While Australia’s public debt levels when compared with the US or many European nations are low, household (or personal) debt - especially mortgage debt - are among the highest globally.
Public debt
PIGS might fly when it comes to public debt
Rising public debt is a key challenges facing world economies, with many countries with debt to GDP ratios over 100%. And it’s the PIGS (Portugal, Ireland, Greece and Spain) who are at the most risk, explains Mark Crosby.
US public debt ticks over to $12 trillion
While America was having last weekend off, the country’s public debt ticked over the impossible to comprehend figure of $US12 trillion — over 80% of the country’s annual GDP.
