US is the leader in global debt with 31.8% of the IMFs's estimated $63 trillion in total debt.

Debt Top Five

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Charts from the Visual Capitalist .

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On a Debt-to-GDP basis the US does not look so bad and China looks downright good. But that assumes you believe China's reported GDP and it also assumes you do not count unfunded liabilities in the US.

Mike "Mish" Shedlock