A 1/23/19 CNBC article offers key points on global government debt. Following are some noted points from the article:
- Government debt hit $66 trillion through the end of 2018, or about 80 percent of global GDP, according to Fitch Ratings.
- An official at the agency said the high debt levels could hamper countries as financial conditions tighten.
- While developed market debt has stayed fairly stable since 2012, that hasn’t been the case in the U.S., which has seen its IOU surge by 44 percent.
- Debt in developed countries has remained fairly steady, around $50 trillion, since 2012, though that’s not true of the U.S. Total public debt for the American government has jumped from $15.2 trillion to $21.9 trillion, or 44 percent, during the period, Treasury Department data show.
- Fitch noted that the total U.S. debt is nearly 10 times the size of France, Germany, Italy and the U.K. combined.
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