Can The US Still Call Itself A Wealthy Nation?

The US is 17 trillion dollars in debt, yet is still considered to be the wealthiest nation on earth. How is this possible?

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The Dollar and the Deficits

http://www.foreignaffairs.com/articles/65446/c-fred-bergsten/the-dollar-and-the-deficits

“How Washington Can Prevent the Next Crisis”

The Economic Effects of the President’s 2015 Budget

http://www.cbo.gov/publication/45540

“Each year, after the President releases his budget request, CBO analyzes the proposals in that request..”

The 2014 Long-Term Budget Outlook

http://www.cbo.gov/publication/45471

“Between 2009 and 2012, the federal government recorded the largest budget deficits relative to the size of the economy since 1946, causing its debt to soar.”

Fiscal Outlook and The Debt

http://www.gao.gov/fiscal_outlook/overview

“This section will help you understand the federal debt, how the federal deficit is measured, and the fiscal outlook that federal, state, and local governments face.”

Who Holds Our Debt?

http://www.factcheck.org/2013/11/who-holds-our-debt/

“The biggest are the Social Security trust funds (16 percent), the Federal Reserve banks (12 percent), China (8 percent), Japan (7 percent) and mutual funds including money-market funds (6 percent).”

Bureau of the Fiscal Service

http://www.fiscal.treasury.gov/

“We’re a new Bureau of the Treasury Department formed from the consolidation of the Financial Management Service and the Bureau of the Public Debt.”

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https://publications.credit-suisse.com/tasks/render/file/?fileID=BCDB1364-A105-0560-1332EC9100FF5C83

“The 2013 Credit Suisse Global Wealth Report and the more detailed accompanying Global Wealth Databook aim to provide the most comprehensive study of world wealth.”

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25 thoughts on “Can The US Still Call Itself A Wealthy Nation?

  1. So USA took a lot of money from others, filled up it’s pocket to look rich,
    hired a bunch of tough bouncers (military) and now is not willing to pay
    back.

    When Greece did it, it went bankrupt but not USA. I guess might is right!

  2. I’m not anti-american or anything but… should USA still call itself a
    wealthy nation, even though they aren’t even top 30 in, basicaly, any
    standard (for example education, science, crime, overall prosperity etc
    etc), except military? Yes, not even ”freedom” that americans like to
    talk about so much.

  3. what is with the false assumption that US isn’t going to default? the fact
    that it has to lend money to ITSELF show sign of a ponzi scheme than sound
    financing…

  4. This sums it up all, there is wealth but the country is so poor.
    This will only get worse until the rich are forced to pay their fair share
    of taxes and the political system needs to change for a real democracy not
    a fake democracy influenced only by the wants and needs of large
    corporations.

  5. augh, everybody keeps missing the point, the US fed gov owns 80% of the
    land in USA, Fed gov bought Alaska, bought Lousiana, USA can sell portions
    of Alaska to China for trillions, we have bases we can sell in Japan,
    Italy, Germany, England, we have used military equipment we can sell, etc.
    Every country has debt problems, and lastly if USA didn’t pay, so what,
    who is going to foreclose on US gov, who is going to evict USA? nobody, if
    the Mafia owes you $5 million, what are you going to do? Seize them?
    Start a war with armed guys? Debt is not good, but hardly the end of USA.

  6. they hate us cuz they aint us. thats right you aren’t the US of A. people
    hate us because of RIGHTS we have, Vietnam which was the fucking FRENCH’S
    fault, Iraq because we kind of screwed the people over a little bit, but we
    did stop someone who was going to do something bad.(imagine the british
    people killing nazis in 1935 before they did something bad, the british
    would be renounced as bad guys.) Anti-Communism is what the American person
    should hate, a democratic Republic would not work with a communist ideal,
    so we fought for our right to have a Capitalist government. anti terrorist
    ideals: the entire world war 1 and world war 2 was based off one terrorist
    attack/assassination of franz duke ferdinand. we could have blamed the
    Serbians or the Russians or the Germans or the Austrian Hungary but we just
    let it under the book. We Americans are the victims and they are the people
    trying to kill us and now we have turned it on them, it is WAR and we hunt
    them like the jews hunted the nazis after WW2. how we basically steal oil
    from middle east and borrow from china. the middle east has a lot of oil
    and we take some of it because we can we invaded afghanistan to get
    terrorists but we will not use our resources we use the enemy’s resource it
    is genious. The money we borrow from china to fuel our war on terrorism is
    helpful and we are thankful for that, but really if the chinese try
    anything funny like they have been doing in the last couple years we need
    to do something about it. China is like russia in WW2, they are both our
    ally helping our war but we know someday we might fight them to secure our
    liberties and freedoms. maybe one day there will be a cold war with china.

  7. The US government doesn’t exactly owe debt to itself, that would be
    ridiculous. It actually owes money to the Federal Reserve, which is made up
    of private banksters. Everything the FED (Federal Reserve) does is in
    private, there’s never been an audit, it controls monetary policy and
    therefore controls the rate of inflation and decides which banks or which
    of their bankster friends to send the free money to. Yes, I said that
    correctly, banks get free money, it’s called fractional reserve banking.
    For every $100 held in a bank account that bank gets to print ten times as
    much money held ($1000), loan it out, then make it all back plus
    interest… and you thought regular corporations were greedy, the banks
    that own them are worse! Free money if you’re a bankster!

  8. And does no one stop to think if a country with less than 5% of the worlds
    population, should have over 30% of its wealth?

  9. Sometimes it amazes me how lucky I am to be born in America…
    Only 4.5 percent of humans live in the U.S. and I could’ve been born in
    someplace like Etheopia if fate permitted it…

  10. Okay, so this may seem somewhat irrelevant, but you threw me off when you
    said that the Social Security Trust Fund owns the largest chunk of debt,
    which was 16% of the debt then 2 seconds later you say 1/3 of US debt is
    owned by Federal Agencys and 1/3 to private iinvestors, which im pretty
    sure is 33%…..isnt 33% greater than 16%?

  11. The (public debt) at apx 14 trillion is the direct result of the apx 14
    trillion foreign trade deficit of the last 45 years. Look it up. And it’s
    still going… financially the American people are being drained to death,
    and now both parties, Dems and Rep, have dumped TPP into the laps of the
    American people. so much for public trust and fiscal responsibility. Fact!

  12. a wealthy nation, but the money lies in a small elite, so is that really
    U.S wealth?

  13. Dear America haters,
    I am a British immigrant living in the United States.
    My single guarantee to you: it’s 50 states times better than the UK.

  14. The USA is a disgusting excuse for a country. Pretty much every other
    industrialized nation is doing better than us. I hate living in this
    shithole and I hate that immigrating to the EU is so difficult. I’m not
    lucky to have been born here, fuck that noise. Hopefully we can elect
    someone who can help us be decent again. #BernieSanders2016 #FeeltheBern

  15. this channel must be government funded lmao. China and japan have already
    passed the us in wealth and the eu is damn near full collapse

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