If there’s one thing the good old U.S.A. has a lot of, it’s debt. In an almost embarrassingly short time frame (from the Clinton era until now), the United States has gone from having a budget surplus to being the most indebted nation in the world, racking up an estimated $16 trillion in debt, the burden of which works out to roughly $148,000 per taxpaying citizen. So who do we owe all this money to? Insidermonkey experts made a list of 10 countries that owe the U.S. the most money.
As the United States inches closer to its current $14.3 trillion debt ceiling, policymakers are renewing the public debate over government borrowing and spending. Earlier this year, White House economic adviser Austan Goolsbee warned that, if the ceiling is not raised, "The impact on the economy would be catastrophic. I mean, that would be a worse financial economic crisis than anything we saw in 2008. You can also check our list of 10 largest foreign holders of US debt.