Friday, May 26


 The United States is hardly the worst nation when it come to debt per GDP. 

The United States has the world's highest GDP, yet "Major contributors to the national debt include the world's largest military budget, tax cuts (which reduce government income and rarely result in a corresponding increase in economic growth), COVID-19 relief efforts, and mandatory-but-underfunded programs such as Medicare," reports World Population Review. 

Reducing spending and raising taxes are the most common ways to reduce debt, but don't count out innovation. The United States last had a budget surplus during the Bill Clinton administration. Clinton produced balanced budgets during his last four years in office, a period of tremendous innovation with the help of the internet. . 

By the way, the countries with the least debt per GDP include Afghanistan, Democratic Republic of Congo, Eswatini, Burundi and Russia. 

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