How can the U.S. be called the world's richest country, while our national debt is so astronomical?

Answer 1

Because we're still in charge! That's all that really matters. U.S. currency is nothing but worthless paper. Get real Honey! By the way I am THE ALL AMERICAN!!!!

Answer 2

I think MEG has it mostly right. Our government debt is 7 trillion or is it 10? In any case I think our government debt is equal to a year's income, or a few years of government revenues.

However, we also have private sector debt too boot.

But in any case our debt is of concern, but it is not 'astronomical'. It is not astronomical because we have such a large economy.

A country's wealth is usually measured in yearly GDP: how much the country produces each year, not on how much assets and liabilities we have. However, if the liabilities to other countries become difficult to pay or a significant part of our future income, then it probably should be counted.

Answer 3

Bill Gates alone has more money than many countries.

Try adding up the wealth simply of the 50,000 fans sitting at the next Yankees home game for example -- and realize that they're just sitting, eating, buying souvenirs and bought tickets-enough to fund a sports team that has a $200 million payroll -- and there's plenty left for profits. There's so much money that a reaction to the tsunami, 9/11 nets BILLIONS and how much did anyone you know give?

Answer 4

The government debt is a tiny fraction of the wealth held by the private sector.The wealth of a nation is measured by the assets of its citizens, not the debt of the government. Since the US has a population over 300 million which is much more than any other developed country, it is the richest.

Answer 5

The worlds ritchest country I think thats a name our country gave its self.Or it was true years ago.Our debt problem is gonna haunt us real soon.Even people these days are in horrible debt buying things they dont need on credit all the time.I used to work with a guy who his wife had all these credit cards maxed out and they wernt making enough to make min payments.People need to wake up but I guess its hard when people see our government throwning away money every day.I guess they feel they can too.

Answer 6

There are other factors other than national debt to measure the wealth of a nation.

Answer 7

Because US took the debt to INVEST, that's why it's so rich.

Answer 8

excellent point, and of course, it can't!

just one of the many MIS-conceptions about the government of the u.s..

i'm most discouraged by the way in which so many in this country refuse to deal with/consider basic, simple facts! i know it's not pleasant food for thought these days, but until everyone is willing to deal with facts things, in general, aren't going to get better....in my never to be humble opinion.

Answer 9

Hmm... Interesting.

Answer 10

Whom is called it that.