetary Fund, the Senate committee has concluded that the federal government’s debt per capita is nearly USD 45,000 — almost 15 percent higher than the per capita debt burden of Greece (USD 38,937). Greece has the highest debt burden in proportion to the size of its economy in the entire 17-nation eurozone.

The committee also warned that the US debt per capita could rise to USD 75,000 by 2020.

VG/HN/GHN

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