Dossier
Jack Salmon
Coverage of Jack Salmon in the Nexus archive.
- The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it’s still worse somehow
The U.S. national debt of $39 trillion is lower than Japan's 204% and Singapore's 172% debt-to-GDP ratios but higher in absolute terms than China's $18.7 trillion. Economists warn the U.S. is accumulating debt at $7 billion per day, reducing its ability to respond to recessions, while Japan's debt is structurally different due to domestic ownership and high household savings.