Infographic: How Much Government Debt Rests Upon Your Shoulders?
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How Much Government Debt Rests Upon Your Shoulders?

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How Much Government Debt Rests Upon Your Shoulders?

How Much Government Debt Rests Upon Your Shoulders?

With the U.S. National Debt closing in on the $20 trillion mark, there has been a lot of conversation in Washington about debt and its role in government.

And most of that conversation right now revolves around President-elect Donald Trump.

On one hand, the Trump campaign had early rhetoric in the Presidential campaign that the elimination of the deficit and existing government debt would be paramount if elected. The Trump administration has also been highly critical of the Federal Reserve, saying that the Fed’s policies create a “false economy”. As a result, some see Trump embracing the unique opportunity to put his stamp on how the Federal Reserve does business in early 2017.

On the other hand, even many conservative think tanks are concerned about what Trump policies mean for government debt. Rebuilding infrastructure is not cheap, and widely-cited estimates see the national debt increasing by anywhere from $5.3 trillion to $11.5 trillion over the next 10 years.

How Much Government Debt is On You?

While giant numbers like $20 trillion sound abstract and meaningless, converting them to debt-per-capita can make things more intuitive. The per-capita amount shows the amount of debt that exists per citizen, and makes things plain and simple.

Today’s infographic from HowMuch.net, a cost information site, shows government debt-per-capita in every country in the world, including the United States.

Here are the countries where people owe the most debt per person:

  • Japan: $85,694.87 per person
  • Ireland: $67,147.59 per person
  • Singapore: $56,112.75 per person
  • Belgium: $44,202.75 per person
  • United States: $42,503.98 per person
  • Canada: $42,142.61 per person
  • Italy: $40,461.11 per person
  • Iceland: $39,731.65 per person
  • Australia: $38,769.98 per person
  • United Kingdom: $36,206.11 per person

Of course, debt-per-capita isn’t the only lens to view government debt.

We’ve previously shown global debt by percentage per country, government debt compared to tax revenues, accumulated debt compared to markets and the money supply, and a map scaled to debt-to-GDP ratios.

The World's Most Famous Case of Hyperinflation

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Politics

Which Countries are the Most Polarized?

This chart plots polarization for various countries based on the Edelman Trust Institute’s annual survey of 32,000+ people.

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Which Countries are the Most Polarized?

How do you measure something that’s made headlines for half a decade but is still difficult to quantify? We’re talking about polarization.

Even within the social sciences, polarization covers everything from racial segregation, to labor skill levels, to class divide, to political ideology.

How Do You Quantify Polarization?

Edelman’s data on which countries are the most polarized comes from survey results asking respondents two very simple questions:

  • How divided is their country?
  • How entrenched is the divide?

The questions help bring to light the social issues a particular country is facing and the lack of consensus on those issues.

Plotted against each other, a chart emerges. A country in the top–right corner of the chart is “severely polarized.” Countries located closer to the lower–left are considered less polarized.

In the report, Edelman identifies four metrics to watch for and measure which help quantify polarization.

Economic AnxietiesWill my family be better off in five years?
Institutional ImbalanceGovernment is viewed as unethical and incompetent.
Class DividePeople with higher incomes have a higher trust in institutions.
Battle for TruthEcho chambers, and a low trust in media.

Following Edelman’s metrics, countries with economic uncertainty and inequality as well as institutional distrust are more likely to be polarized. Below, we look at key highlights from the chart.

Severely Polarized Countries

Despite being one of the largest economies in Latin America, Argentina is the most polarized country surveyed by a large margin. Foreign loan defaults, a high fiscal deficit, and now surging inflation have created a perfect storm in the country.

43% of the Argentinian respondents said they will be better off in five years, down 17 percentage points from last year.

Along with fiscal upheaval, Argentinians are also dealing with enduring corruption in the public sector and abrupt policy reversals between governments. Only 20% of those surveyed in Argentina said they trusted the government—the least of all surveyed countries.

Here are all six of the countries considered to be severely polarized:

    🇦🇷 Argentina
    🇨🇴 Colombia
    🇺🇸 United States
    🇿🇦 South Africa
    🇪🇸 Spain
    🇸🇪 Sweden

In the U.S., heightened political upheaval between Democrats and Republicans over the last few years has led to strengthening ideological stances and to an abundance of headlines about polarization. Only 42% of respondents in the country trust the government.

And in South Africa, persistent inequality and falling trust in the African National Congress also check off Edelman’s metrics. It’s also second after Argentina with the least trust in government (22%) per the survey.

Moderately Polarized Countries

The biggest cluster of 15 countries are in moderately polarized section of the chart, with all continents represented.

    🇧🇷 Brazil
    🇰🇷 South Korea
    🇲🇽 Mexico
    🇫🇷 France
    🇬🇧 United Kingdom
    🇯🇵 Japan
    🇳🇱 Netherlands
    🇮🇹 Italy
    🇩🇪 Germany
    🇳🇬 Nigeria
    🇹🇭 Thailand
    🇰🇪 Kenya
    🇨🇦 Canada
    🇦🇺 Australia
    🇮🇪 Ireland

Some are on the cusp of being severely polarized, including economic heavyweights like Japan, the UK, France, and Germany. On the other hand, smaller economies like Thailand, Kenya, and Nigeria, are doing comparatively better on the polarization chart.

Less Polarized Countries

Countries with fair economic outlook and high trust in institutions including China, Singapore, and India are in the bottom left sector of the chart.

    🇮🇩 Indonesia
    🇨🇳 China
    🇦🇪 United Arab Emirates
    🇸🇬 Singapore
    🇸🇦 Saudi Arabia
    🇲🇾 Malaysia
    🇮🇳 India

It’s interesting to note that of the seven countries in that sector, three are not democracies. That said, there are also more developing countries on this list as well, which could also be a factor.

Looking Ahead

Edelman notes that polarization is both “cause and consequence of distrust,” creating a self-fulfilling cycle. Aside from the four metrics stated above, concerns about the erosion of civility and weakening social fabric also lead to polarization.

Edelman polarization quote

As global events unfold in 2023—including looming worries of a recession—it will be fascinating to see how countries might switch positions in the year to come.

Where does this data come from?

Source: The 2023 Edelman Trust Barometer

Data note: Survey conducted: Nov 1 – Nov 28, 2022. Survey included 32,000+ respondents in 28 countries. Russia was omitted from this year’s survey. See page 2 of the report for more details.

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