A High National Credit Limit
The Economist puts up a global debt clock. Free Exchange pulls out some highlights:
Just having a quick glance, three things stand out to me. The first is that among developed nations, America's level of debt per capita is pretty small, and it remains small relative to other developed nations in 2010 and 2011, according to The Economist's projections. The second is that rising levels of public debt in America are not unique; debt is rising basically everywhere and will continue to do so for the next two years. This reflects that rising debt levels are only partially a result of domestic policy choices, and are also heavily influenced by broader economic conditions and demographic change. And the third thing, the thing that immediately jumps out looking at the map of public debt per capita across countries, is that high debt levels are associated with wealth.
But if you watch Fox News, you'll believe it is all the fault of the commie Muslim fascist from Kenya.