QUESTION FROM NATE: Do you see the news about the USA's creditors possibly downgrading our credit rating because of our growing debt as overblown?
But the debt problems faced by Asian nations are neither as immediate nor as far-reaching as the growing debt in Europe and the United States.
The logic is that if the economy grows, then the growing debt, as a percentage of a larger GDP, will still be relatively small, or, as the president said, "sustainable".
But in taking over the magazine, he also assumed its growing debt -- as much as $70 million in liabilities according to a report at the time of the sale.
The International Monetary Fund and private banks today promised as much as $39.7 billion to help Argentina reduce its growing debt burden, pep up its economy and stem a crisis of confidence that some economists worry could spread through Latin America.
The country spent much of the past decade racking up enormous debts and using the services of investment banks such as Goldman Sachs to keep the growing debt burden hidden and off the books.
While most agree that defaults are unlikely, they fear that as states struggle with their growing debts, investors could decide not to buy the debt of the weakest state or local governments.
In addition, as the chart below illustrates, our growing debt is also increasingly owned by countries--China and Russia most notably--who are often our adversaries in international affairs.
Italian MPs have approved a package of tough austerity measures to tackle the country's growing debt crisis, as demanded by the EU.
The right-wingers who deny this - and shriek about growing debt - are ignoring reality as plainly as those who deny evolution or global warming.
What we found was that about 40percentt of the American people--most of them have jobs--are in the same boat as this young woman, in terms of growing debt.
