Which National Has The Largest National Debt?

It is surprising that the two countries that have the highest national debt are not undeveloped countries, or the countries we commonly refer to as Third World countries. The two biggest culprits in the national debt trap are the governments of the United States of America and Japan, two of the most highly industrialised and powerful nations of the world.

The present US administration, led by President George W. Bush currently has borrowings to the tune of $4.3 trillion and is expected to skyrocket to almost thrice that figure by the time the president finishes his second term in office in 2008.

Since 1993, the government of Japan, Asia's richest economy, has run up a national debt amounting to a whopping 170 per cent of the country's gross domestic product. The government of Brazil, which is one of the largest but among the developing countries of the world, ironically has the lowest national debt in the world.  

Ireland has the largest public debt, followed by Britain. America is in 15th position.

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